Overview

• Federal Housing Finance Agency director Bill Pulte has sent criminal referrals to the Justice Department and publicly posted a letter alleging mortgage misrepresentations by Federal Reserve Governor Lisa Cook.
• President Trump demanded that Cook resign and said he would fire her, though the Federal Reserve Act allows removal of a governor only for cause.
• Cook rejected calls to step down and said she will compile accurate information to address questions about her finances, with her current term scheduled to run through 2038.
• A DOJ review of Senator Adam Schiff is underway, with special attorney Ed Martin reported to be leading the probe; Schiff denies wrongdoing, calls the effort politically manufactured, and has launched a legal defense fund.
• Other figures named by Pulte include New York Attorney General Letitia James, who rejects the claims, as commentators warn of political use of enforcement even as reporting notes occupancy-fraud cases are relatively rare.