Trump Renews Bid to Oust Fed Governor Over Mortgage Allegations

White House deputy chief of staff Dan Scavino signed a letter to Federal Reserve Governor Lisa Cook informing her that President Donald Trump is considering removing her from her position due to alleged mortgage fraud. The allegations, which were first made in August 2025, claim Cook committed mortgage fraud by claiming two homes as her primary residence to potentially obtain more favorable mortgage rates.

Cook's term on the Fed's board runs through 2038, and she has repeatedly denied the accusations. Her lawyers have positioned the latest move by the White House as an attempt to 'interfere with the independence of the Federal Reserve.'

The Supreme Court previously blocked Trump's attempt to fire Cook in June but opened a potential alternative legal pathway for her removal. The White House claims that the unproven allegations of mortgage fraud 'appear to demonstrate a level of gross negligence in financial transactions' and constitute cause for removal.