By Jeremy Herb, CNN

(CNN) — For weeks, Bill Pulte has been one of the loudest voices inside the Trump administration calling for Federal Reserve Chair Jerome Powell to resign.

Now Pulte — a wealthy businessman turned Federal Housing Finance Agency Director, whose official remit seemingly has little connection to the Federal Reserve — has set in motion President Donald Trump’s most aggressive action yet to alter the future makeup and independence of the Fed’s Board of Governors, the consequential body that helps set interest rates.

Trump said Monday that he was dismissing Federal Reserve Governor Lisa Cook because of allegations of mortgage fraud that Pulte sent to the Justice Department last week.

Trump’s decision to try to fire Cook — setting up a potential legal battle at the Supreme Court —marked the most consequential example yet of how Pulte has become an unlikely political attack dog against the Federal Reserve and many of Trump’s perceived political enemies.

Pulte has 3 million followers on X and a social media profile nearly as active as the president’s. He’s waged an aggressive, multi-faceted campaign on social media and cable television against the Fed chair as Trump has fumed over Powell’s decision not to lower interest rates. And he’s even spread false rumors on official agency letterhead that Powell’s resignation would be imminent.

But perhaps the most consequential action Pulte has taken is sending three criminal referrals for alleged mortgage fraud to the Justice Department, sparking investigations into Cook and two longtime Democratic foils of Trump: California Sen. Adam Schiff and New York Attorney General Letitia James — who have both denied wrongdoing and called the moves politically motivated.

The Justice Department is now investigating James, Schiff and Cook following Pulte’s referrals, which accused each of claiming multiple primary residences on their mortgages. The probes are being led by Ed Martin, a DOJ official who was named head of the department’s weaponization working group after his confirmation to be US Attorney for the District of Columbia fizzled out.

Pulte touted the unprecedented nature of Cook’s firing on social media in a post Tuesday: “Trump becomes the first president ever to remove a sitting Federal Reserve governor,” he said, though it isn’t yet clear whether Trump’s maneuver will succeed.

Investigating Democrats

Pulte alleged in his letter to the Justice Department that Cook claimed two houses as primary residences, allowing her to obtain more favorable interest rates.

“For the sake of the country, I think she should just resign,” Pulte said on CNBC soon after.

A?CNN review?of mortgage documents shows that?Cook?took out mortgages for two properties, both of which were listed as her principal residence. However, it’s not known why she did so or if she did so intentionally.

Cook has not been formally charged with any wrongdoing. She has not explained the issue publicly, but said last week she was “gathering the accurate information to answer any legitimate questions and provide the facts.”

“There can be no mortgage fraud. This came across our desk, and it’s my duty to report it,”?Pulte said on CNBC. “It wouldn’t matter if she were a Republican or a Democrat. It is what it is.”

But while Pulte has sent referrals for Schiff, James and Cook, he has not apparently taken any steps in response to a July report from the Associated Press that Texas Attorney General Ken Paxton claimed three primary residences in mortgage documents — which James’ attorney claimed in a letter was evidence the investigations were politically motivated.

Paxton’s office did not respond to CNN’s request for comment. Pulte’s office did not respond to a request for comment on whether the allegations in the AP report are being examined.

Cook, the first Black woman appointed as a Fed governor, with a term set to expire in 2038, responded to calls for her resignation last week by saying she had “no intention of being bullied.”

Abbe Lowell, who represents Cook and James, said Tuesday that Cook would be filing a lawsuit challenging her firing and that Trump’s attempt to dismiss her “lacks any factual or legal basis.”

Pulte reacted to Cook’s claims of bullying in a subsequent TV appearance on Fox Business touting how much attention the allegations were receiving. “She can play this all she wants,” he said. “But people are smart. And I’ll tell you this right now — this is like the most viral story in the country right now.”

‘Blasting weighty allegations via social media’

As director of FHFA, Pulte is in the middle of Trump’s stated desire to privatize the mortgage giants Fannie Mae and Freddie Mac, as well as an administration proposal to allow homebuyers to use cryptocurrency assets to strengthen their mortgage applications. (Pulte owns between $500,000 to $1 million in Bitcoin, according to financial disclosure documents.)

Pulte was nominated to lead the FHFA after a career in private equity, as well as time on the board of his grandfather’s homebuilding company, PulteGroup. He’s worth at least $190 million, according to his financial disclosures.

Well before he was in government, Pulte gained notoriety and a social media following through his philanthropy, which included giving away money and free cars on Twitter. In 2019, he said on Twitter he would give away $30,000 to a military veteran if he got a retweet from Trump.

Pulte’s confirmation for a five-year term to run the FHFA in March did not slow down his social media activity, particularly when it comes to the Fed and Powell. Pulte’s relentless attacks against Powell helped give him an influence with Trump that far surpasses his role overseeing the mortgage giants Fannie and Freddie.

Pulte has repeatedly called for Powell to resign. He’s accused Powell of “conducting economic warfare against America.” He helped to amplify attacks about the cost of renovations to the Federal Reserve building that Trump leveled against Powell last month and sparked speculation Trump could try to fire the Fed chair. Pulte even accompanied the president and other aides on a tour of the Federal Reserve building.

He’s fueled a rumor campaign that Powell might resign, issuing a statement on agency letterhead citing “reports that Jerome Powell is considering resigning” when no such reports existed. He then proceeded to cite news reports on that statement in another statement two days later, saying he was “encouraged” by reports of a possible resignation.

In one of the more dramatic moves against Powell, Pulte drafted a termination letter that Trump would wave in front of a group of House Republicans at an Oval Office meeting earlier this month, according to three people familiar with the matter.

Trump has cheered his housing director on. “KEEP MOVING FORWARD, WILLIAM, DON’T LET THE RADICAL LEFT WEAKLINGS STOP YOU!” Trump said of Pulte on Truth Social last month.

Massachusetts Sen. Elizabeth Warren, the top Democrat on the Senate Banking Committee, sent a letter to Pulte last month chiding him for becoming “distracted from your statutory mission” and focused instead on Powell’s firing, noting he’d posted more than 100 times about Powell since the beginning of July.

“Your prolific activity on X and apparent decision to take time away from your duties as FHFA Director to draft a letter for President Trump to fire Chair Powell are abnormal,” Warren wrote. “Your behavior raises significant questions about your judgement and commitment to operating FHFA in a responsible, competent, and lawful manner.”

Pulte responded to the letter on X, saying Warren “in her typical hypocritical manner, spends her own days on social media attacking President Trump and others.”

In an op-ed titled “Weaponizing the Housing Regulator,” the conservative Wall Street Journal editorial board warned that Pulte’s actions to go after Trump’s enemies were “an ominous turn in political lawfare.”

“Blasting weighty allegations via social media or leaks is an ugly way for government regulators to behave,” the editorial board wrote.

CNN’s Phil Mattingly contributed to this report.

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