Bessent made mortgage claims similar to ones Trump cited to try to fire Fed's Cook: Report

Treasury Secretary Scott Bessent erstwhile agreed to telephone 2 antithetic houses his "principal residence" astatine the aforesaid clip — a akin assertion to the 1 that President Donald Trump cited erstwhile helium tried to occurrence Federal Reserve Governor Lisa Cook, according to a report Wednesday.

Documents amusement that connected the aforesaid time successful September 2007, Bessent agreed that homes successful some Bedford Hills, New York, and Provincetown, Massachusetts, each would beryllium his main residence, Bloomberg reported.

Cook signed owe agreements declaring that houses successful Ann Arbor, Michigan, and Atlanta were each her main residences, according to anterior reports.

Cook signed those documents wrong 2 weeks of each different successful summertime 2021, earlier she was appointed to the Fed's Board.

Federal Housing Finance Agency Director Bill Pulte has repeatedly accused Cook of owe fraud aft posting her owe documents connected societal media successful August. The Justice Department opened an probe of Cook aft receiving a transgression referral from Pulte.

Trump said connected Aug. 25 that helium was firing Cook based connected Pulte's allegations. Cook, who has sued to artifact her removal, has denied committing owe fraud.

A U.S. District Court justice successful Washington, D.C., and a national appeals tribunal person ruled that Trump cannot occurrence Cook portion her suit continues.

Trump's effort to region Cook came aft helium unsuccessfully pressured the Fed for months to slash involvement rates.

Bessent, successful an interrogation successful August with Fox Business Network, was asked astir Cook's situation.

"There are radical who deliberation that President Trump is putting undue unit connected the Fed," Bessent said.

"And determination are radical similar President Trump and myself who deliberation that if a Fed authoritative committed owe fraud, that this should beryllium examined, and that they shouldn't beryllium serving arsenic 1 of the nation's starring fiscal regulators."

Bloomberg's caller study noted that Cook's and Bessent's situations are not identical.

Cook had personally signed her owe agreements, portion Bessent's were signed connected his behalf by a lawyer. And some of Bessent's mortgages were with the aforesaid bank, portion Cook's were with 2 antithetic banks.

However, determination is grounds that lenders knew Bessent's and Cook's existent plans for the respective properties.

Reuters reported past week that a May 2021 indebtedness estimation indicates that Cook had called the Atlanta spot a "vacation home."

Bessent's representatives gave Bloomberg a connection from Bank of America, which said the lender understood "that the Bedford and Provincetown properties were secondary residences."

CNBC has requested remark connected Bloomberg's study from the Treasury Department and the FHFA.

Charles Rich, the lawyer who represented Bessent successful the 2007 owe agreements, gave a connection to CNBC.

"I was Mr. Bessent's lawyer and cause nether a Power of Attorney made successful September 2007 erstwhile I signed a owe to concern the acquisition of a caller residence for Mr. Bessent successful Bedford Hills, New York nether a owe loan," Rich said.

"Concurrently with the 2007 closing, I executed a 2nd owe connected a spot located successful Provincetown, MA arsenic further collateral," helium said.

"Bank of America was afloat alert that the Provincetown, MA spot was not a main residence and waived immoderate request that it beryllium utilized arsenic a main residence," Rich said.

"There was perfectly thing improper astir Mr. Bessent's indebtedness applications with which helium was minimally progressive arsenic helium had delegated authorization to maine arsenic his lawyer and an cause to adjacent these indebtedness transactions," helium said.