Trump Targets Fed Governor Lisa Cook Over Mortgage Fraud Allegations

Federal Reserve Governor Lisa Cook is facing renewed threats from the Trump administration to be removed from her position. The White House claimed that Cook committed mortgage fraud, but she denies any wrongdoing and points out that no charges have been proven in court.

The issue dates back to last year when Trump first sought to fire Cook over allegations of mortgage fraud. However, the Supreme Court ruled at the time that Cook could remain in her position while the case was litigated. Now, the White House is claiming that she can be removed for cause if they provide proper notice and a chance to contest it.

Cook's attorneys argued that there is no legal basis for Trump to remove her from the Fed's governing board. They pointed out that any errors in Cook's mortgage applications were unintentional and did not rise to a level that justified her firing.