White House Threatens to Fire Fed Governor Over Mortgage Fraud Allegations

The White House has sent a warning letter to Federal Reserve governor Lisa Cook, threatening to fire her over allegations of mortgage fraud.

The letter, dated August 5, gives Cook three weeks to respond with supporting evidence before a final decision is made.

The move follows a Supreme Court ruling in late June that left open the possibility for President Donald Trump to renew his effort to remove Cook.

Cook's attorney, Abbe Lowell, dismissed the allegations as 'baseless' and vowed to challenge any attempt to remove her.