Mortgage Controversy: The Case of Federal Reserve Governor Lisa Cook

In a surprising move, former U.S. President Donald Trump has dismissed Federal Reserve Governor Lisa Cook, attributing his decision to what he calls "false statements" about mortgages she secured in 2021.

Trump's claims, initially brought to light by Federal Housing Finance Agency Director William Pulte, accuse Cook of misrepresenting her residency status in loan applications, suggesting occupancy fraud. In response, Cook has filed a lawsuit against Trump and the Federal Reserve, arguing her dismissal was unjustified and politically driven, as she opposed lowering interest rates.

The case hinges on mortgage details where Cook identified two properties as primary residences. Her financial disclosure reveals three loans with varying terms, raising questions about the legitimacy of her claims and prompting further investigations.

(With inputs from agencies.)