Trump on Wednesday called for economist Lisa Cook to resign from the Fed Board of Governors over allegations of mortgage fraud.

President Donald Trump has called on Federal Reserve Governor Lisa Cook to resign amid a claim by a top administration official that she may have engaged in so-called mortgage occupancy fraud by falsely labeling a secondary home as her primary residence to get better loan terms.

Cook, the first Black woman to serve on the Fed board, said she had "no intention of being bullied to step down" after Trump called for her resignation.