BlockBeats news, on August 26, President Trump signed a document to remove Federal Reserve Board member Cook, effective immediately. Trump stated in the document: 'Under the powers granted to me by Article II of the United States Constitution and the amended Federal Reserve Act of 1913, I hereby remove Cook from his position on the Board of Governors of the Federal Reserve System. Given Cook's dishonest conduct in financial affairs and potential criminal activities, I cannot have confidence in your integrity. At the very least, these actions reveal serious negligence on your part in financial transactions, raising doubts about your ability and credibility as a financial regulator.' (Jin Shi)
Previously, officials from the U.S. Department of Justice indicated that they had received a referral for a criminal investigation related to Federal Reserve member Cook, and they are giving it serious attention. Trump's staunch ally, Bill Pulte, Director of the Federal Housing Finance Agency, wrote to Justice Department officials, suggesting that Federal Reserve member Cook may have committed criminal offenses. According to a copy of the letter disclosed by Bloomberg, the letter accused Cook of 'forging bank documents and property records to obtain more favorable loan terms, potentially constituting mortgage fraud under criminal law.'
