Trump Administration Revives Bid to Remove Fed Governor Over Mortgage Fraud Allegations
The Trump administration has renewed its bid to remove Federal Reserve Governor Lisa Cook from her position. The move comes after the Supreme Court ruled in June that President Donald Trump must give Cook notice and an opportunity to respond before making a final decision on her removal.
The new letter, dated August 5, was signed by longtime Trump aide Dan Scavino and gives Cook until August 26 to respond. The administration claims that Cook's alleged mortgage-fraud conduct constitutes 'cause' for removal and has undermined public confidence in the Federal Reserve.
Cook was first accused of making false statements on mortgage documents relating to properties she owned before joining the Federal Reserve in 2022. Her lawyers, Abbe Lowell and Norm Eisen, have rejected the allegations as 'baseless.' They argue that Cook had ample opportunity to provide an explanation but chose not to.
The administration maintains that the alleged conduct is serious enough to warrant removal. The White House has given Cook a formal opportunity to answer the accusations before Trump makes a final decision.