Federal Reserve Governor Lisa Cook Referred for Mortgage Fraud

President Trump Calls For Resignation of Fed Official After Fraud Allegations

Fed Governor called on by President Trump to resign after a colleague referred her to the Attorney General on mortgage fraud.

Published August 26, 2025

Federal Reserve Governor Lisa Cook was referred to Attorney General Pam Bondi on August 15 by U.S. Federal Housing Finance Agency Director William Pulte, following accusations of mortgage fraud.

Pulte, the Director of FHFA, posted on X his referral of Fed Governor Cook to Attorney General Pam Bondi. The accusations outline Cook committing mortgage fraud, as she was claiming two different homes as her primary residence. The report accuses her of claiming one of each in Michigan and Georgia.

“According to mortgage documents obtained by U.S. Federal Housing, it appears an individual, Ms. Lisa DeNell Cook, has falsified bank documents and property records to acquire more favorable loan terms, potentially committing mortgage fraud under the criminal statute,” says the letter from Director Pulte.

We have obtained a document Lisa Cook submitted to the U.S. Government while serving as Federal Reserve Governor. In it, on February 28, 2023, she represents to the U.S. Government that the Atlanta Property is her PERSONAL RESIDENCE.

However, Lisa Cook, as a then-sitting Fed… pic.twitter.com/clclhtag9O
— Pulte (@pulte) August 22, 2025

President Trump announced on Truth Social “Cook must resign now!!!” in reference to a Bloomberg article about the issue. “I have no intention of being bullied to step down from my position because of some questions raised in a tweet,” Cook said in a response issued by the Fed.

“I do intend to take any questions about my financial history seriously as a member of the Federal Reserve and so I am gathering the accurate information to answer any legitimate questions and provide the facts,” she added.

President Trump has been looking for the Fed to lower interest rates for the past couple months, and the main man standing in his way is Jerome Powell. Trump will be able to replace Powell in May of 2026, however all 12 Fed Governors, such as Cook, have to vote on the lowering of rates. So while not a complete solution, President Trump is looking to secure the Fed with supporters come a new appointment next may.