Trump Administration Seeks to Oust Federal Reserve Governor Over Mortgage Allegations

The Trump administration is moving forward with its efforts to fire Federal Reserve Governor Lisa Cook over mortgage fraud allegations, despite a Supreme Court ruling allowing her to remain in her post. In June, the high court said Cook could stay on as long as she continues to challenge her firing through the courts.

Chief Justice John Roberts noted that President Trump is free to 'try again' to fire Cook if he provides proper notice and allows her to contest it. Trump has vowed to take action after the ruling, and White House aide Dan Scavino sent a letter to Cook on August 16 stating that Trump was considering removing her from her position.

Cook's lawyer, Abbe Lowell, argues that she did not commit mortgage fraud, citing evidence that shows she mostly lived in one of the homes in question. The allegations are rooted in a referral made by Bill Pulte last August, accusing Cook of declaring two different homes as 'primary residences' to get better mortgage rates.