Trump Revives Effort to Fire Fed Governor Over Mortgage Allegations

The Trump administration has revived its effort to fire Federal Reserve Governor Lisa Cook over mortgage allegations.

Cook was nominated to the Fed's Board of Governors by President Joe Biden and has been a target of the Trump administration since last year, when Bill Pulte, director of the Federal Housing Finance Agency, made a criminal referral accusing her of committing mortgage fraud.

Cook has defended herself against the allegations, saying she was not attempting to defraud anyone and that it was an 'isolated notation' in one of her mortgage applications.

The Supreme Court allowed Cook to retain her job while she fights the president's effort to terminate her, but Trump indicated he would try again after a 5-4 decision in June said proper procedures must be followed.

The White House sent Cook a formal notice on August 8, giving her until August 26 to respond, citing the Supreme Court's requirement of proper notice and a chance to contest it.