Trump Administration Again Targets Fed's Lisa Cook Over Mortgage Fraud Allegations

The Trump administration is moving forward with its efforts to fire Federal Reserve governor Lisa Cook. The move comes after the Supreme Court allowed her to retain her job in June, pending a lawsuit challenging her firing over mortgage fraud allegations she denies.

Cook was nominated by President Joe Biden and has aggressively defended herself against the allegations, saying she was being ousted on a 'manufactured pretext' because of her refusal to bow to political pressure. Her lawyer argues that Cook accurately referred to two homes as her primary residences in mortgage applications, despite one also being listed as a vacation home.

White House aide Dan Scavino informed Cook by letter that Trump was considering removing her from her position and gave her until August 26 to challenge the move. The Supreme Court's Chief Justice John Roberts had written in his opinion that nothing forbids President Donald Trump from 'trying again' to fire Cook, provided she is given proper notice and a chance to contest it.

Cook's lawyer says they will challenge this latest attempt and preserve her position as governor of the Federal Reserve. The allegations against Cook are based on a criminal referral made by Bill Pulte, director of the Federal Housing Finance Agency, in August 2025.