Cook Rebuffs Trump Mortgage Fraud Allegations Again

Federal Reserve Governor Lisa Cook has rejected claims of mortgage fraud from President Donald Trump's administration. This marks the second attempt by Trump to remove her from the central bank's board.

Cook, the first Black woman to serve as a Fed governor, has consistently denied the allegations against her. In response to the White House's letter, Cook's attorney Abbe Lowell wrote that there is 'no legally cognizable cause for removing' her from the Federal Reserve Board.

The Supreme Court blocked Trump's first attempt in June in a 5-4 ruling, finding that he had failed to give Cook notice and a chance to answer the allegations. The court highlighted the importance of the Fed's independence but did not rule on the underlying mortgage fraud allegations.