Key Facts
• August 20, 2025: Trump demands resignation of Fed Board member Lisa Cook.
• Allegations: Cook falsified documents for favorable mortgage terms in 2021.
• Trump posted on Truth Social: “Cook must resign immediately!!!”
• Federal Housing Finance Agency (FHFA) Director Parthé flagged the issue on X.
• Investigation requested by FHFA to Attorney General Bondi.
• Department of Justice considers the allegations “very serious.”
• Cook was appointed by former President Biden and confirmed by the Senate.
• Mortgage contract in question predates Cook’s Fed Board appointment.
• Trump has criticized Fed Chair Powell and pushed for interest rate cuts.
• Cook’s term extends beyond Trump’s presidency, complicating Fed Board dynamics.
• Currently, 2 of 7 Fed Board members were appointed by Trump.
• Trump recently nominated a replacement for outgoing Fed Board member Kugler.
Summary
Former President Donald Trump has called for the resignation of Federal Reserve Board member Lisa Cook, citing allegations of falsified documents to secure favorable mortgage terms in 2021. Trump made the demand via his social media platform, Truth Social, urging immediate action. The Federal Housing Finance Agency (FHFA) Director Parthé raised the issue on X, requesting an investigation by Attorney General Bondi. The Department of Justice is treating the matter with high priority. Cook, appointed by former President Biden, faces scrutiny over a mortgage contract predating her Fed Board confirmation. Trump’s demand aligns with his ongoing criticism of Fed Chair Powell and efforts to influence the Federal Reserve. Cook’s extended term complicates Trump’s goal of reshaping the Fed Board, where only two of seven members were appointed by him. This development follows Trump’s recent nomination of a replacement for outgoing Fed Board member Kugler.
