White House Seeks Removal of Fed Governor Over Mortgage Allegations

The White House is renewing its attempt to remove Lisa Cook from the Federal Reserve's Board of Governors, accusing her of making false statements on mortgage agreements.

Cook has denied any wrongdoing and was not charged with a crime. The Trump administration first raised the accusations last year, prompting a Justice Department investigation.

The White House sent a letter to Cook's attorney on August 5, asking for a written response within 21 days. Cook's attorneys have stated that the allegations are baseless and there is no valid cause for removing her from her position.

This development comes after the Supreme Court ruled in June that Cook was not given the opportunity to address the administration's accusations when President Donald Trump announced her firing last year.