Trump Pursues Lisa Cook's Removal from Federal Reserve Over Mortgage Fraud Allegations
President Donald Trump is pushing forward with his attempt to remove Federal Reserve Governor Lisa Cook from her position, citing unproven allegations of mortgage fraud. The move comes after a Supreme Court ruling in June that upheld limits on the president's ability to remove Fed officials without cause.
The White House notified Cook via letter that Trump was considering removing her and demanded she respond to the allegations within three weeks. Cook has denied wrongdoing and has never been charged with any crime, despite the Department of Justice launching an investigation into the matter last year based on referrals from Bill Pulte, a fierce ally of the president.
Cook's attorney Abbe Lowell stated that the allegations are 'baseless' and that there is no valid cause for removing her. The Supreme Court ruling did not take a position on the underlying facts but left the door open for Trump to attempt to remove Cook.