Federal Reserve Governor Lisa Cook says she has no plans to resign after former President Donald Trump called for her to step down over allegations related to mortgage applications. Cook, the first Black woman to serve on the Federal Reserve Board, says she is gathering records to address the claims and remains committed to her role.

The allegations stem from a referral by Federal Housing Finance Agency Director William Pulte, who accused Cook of listing multiple properties in Michigan and Georgia as primary residences on mortgage documents. Cook responded by saying she takes the questions seriously and intends to provide accurate information. She also stated that she will not be pressured into resigning because of accusations raised publicly before any investigation has concluded.

The controversy comes as Trump continues to criticize the Federal Reserve and its leadership, particularly over interest rate policy. He has repeatedly called for lower rates and has publicly criticized Fed Chair Jerome Powell. Analysts have warned that attempts to remove senior Fed officials could raise concerns about the central bank’s independence and potentially unsettle financial markets.

At this time, neither the Department of Justice nor Attorney General Pam Bondi has announced whether a formal investigation will take place. Cook maintains that she will fully cooperate with any legitimate inquiries and says transparency remains a priority. The situation has also drawn attention because other Democratic officials, including Senator Adam Schiff and New York Attorney General Letitia James, are facing similar mortgage-related scrutiny. As the story develops, many will be watching to see whether the allegations lead to any official action.