"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."
"Bill Pulte, a Trump appointee to the agency that regulates mortgage giants Fannie Mae and Freddie Mac, has accused Cook of signing separate documents in which she allegedly said that both the Atlanta property and a home in Ann Arbor, Michigan, also purchased in June 2021, were both "primary residences." Pulte submitted a criminal referral to the Justice Department, which has opened an investigation."
Federal Reserve Governor Lisa Cook described a condominium purchased in June 2021 as a 'vacation home' on a loan estimate and described the same property as a 'second home' on a security-clearance form. President Donald Trump sought to fire Cook 'for cause,' alleging that she claimed both the Atlanta condo and an Ann Arbor, Michigan home purchased the same month as primary residences. Bill Pulte submitted a criminal referral to the Justice Department, which opened an investigation. Cook sued to block her removal and secured an injunction allowing her to remain a Fed governor. The administration appealed and requested an emergency ruling before a scheduled Federal Reserve meeting. Fulton County tax records show Cook never claimed a homestead exemption on the condo.
#federal-reserve #mortgage-fraud-allegations #presidential-removal #security-clearance-investigation
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