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Fed Governor Lisa Cook claimed 2nd residence as 'vacation home,' undercutting Trump fraud claims

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Fed Governor Lisa Cook claimed 2nd residence as 'vacation home,' undercutting Trump fraud claims

WASHINGTON (AP) — Federal Reserve Governor Lisa Cook referred to a condominium she purchased in June 2021 as a “vacation home” in a loan estimate, a characterization that could undermine claims by the Trump administration that she committed mortgage fraud.

President Donald Trump has sought to fire Cook “for cause,” relying on allegations that Cook claimed both the condo and another property as her primary residence simultaneously, as he looks to reshape the central bank to orchestrate a steep cut to interest rates. Documents obtained by The Associated Press also showed that on a second form submitted by Cook to gain a security clearance, she described the property as a “second home.”

Cook sued the Trump administration to block her firing, the first time a president has sought to remove a member of the seven-person board of governors. Cook secured an injunction Tuesday that allows her to remain as a Fed governor.

The administration has appealed the ruling and asked for an emergency ruling by Monday, just before the Fed is set to meet and decide whether to reduce its key interest rate. Most economists expect they will cut the rate by a quarter point.

Bill Pulte, a Trump appointee to the agency that regulates mortgage giants Fannie Mae and Freddie Mac, has accused Cook of signing separate documents in which she allegedly said that both the Atlanta property and a home in Ann Arbor, Michigan, also purchased in June 2021, were both “primary residences.” Pulte submitted a criminal referral to the Justice Department, which has opened an investigation.

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Claiming a home as a “primary residence” can result in better down payment and mortgage terms than if one of the homes is classified as a vacation home.

The descriptions of Cook’s properties were first reported by Reuters.

Fulton County tax records show Cook has never claimed a homestead exemption on the condo, which allows someone who uses a property as their primary residence to reduce their property taxes, since buying it in 2021.

The White House did not immediately respond to a request for comment.

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AP writer Jeff Amy in Atlanta contributed to this report.

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Video: Zelensky Faces a ‘Difficult Choice’ With Trump’s Proposed Plan

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Video: Zelensky Faces a ‘Difficult Choice’ With Trump’s Proposed Plan

new video loaded: Zelensky Faces a ‘Difficult Choice’ With Trump’s Proposed Plan

The Trump administration has proposed a 28-point peace plan designed to end the Russia-Ukraine war. President Volodymyr Zelensky of Ukraine said that his country was facing a “difficult choice.”

By Chevaz Clarke

November 21, 2025

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Zelenskyy warns Ukraine faces ‘difficult choice’ as US peace plan hits major hurdle

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Zelenskyy warns Ukraine faces ‘difficult choice’ as US peace plan hits major hurdle

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A U.S.-backed framework to end the Ukraine war — assembled by special envoy Steve Witkoff, with input through both Kyiv and Moscow channels — is stirring unease among European allies and putting fresh pressure on President Volodymyr Zelenskyy.

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Zelenskyy, who has ruled out recognizing Russian sovereignty over Ukrainian land, delivered one of his starkest public messages yet, warning that Kyiv is entering “one of the most difficult moments in our history.”

In remarks released on Friday by Reuters, Zelenskyy said Ukraine is under intense pressure and may soon face what he called “a very difficult choice: either losing its dignity or risking the loss of a key partner. Either 28 difficult points or an extremely difficult winter — the most difficult one yet — and further risks. Life without freedom, without dignity, without justice. And we are expected to trust someone who has already attacked us twice.”

WITKOFF MEETS UKRAINE OFFICIALS IN NEW YORK AHEAD OF EMERGENCY UN SECURITY COUNCIL MEETING: ‘VERY PRODUCTIVE’

Ukrainian President Volodymyr Zelensky is greeted by US President Donald Trump (L) upon arrival at the White House West Wing in Washington, DC, on August 18, 2025. President Zelenskyy said today (Friday) Ukraine and the United States would “work on the provisions of the plan” and are ready for “constructive, honest and swift work.” (Photo by Andrew Caballero-Reynold / AFP via Getty Images))

Zelenskyy urged Ukrainians to remain disciplined as negotiations continue with Washington. “We will not make any loud statements; we will work calmly with America and all our partners,” he said. “I will present arguments, I will persuade, I will offer alternatives, but we will definitely not give the enemy any reason to say that Ukraine does not want peace, that it is disrupting the process, and that Ukraine is not ready for diplomacy. That will not happen.”

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Warning of intensified attempts to divide the country, he said Ukrainians should expect “a lot of pressure — political, informational and other kinds of pressure — to weaken us,” but vowed that “we have no right to allow that,” and insisted, “we will succeed.”

A U.S. official, speaking on background, told Fox News Digital, “It was strongly implied to the Ukrainians that the United States expects them to agree to a peace deal. Any changes will be decided upon by the President himself.”

According to multiple outlets, a working draft would require Kyiv to cede the eastern Donbas region to Russia, limit long-range Western strikes inside Russia, and cap Ukraine’s armed forces at roughly 600,000 troops.

The White House says Witkoff and Secretary of State Marco Rubio have been “quietly working” on the plan and engaging both sides. President Donald Trump has been briefed and supports pushing to finalize the framework by the holidays. 

Zelenskyy is preparing for a call with Trump, having already spoken with German Chancellor Friedrich Merz and Vice President JD Vance on Friday. 

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Ukraine has formally received the document. Zelenskyy said Ukraine and the United States would “work on the provisions of the plan,” and that Kyiv is ready for “constructive, honest and swift work.” He has repeatedly ruled out recognizing Russian sovereignty over any Ukrainian territory, saying earlier there can be “no reward for waging war.”

“We are working to ensure that Ukraine’s national interests are taken into account at every level of our relations with partners,” Zelenskyy posted Friday on X, formerly known as Twitter.

ZELENSKYY SEEKS ‘STRONG REACTION’ FROM US IF PUTIN IS NOT READY FOR BILATERAL MEETING

President Donald Trump walks with Russian President Vladimir Putin as they arrive at Joint Base Elmendorf-Richardson Aug. 15, 2025, in Anchorage, Alaska. Kremlin spokesman Dmitry Peskov said today (Friday) Russia has “not received anything officially” from Washington on the 28-point plan. (Andrew Harnik/Getty Images)

A Ukrainian source told Fox News Digital that Kyiv’s red lines include limits on NATO membership, territorial concessions and troop cuts. The former senior Ukrainian official called the draft’s terms “political suicide” that would leave Zelenskyy responsible “for the loss of about one-fifth of Ukraine.”

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In Moscow, Kremlin spokesman Dmitry Peskov said Thursday that Washington and Moscow are not yet discussing the proposals in detail, but that contacts were taking place. “There are certain ideas on the American side, but nothing substantive is currently being discussed. We are completely open — we maintain our openness to peace negotiations,” Peskov told reporters.

U.S. Ambassador to the U.N. Mike Waltz pressed for urgency during a Security Council briefing Thursday, saying diplomacy is “the only path to a durable and just peace.” Waltz said Washington has “proposed generous terms for Russia, including sanctions relief,” and vowed that “under President Trump’s leadership, the United States will continue to pursue a path to peace in Ukraine.”

On Friday, Fox News Channel’s Gillian Turner reported that a Trump administration official said the United States has offered Ukraine a security guarantee modeled on NATO’s Article 5 — a commitment that would treat any attack on Ukraine as an attack on all and would require military defense.

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Firefighters work on the site of a burning building after a Russian attack in Kyiv, Ukraine, early Thursday, Aug. 28, 2025. (AP Photo/Efrem Lukatsky)

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The Associated Press reported that the leaders of Germany, France and the U.K. spoke with Zelenskyy Friday to reaffirm their “unchanged and full support on the way to a lasting and just peace” as diplomats scrambled to parse a U.S. proposal many first learned about through the media. Germany’s Bild newspaper said Merz canceled a domestic appearance to hold crisis calls with both Zelenskyy and Trump.

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Nathan Gill’s sentencing raises fresh questions over European lawmakers’ Kremlin ties

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A former British MEP has been sentenced to ten and a half years in prison for taking bribes in exchange for Russia-friendly posturing in the European Parliament. The sentence comes as scrutiny of European lawmakers’ ties to the Kremlin intensifies.

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