Trump Administration Seeks to Fire Fed Governor Over Mortgage Allegations

The Trump administration is moving forward with its efforts to fire Federal Reserve Governor Lisa Cook. The move comes two months after the Supreme Court allowed her to retain her job while she fights the president's effort to terminate her over mortgage fraud allegations, which she has denied.

Cook was nominated to the Fed's Board of Governors by President Joe Biden and is accused of committing mortgage fraud by declaring two different homes as 'primary residence', which can result in lower mortgage rates or smaller down payments. She has aggressively defended herself against the allegations, saying the president had attempted to oust her on a manufactured pretext.

The White House aide Dan Scavino wrote to Cook this week, stating that Trump is considering removing her from her position and citing the Supreme Court's requirement of proper notice. Cook has until August 26 to challenge the move.