Trump Administration Seeks to Fire Fed Governor Over Mortgage Fraud Allegations

The Trump administration is moving forward with its efforts to fire Federal Reserve Governor Lisa Cook, despite a Supreme Court ruling allowing her to remain in her position while her lawsuit against the firing is ongoing.

Cook was nominated by President Joe Biden and has been accused of mortgage fraud over allegations that she improperly declared two homes as her primary residence. The president's administration appealed a lower-court ruling in Cook's favor, and White House aide Dan Scavino informed Cook via letter that Trump was considering removing her from her position.

Cook has denied the allegations, stating that she refused to bow to political pressure and continued to set interest rates based on what would best serve the American people. Her lawyer argued that it was accurate for her to refer to one of the homes as her primary residence in a mortgage application, citing evidence that she had mostly lived there since purchasing it in 2005.

The White House letter largely rehashes the year-old allegations, and Cook's lawyer has stated that 'these allegations are as baseless now as they were a year ago' and that 'no valid cause for removing Governor Cook exists under the facts and Supreme Court precedent.'