Lisa Cook: Documents exonerate Fed director in alleged fraud scandal

Government officials, led by Bill Pulte, director of the Financial Conduct Authority (FHFA), accuse Cook of declaring both her Atlanta property and a house in Michigan as her "primary residence." Such disclosures can give a homeowner advantages when it comes to mortgages and taxes. Banks assume borrowers will pay more reliably if they actually live in the property they purchased permanently. However, a ProPublica investigation shows that false or at least contradictory statements are not uncommon. Three members of Trump's cabinet alone have financed several properties with such home equity loans, but deny any wrongdoing.