Fed Official Lisa Cook Faces Mortgage Fraud Allegations Amid Political Pressure

Bill Pulte has publicly accused Federal Reserve Governor Lisa Cook of mortgage fraud, urging Florida Attorney General Pam Bondi to investigate. The allegations focus on two mortgages where Cook allegedly claimed primary occupancy simultaneously—a violation of lending rules. "There was a tip that we received," Pulte told Bloomberg Television, suggesting the case could implicate Fed Chair Jerome Powell.

The Justice Department escalated the matter on Thursday, with prosecutor Ed Martin notifying Powell that Cook's situation "requires further examination." Political pressure intensified after a TRUMP social media post demanded Cook's immediate resignation. The White House has yet to comment officially.

Cook defiantly rejected calls to step down, stating through a Fed spokesperson: "I have no intention of being bullied to step down from my position because of some questions raised in a tweet." She pledged to provide documentation addressing the allegations.