Trump Removes Federal Reserve Governor Over Mortgage Allegations
President Donald Trump ousted Federal Reserve Governor Lisa Cook on Monday, accusing her of lying on mortgage forms by declaring two primary residences.
Allegations of Mortgage Fraud
Trump cited a criminal referral dated August 15, 2025, from William J. Pulte, Director of the Federal Housing Finance Agency, to Attorney General Pamela Bondi. In a statement, Trump wrote that the referral provided “sufficient reason to believe you may have made false statements on one or more mortgage agreements.”
He noted that Cook signed a document declaring a Michigan property as her primary residence for the coming year. Two weeks later, she signed another document stating that a Georgia property would serve as her primary residence. Trump argued, “It is inconceivable that you were not aware of your first commitment when making the second. It is impossible that you intended to honor both.”