"WASHINGTON Federal Reserve Governor Lisa Cook referred to a condominium she purchased in June 2021 as a "vacation home" in a loan estimate, a characterization that could undermine claims by the Trump administration that she committed mortgage fraud. President Donald Trump has sought to fire Cook "for cause," relying on allegations that Cook claimed both the condo and another property as her primary residence simultaneously, as he looks to reshape the central bank to orchestrate a steep cut to interest rates."
"Documents obtained by The Associated Press also showed that on a second form submitted by Cook to gain a security clearance, she described the property as a "second home." Cook sued the Trump administration to block her firing, the first time a president has sought to remove a member of the seven-person board of governors. Cook secured an injunction Tuesday that allows her to remain as a Fed governor."
Lisa Cook purchased properties in June 2021 and described an Atlanta condominium as a "vacation home" on a loan estimate and as a "second home" on a security clearance form. The Trump administration alleges Cook claimed both the Atlanta condo and an Ann Arbor home as primary residences to obtain favorable mortgage terms and has sought to remove her from the Federal Reserve Board for cause. Cook sued to block the firing and secured an injunction allowing her to remain a governor while the administration appeals and seeks emergency review. A criminal referral prompted a Justice Department investigation, and county tax records show no homestead exemption on the condo.
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