White House Targets Fed Governor Over Mortgage Fraud Allegations

The White House has renewed its attempt to remove Lisa Cook from the Federal Reserve's Board of Governors, citing 'sufficient reason to believe' that she made false statements on one or more mortgage agreements.

A letter dated August 5 was sent to Cook's attorney, asking her to submit a written response within 21 days.

Cook has denied any wrongdoing and has not been charged with a crime. The allegations were first raised by the Trump administration last year and led to a Justice Department investigation.

Trump has long criticized the Federal Reserve for not lowering interest rates to his liking, particularly Cook and former Fed Chair Jerome Powell.

Cook's attorneys have called the allegations 'baseless' and said there is no valid cause for removing her from the Board of Governors.