Trump Administration Targets Fed Governor Over Mortgage Fraud Allegations
The Trump administration is once again attempting to fire Federal Reserve Governor Lisa Cook over mortgage fraud allegations. This move comes after the Supreme Court allowed her to remain in her post while she fights the president's effort to terminate her.
Cook has denied the allegations, stating that she was only trying to take advantage of lower mortgage rates and smaller down payments on her primary residence. Her lawyer argued that it was an 'isolated notation' that did not reflect an intent to defraud.
The White House letter sent to Cook stated that Trump is considering removing her from her position, but cited the Supreme Court's requirement of proper notice in giving her until August 26 to challenge it.
Cook's lawyer responded by stating that 'these allegations are as baseless now as they were a year ago' and that she will continue to challenge the latest pretext and preserve her position.