Board Member of the Federal Reserve System Faces Investigation Over Mortgage Fraud Case

According to PANews, Bill Pulte, the director of the Federal Housing Finance Agency, has requested an investigation into Federal Reserve Board member Lisa Cook over allegations of mortgage fraud. In a letter to the Attorney General, Pulte accused Cook of possibly falsifying bank documents and property records to obtain more favorable loan terms, citing relevant criminal statutes for investigation. U.S. President Donald Trump publicly demanded Cook's immediate resignation following these allegations. Cook, who was appointed to the Federal Reserve System by President Biden, holds a position that expires in 2038. Both the Federal Reserve and the Justice Department declined to comment on the matter.