U.S. Treasury Secretary Scott Bessent reportedly agreed to claim two homes as his “principal residence,” similar to claims by President Donald Trump of mortgage fraud by Federal Reserve Governor Lisa Cook. Mortgage experts found no wrongdoing in Bessent’s filings, but accusations remain. Bank of America did not expect Bessent to occupy both homes.

Trump’s administration accuses Cook of mortgage fraud, seeking her removal from the Federal Reserve. A U.S. appeals court denied Trump’s attempt to fire Cook, leading to an appeal to the Supreme Court. The Justice Department has launched a criminal probe into Cook’s finances, including grand jury subpoenas in Georgia and Michigan.

Documents revealed discrepancies in pledges made by Bessent regarding his primary residences in New York and Massachusetts. Bessent defended the scrutiny on Fed officials, stating that allegations of mortgage fraud should be investigated. The situation highlights the tension between Trump and the Federal Reserve.

Read more at Yahoo Finance: US Treasury’s Bessent made contradictory mortgage pledges, Bloomberg reports