Trump Seeks to Remove Fed Governor Over Mortgage Fraud Allegations
The Trump administration is moving forward with its efforts to fire Federal Reserve Governor Lisa Cook over mortgage fraud allegations. The Supreme Court allowed her to remain in her position in June, but Chief Justice John Roberts noted that President Trump could try again to fire her after proper notice and a chance for her to contest it.
Cook was nominated by President Biden to the Fed's Board of Governors. She has denied the allegations, stating they were made on a 'manufactured pretext' because she refused to set interest rates based on political pressure. Her lawyer argued that Cook accurately referred to one of her homes as her primary residence in a mortgage application.
A White House aide informed Cook that Trump is considering removing her from her position, citing the Supreme Court's requirement for proper notice. This attempt to fire Cook is rooted in a criminal referral made by Bill Pulte last August, accusing her of committing mortgage fraud. Cook has maintained her innocence and plans to contest the latest attempt to remove her.