Cook Defies Trump Threat with Vow to Remain Fed Governor

Federal Reserve governor Lisa Cook has shot down President Trump's renewed threat to fire her from the central bank's governing board.

Cook, who was first targeted by Trump a year ago over allegations of mortgage fraud, denies any wrongdoing and claims there is no legal basis for her removal.

The charges against Cook stem from her declaration of two homes as 'primary residences' in mortgage applications, which can sometimes receive lower mortgage rates or down payments than second homes.

Cook maintains that she referred to one of the properties as a 'vacation home' and did not intend to deceive lenders, calling any errors 'inadvertent' rather than 'fraudulent.'