Trump Administration Seeks to Fire Fed Governor Over Mortgage Fraud Allegations
The Trump administration is pushing forward with its efforts to fire Federal Reserve governor Lisa Cook, despite her having been allowed by the Supreme Court to remain in her position pending a lawsuit. In June, the high court ruled 5-4 that Cook could stay at the Fed while she challenges President Donald Trump's attempt to terminate her over allegations of mortgage fraud.
Cook was nominated to the Fed's Board of Governors by President Joe Biden, but the Trump administration claims she committed mortgage fraud by declaring two homes as her primary residence. The Supreme Court's decision allowed Cook to remain in her post until her lawsuit is resolved, but it also noted that Trump could try again to fire her after giving her proper notice.
White House aide Dan Scavino sent a letter to Cook on August 8 stating that President Trump was considering removing her from her position and giving her until August 26 to challenge the move. Cook's lawyer, Abbe Lowell, responded by saying that the allegations against Cook are baseless and that she will continue to fight against her firing.