White House Fires Warning Shot at Fed Governor Lisa Cook Over Mortgage Allegations

The White House has again threatened to fire Federal Reserve Governor Lisa Cook over allegations of making false statements on two mortgage applications in Georgia.

Cook is accused of writing that two different properties were her primary residence, which would have allowed her to pay lower interest rates. This is not the first time President Trump has attempted to remove Cook from her position; he tried last year but was blocked by a Supreme Court ruling.

The White House sent a formal notice to Cook on August 5, giving her until August 26 to respond in writing to the allegations. The notice references an attached criminal referral and mentions that the Supreme Court recently determined Cook is entitled to notice of the allegations and an opportunity to respond prior to her removal.

Cook's lawyer, Abbe Lowell, has maintained that the allegations are 'baseless' and that there is no valid cause for removing Cook from her position. The White House's move is seen as a last-ditch effort to remove Cook after her continued presence was upheld by the Supreme Court in June.