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Trump Calls for Fed Governor to Resign After Accusation of Mortgage Fraud
Head of the Federal Housing Finance Agency alleged Wednesday that Fed governor Lisa Cook submitted what he called fraudulent information
—> https://www.wsj.com/politics/policy...2?st=k8zYwH&reflink=desktopwebshare_permalink
“… Bill Pulte, the head of the Federal Housing Finance Agency, alleged on social media Wednesday morning that Fed governor Lisa Cook submitted what he called fraudulent information on a pair of mortgage applications.
Trump wrote in a social-media post in response to Pulte’sclaims that “Cook must resign, now!!!”
Pulte’s post alleges that in 2021 Cook sought mortgages on two properties—one in Michigan, the other in Atlanta—and described both of them as her primary residence in papers submitted 14 days apart. His post included images of what appear to be Cook’s signature, but no other evidence supporting his accusation.
Pulte said he would submit the information to the Justice Department in a criminal referral.
… The Justice Department is probing similar fraud claims against two of the president’s most vocal Democratic critics, opening investigations into New York Attorney General Letitia James and Sen. Adam Schiff of California. Attorney General Pam Bondi authorized Ed Martin, head of a working group tasked with reviewing cases against Trump, to use grand juries in Virginia and Maryland to probe separate allegations of mortgage fraud involving Schiff and James, according to a person familiar with the matter.
Cook was a Michigan State University economics professor when she was nominated to the Fed’s seven-member board of governors by former President Joe Biden in 2022. She is serving a term that runs until 2038. Throughout her time on the board, she has voted in line with Powell and the majority decisions of the Fed’s policy committee. …”
“… The resignation earlier this month of another Fed governor, Adriana Kugler, has already given Trump an opening to nominate a candidate to the central bank’s board this summer. He put forward the name of one of his top economics advisers, Stephen Miran, who is now awaiting senate confirmation.
Kugler didn’t give a reason for her resignation. The Wall Street Journal reported that her departure surprised colleagues and followed her disclosure of finance transactions that violated the central bank’s recently strengthened policies around personal financial transactions.…”
“… Last September, Kugler filed a transaction report that showed she or a family member purchased Apple stock on three separate instances, all during so-called blackout periods ahead of Fed meetings in July 2024 and September 2024. The report also showed the purchase of stock in the restaurant chain Cava Group during one of those blackout periods.
Fed policies bar top officials or their spouses from buying or selling individual stocks. Those rules also bar them from buying or selling investments of any kind during the blackout periods.
In the transaction report, Kugler said the four stock purchases, each in the amount of between $1,001 and $15,000, were carried out by her husband without her knowledge and without any intention to violate Fed rules. Upon learning of the purchases, she immediately notified ethics officials and, at their direction, divested of the assets as soon as possible under Fed rules, she said in the report.…”
