Mortgage Controversy: The Case of Federal Reserve Governor Lisa Cook

President Donald Trump has removed Federal Reserve Governor Lisa Cook, citing false statements regarding her mortgages. Cook has repudiated these claims, arguing her removal is unjust. The controversy centers on three mortgages taken by Cook, and potential occupancy fraud allegations due to her stated primary residences.

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.)