Bill Pulte Reportedly Declines To Disclose Tip That Sparked Fraud Allegations Against Fed Governor Lisa Cook
Synopsis
In an interview with CNBC, Pulte said the information came from a whistleblower, which prevented him from revealing further details.
Bill Pulte, Director of the Federal Housing Finance Agency (FHFA), reportedly declined to disclose how he obtained the “tip” that led him to accuse Federal Reserve Governor Lisa Cook of mortgage fraud.
In an interview with CNBC, Pulte said, “I’m not going to explain our sources and methods, where we get tips from, who are whistleblowers.” Pressed further about the source of the allegation, Pulte said revealing it would be “reckless.”
“This is exactly why you have whistleblower protections. This is exactly why you don’t intimidate people who are your sources, who give you information,” he said. Last month, Pulte alleged that Cook misrepresented her assets to obtain more favorable loan terms. This led to President Donald Trump firing Cook from her post, a move which she is currently contesting. Her lawyers believe that Trump’s action lacks a factual and legal basis.
“I’ve never seen people support crime like this. This is insane,” he told CNBC. “What she did was wrong. The fact that she hasn’t come out and said these aren’t my documents, or some rational explanation for this alleged crime. Why is she not doing it? Doesn’t make any sense.”
Pulte also said that disclosing the mortgage fraud was part of his job, not necessarily something he was doing to win favor with Trump. “My job, and I swore an oath before the Senate, that I would root out mortgage fraud and that I would ensure that there is safety and soundness in the mortgage market,” he said.
Meanwhile, U.S. equities were mixed in pre-market trade on Thursday. The SPDR S&P 500 ETF (SPY) gained 0.54%, the SPDR Dow Jones Industrial Average ETF (DIA) slipped 0.08%, and the Nasdaq-100 tracking Invesco QQQ Trust (QQQ) moved 0.79% higher. Retail sentiment around QQQ on Stocktwits remained in ‘bearish’ territory over the past day.
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