Overview

• FHFA director Bill Pulte asked Attorney General Pam Bondi to open a probe, alleging Lisa Cook falsified bank and property records to secure favorable mortgage terms.
• Pulte’s letter cites two 2021 loans in Michigan and Georgia that he says were each declared a primary residence within roughly two weeks.
• President Donald Trump called for Cook’s immediate resignation on Truth Social, escalating weeks of pressure on the central bank’s leadership over interest rates.
• Cook said she will not step down and is preparing documentation to address any legitimate inquiry into her finances.
• At least one outlet reports the Justice Department plans to examine the case with Ed Martin overseeing the review, a development not uniformly corroborated as markets watch Powell’s Jackson Hole speech and the September Fed meeting.