Trump Administration Moves Ahead to Fire Federal Reserve Governor Lisa Cook After Supreme Court Ruling

Trump moving forward with attempt to fire Lisa Cook after Supreme Court setback: Sources The White House demanded she respond to allegations within three weeks. President Donald Trump is moving forward with his attempt to remove Lisa Cook from the Federal Reserve over unproven allegations of mortgage fraud, sources say, in a move that is likely to spark a new legal battle over the independence of the central bank. In a letter this week, the White House notified Cook that the president was "considering" removing her from her role on the Federal Reserve Board of Governors and demanded that she respond to the allegations within three weeks, sources familiar with the letter told ABC News. The move follows a Supreme Court ruling in June that upheld limits on the president's attempt to remove members of the Federal Reserve stemming from the institution's historical independence. In a 5-4 decision, Chief Justice John Roberts said Cook was entitled to notice and an opportunity to respond to the allegations before she is removed "for cause." But the Supreme Court did not take a position on the underlying allegations against Cook and effectively left the door open for Trump to attempt to remove her. "Only after Cook has had the opportunity to respond to the charges made against her ... may a final decision be made," Roberts wrote. "And only then can the courts assess the validity and sufficiency of such charges." Following the decision, Trump signaled on social media that he would "take appropriate action immediately" to remove Cook from her position. "The Cook Lawsuit, having to do with her suitability in sitting on the Board of the Federal Reserve, was sent back by the Supreme Court on a strictly procedural basis, we will take appropriate action immediately to make sure that someone who has committed wrongdoing will not be making vital decisions concerning the Welfare of the United States of America!" Trump wrote on June 29. Trump appears to have followed through with his vow this week by formally initiating the process to remove Cook for "gross negligence" based on the allegations of mortgage fraud, which remain untested in court. Citing the Supreme Court's ruling in June, the letter signaled that Trump was carrying out the steps prescribed by the justices. While the letter -- which sources say was signed by Deputy Chief of Staff Dan Scavino -- alleged that Cook committed crimes that could be punished up to 30 years in prison, Scavino argued that her conduct constituted negligence that calls into question her trustworthiness as a Federal Reserve Governor, even if the allegations do not amount to a crime. "These allegations are as baseless now as they were a year ago when President Trump tried to remove Governor Cook and interfere with the independence of the Federal Reserve," Cook's attorney, Abbe Lowell, said in a statement to ABC News. "No matter what President Trump tries to do next, this much is clear under the facts and Supreme Court precedent -- there is no valid cause for removing Governor Cook. As we did before, we will challenge this latest pretext and preserve her position and the historic role of the Fed." Cook has denied wrongdoing and has never been charged with any crime. She was confirmed by the Senate in a 50-50 vote that required then-Vice President Kamala Harris to break the tie. "This was never about mortgage documents signed years before I became a Federal Reserve governor. It was an attempt to remove me on a manufactured pretext because I refused to bow to political pressure and continued to set interest rates based only on what would best serve the American people," Cook said in a statement after the Supreme Court's ruling. Trump initially sought to remove Cook from the Federal Reserve Board of Governors last August, as the president escalated a broader pressure campaign to push the central bank to lower interest rates. The allegations against Cook stem from two referrals made by Bill Pulte, a fierce ally of the president currently serving as the director of the Federal Housing Finance Agency as well as the chairman of Fannie Mae and Freddie Mac. In those roles, Pulte has made multiple criminal referrals against several of Trump's critics, including New York Attorney General Letitia James, Sen. Adam Schiff. Pulte briefly served as Acting Director of National Intelligence, during which he fired a third of his office and sparked bipartisan concern about his lack of national security experience and willingness to target the president's political opponents. Last year, the Department of Justice launched an investigation into Cook based on Pulte's allegations that she falsified bank documents to obtain favorable loan terms. Ed Martin, the U.S. Pardon Attorney and director of the DOJ's "Weaponization Working Group," also sent a letter to Federal Reserve Chairman Jermone Powell urging him to remove her from the job. "At this time, I encourage you to remove Ms. Cook from your Board. Do it today before it is too late! After all, no American thinks it is appropriate that she serve during this time with a cloud hanging over her," Martin wrote. Trump attempted to fire Cook days later based on the allegations, sparking an ongoing legal fight over the legality of the for-cause removal. Both a federal district judge and the U.S. Court of Appeals for the District of Columbia Circuit refused to allow the firing. "Cook is one of seven members of a Board that is, by design, not intended to be susceptible to policy pressure, let alone tasked with implementing the President's agenda," U.S. District Judge Jia Cobb wrote. In a 5-4 decision, the Supreme Court narrowly upheld those rulings and reiterated the Federal Reserve's unique role in overseeing the economy and its structural independence from the executive branch. "Any change in that scheme must come from Congress, not the courts," Chief Justice John Roberts wrote. "That is why we cannot accept the Government's contentions in this case. To do so would allow the President to remove a member of the Federal Reserve at any time, for any reason, without any notice before, and without any judicial check after." Trump's new effort to fire Cook is likely to reignite the legal battle over the Federal Reserve's independence, as courts are likely forced to weigh the allegations against Cook or whether Trump met the legal standard to remove her. "The ultimate question of whether the President can remove Cook for cause will depend in part on the underlying facts. In this opinion, we have not addressed the facts, as they have yet to be found or analyzed under the relevant legal standards," Roberts wrote in June.

Trump administration seeks to fire Fed Reserve Gov. Lisa Cook Move follows Supreme Court’s decision to block Trump’s 1st attempt Berk Kutay Gökmen 07 August 2026•Update: 07 August 2026 İSTANBUL The Trump administration has renewed its effort to remove US Federal Reserve Gov. Lisa Cook, giving her 21 days to respond to mortgage fraud allegations, according to a letter shared by media on Friday. The move followed the Supreme Court's decision earlier this year blocking Trump's first attempt, ruling Cook was not given notice or an opportunity to respond. The new letter aims to address those procedural requirements in an unprecedented bid to remove a sitting Fed governor. Reported by ABC News, the letter revives the same mortgage fraud allegations, which the White House says constitute "cause" for removal and "undermines public confidence" in the Federal Reserve. It gives Cook until Aug. 26 to respond before Trump makes a final decision and says the notice is being provided "pursuant to the Supreme Court's opinion." "You have known since at least August 25, 2025, about these allegations. Yet, even though it has been over 10 months, you have never provided an explanation for this serious misconduct, despite having ample opportunity to do so," said the letter. Cook's lawyers, Abbe Lowell and Norm Eisen, rejected the allegations, saying: "These allegations are as baseless now as they were a year ago when President Trump tried to remove Governor Cook and interfere with the independence of the Federal Reserve." "No matter what President Trump tries to do next, this much is clear under the facts and Supreme Court precedent -- there is no valid cause for removing Governor Cook," they added. "As we did before, we will challenge this latest pretext and preserve her position and the historic role of the Fed." Trump administration seeks to fire Fed Reserve Gov. Lisa Cook

Trump administration moves ahead with efforts to fire Federal Reserve governor Lisa Cook WASHINGTON (AP) — The Trump administration is moving ahead with its efforts to fire Federal Reserve governor Lisa Cook, two months after the Supreme Court allowed her to retain her job while she fights the president’s effort to terminate her over mortgage fraud allegations that she has denied. The justices, in a 5-4 decision in June, said Cook, who was nominated to the Fed’s Board of Governors by President Joe Biden, could remain in her post at least as long as her lawsuit challenging her firing goes on. The Trump administration is appealing a lower-court ruling in Cook’s favor. Supreme Court Chief Justice John Roberts wrote in a footnote in his opinion that nothing forbids President Donald Trump from “trying again” to fire Cook, provided she is given proper notice and a chance to contest it. Trump indicated, after the opinion, that he would do just that, vowing to “take appropriate action immediately.” In a letter this week obtained by The Associated Press, White House aide Dan Scavino told Cook that Trump was “considering removing you from your position” but cited the Supreme Court’s requirement of proper notice in giving her until August 26 to challenge it. The attempt to fire Cook is rooted in a criminal referral made last August by Bill Pulte, the director of the Federal Housing Finance Agency, that accused her of committing mortgage fraud by declaring two different homes – one in Ann Arbor, Michigan, and one in Atlanta – as “primary residence.’’ Homebuyers can get lower mortgage rates or smaller down payments on their primary homes compared to second or vacation homes. Cook has aggressively defended herself against the allegations, saying the president had attempted to oust her “on a manufactured pretext because I refused to bow to political pressure and continued to set interest rates based only on what would best serve the American people.’’ Her lawyer, Abbe Lowell, argued in a November letter that Cook has mostly lived in the Ann Arbor property since first purchasing it in 2005. As a result, it was accurate for her to refer to it as her “primary residence” in a June 2021 application to refinance its mortgage, the letter said. A month later, she purchased a condominium in Atlanta and, in a July 2021 document, also referred to it as her “primary residence.” Lowell said that it was an “isolated notation” that did not reflect an intent to defraud. An earlier mortgage application to the same lender in May 2021 had referred to the Atlanta condo as a “vacation home,” Lowell said. Cook also referred to it as a second home in federal filings during her confirmation process to become a Fed governor. The latest White House letter largely rehashes the year-old allegations. “These allegations are as baseless now as they were a year ago when President Trump tried to remove Governor Cook and interfere with the independence of the Federal Reserve,” Lowell said in a statement. “No matter what President Trump tries to do next, this much is clear under the facts and Supreme Court precedent — there is no valid cause for removing Governor Cook. As we did before, we will challenge this latest pretext and preserve her position and the historic role of the Fed,” he added.

Washington — The White House has informed Lisa Cook, a member of the Federal Reserve Board of Governors, that President Trump is considering firing her from her post because of allegations of mortgage fraud, according to a letter to Cook that was obtained by CBS News. The move comes after the Supreme Court in June from firing Cook while a legal challenge to her attempted removal last year moves forward. The high court said in its 5-4 decision that the president failed to afford Cook the procedural protections she was entitled to under the law, namely notice and the opportunity to respond to the accusations against her, before she was fired.Mr. Trump said in the wake of the decision that his administration would "take appropriate action" to fire Cook, and the White House now appears to be attempting to remedy the issues raised by the high court. In the letter obtained by CBS News, dated Aug. 5, White House deputy chief of staff Dan Scavino laid out the allegations against Cook and set an Aug. 26 deadline for her to provide a response to the claims. "Pursuant to the Supreme Court's opinion from June 29, 2026, you are hereby provided notice that the President is considering removing you from your position on the Board of Governors of the Federal Reserve due to there being sufficient reason to believe that you made false statements on one or more mortgage agreements," he wrote. Cook's attorneys, Abbe Lowell and Norm Eisen, vowed to "challenge this latest pretext and preserve her position and the historic role of the Fed." "These allegations are as baseless now as they were a year ago when President Trump tried to remove Governor Cook and interfere with the independence of the Federal Reserve," they said in a statement. "No matter what President Trump tries to do next, this much is clear under the facts and Supreme Court precedent — there is no valid cause for removing Governor Cook." ABC News first reported that Mr. Trump is considering firing Cook again. The allegations against Cook were raised by Bill Pulte, a senior housing official in the Trump administration, in a criminal referral he sent to the Justice Department nearly one year ago. Pulte claimed that Cook made misrepresentations on mortgage filings related to two properties, one in Michigan and a second in Georgia, before she was nominated to the Fed Board by former President Joe Biden in 2021. Cook has denied wrongdoing and she has not been charged with a crime. Scavino claimed in his letter to the Fed governor that the alleged actions "may be sufficient to demonstrate that you committed a crime." "There is a distinct nexus between a basic level of trustworthiness and care in financial matters and the duties of a Member of the Board of Governors," he wrote. "Because the allegations in the Criminal Referral reflect on your honesty, trustworthiness, and competence to perform the duties of the office you currently hold, the President has determined that there is reason to believe they constitute cause to remove you from your position on the Board of Governors of the Federal Reserve." Mr. Trump first attempted to fire Cook last year over the claims she committed mortgage fraud. She swiftly filed a lawsuit challenging her removal and asked a federal court to reinstate her to the role. Cook prevailed in blocking her firing in and a federal appeals court in Washington, D.C. The Supreme Court in June also allowed her to remain in her post as a Fed governor as her lawsuit moves forward. To accept the government's arguments that Mr. Trump can fire Cook "would in effect transform the Federal Reserve's for-cause protection into at-will employment — an interpretive leap out of step with the statute Congress enacted and our Nation's tradition of central banking protected from political interference," Chief Justice John Roberts wrote for the five-justice majority. He was joined by Justices Sonia Sotomayor, Elena Kagan, Brett Kavanaugh and Ketanji Brown Jackson.

President Donald Trump is "considering" firing Federal Reserve Board Governor Lisa Cook, the White House said this week, reviving an effort that had been stymied by the Supreme Court in June. White House presidential aide Dan Scavino, in a letter to Cook dated Wednesday, said there is "sufficient reason to believe that you made false statements on one or more mortgage agreements." Those are the same allegations Trump and his allies floated when he first moved to fire Cook from the central bank last year. Cook denied the charges and filed a lawsuit challenging her dismissal. A federal court blocked Trump from firing Cook while her suit was pending. The Supreme Court, in a 5-4 ruling in late June, upheld that decision against a challenge the president. But Chief Justice John Roberts noted that the court's decision did not stop Trump from trying again to remove Cook over the mortgage fraud allegations. Any new attempt to fire her would require additional steps in order to protect Cook's Constitutional due process rights, Roberts wrote. Scavino, Trump's deputy chief of staff and director of the Office of Presidential Personnel, wrote that he was sending Wednesday's letter "pursuant to the Supreme Court's opinion." He instructed Cook to provide an "explanation for your false statements and accompanying evidence" within three weeks. Abbe Lowell, a lawyer for Cook, told CNBC in a statement that the allegations "are as baseless now as they were a year ago when President Trump tried to remove Governor Cook and interfere with the independence of the Federal Reserve." "No matter what President Trump tries to do next, this much is clear under the facts and Supreme Court precedent — there is no valid cause for removing Governor Cook," Lowell's statement said. "As we did before, we will challenge this latest pretext and preserve her position and the historic role of the Fed." The Federal Reserve declined to comment on the White House's letter. Trump's initial move to fire Cook, who was appointed by former President Joe Biden, came as he ramped up his efforts to pressure the Fed to slash interest rates. The mortgage-related allegations were surfaced by Federal Housing Finance Agency Director Bill Pulte, who has been criticized as an "attack dog" for Trump. Pulte has also targeted other of Trump's perceived political foes, including New York Attorney General Letitia James, who also faced allegations of mortgage-related wrongdoing. — CNBC's Dan Mangan and Jeff Cox contributed to this report.

El presidente Donald Trump vuelve a intentar destituir a la gobernadora de la Reserva Federal, Lisa Cook, con una nueva carta de la Casa Blanca. La defensa de Cook califica las acusaciones de infundadas y promete otro desafío judicial. *** - Trump reanuda el intento de despedir a Lisa Cook con una nueva carta de la Casa Blanca. - La Corte Suprema ya bloqueó un despido anterior, pero el presidente intenta ahora con un nuevo procedimiento. - La defensa de Cook califica las acusaciones de infundadas y promete impugnar la medida. La Casa Blanca confirmó que el presidente Donald Trump está “considerando” despedir a la gobernadora de la Junta de la Reserva Federal, Lisa Cook, según informó CNBC. El ayudante presidencial Dan Scavino envió una carta a Cook con fecha del miércoles, en la que se le acusa de haber hecho declaraciones falsas en acuerdos hipotecarios. Esas acusaciones son las mismas que Trump y sus aliados plantearon cuando intentaron remover a Cook el año pasado. La gobernadora negó los cargos y presentó una demanda impugnando su destitución. Un tribunal federal bloqueó el despido de Cook mientras su demanda estaba pendiente. La Corte Suprema, con una decisión de 5 a 4 a fines de junio, respaldó esa decisión contra una impugnación del presidente. Sin embargo, el presidente del Tribunal Supremo, John Roberts, señaló que la sentencia no impedía que Trump intentara nuevamente destituir a Cook por las acusaciones de fraude hipotecario. Aclaró que cualquier nuevo intento requeriría pasos adicionales para proteger los derechos constitucionales de debido proceso de Cook. La carta de Scavino se envía “de conformidad con la opinión de la Corte Suprema”, según indicó el propio funcionario. En el documento, se instruye a Cook a proporcionar una “explicación de sus declaraciones falsas y la evidencia correspondiente” dentro de tres semanas. Esta nueva acción reaviva la controversia sobre la independencia de la Reserva Federal y el alcance del poder presidencial para remover a sus funcionarios. El caso tiene implicaciones significativas para la política monetaria y la credibilidad del banco central. El historial del caso El año pasado, Trump intentó por primera vez despedir a Cook, acusándola de haber cometido fraude hipotecario. Estas acusaciones surgieron en el contexto de una investigación sobre sus finanzas personales. Cook, quien fue nombrada por el propio Trump, ha negado rotundamente los cargos. Su abogado, Abbe Lowell, calificó las acusaciones de “infundadas” y afirmó que no existe causa válida para su destitución. La gobernadora presentó una demanda contra el intento de despido, lo que llevó a un tribunal federal a emitir una orden que bloqueaba su remoción. Esa orden fue impugnada por la administración, pero la Corte Suprema la ratificó. La decisión de la Corte Suprema fue dividida, con 5 votos a favor de mantener el bloqueo. El presidente del Tribunal, John Roberts, escribió una opinión que dejaba abierta la posibilidad de un nuevo intento con mayores garantías procesales. El caso de Cook se convirtió en un precedente importante sobre los límites del poder presidencial sobre la Reserva Federal. La independencia del banco central es un principio clave para la estabilidad económica del país. La nueva carta de la Casa Blanca busca cumplir con los requisitos señalados por Roberts, pero la defensa de Cook sostiene que las acusaciones siguen sin fundamento. La batalla legal podría extenderse nuevamente. La nueva carta de la Casa Blanca El miércoles, Dan Scavino, subjefe de gabinete y director de la Oficina de Personal Presidencial, envió la carta a Cook. En ella, se le otorga un plazo de tres semanas para presentar su explicación sobre las supuestas declaraciones falsas en acuerdos hipotecarios. La misiva está fechada el miércoles, pero no se especifica si fue entregada directamente o por correo. La Casa Blanca no ha hecho comentarios adicionales sobre el contenido exacto de la carta. Según CNBC, la carta es el primer paso formal en el nuevo proceso de destitución. Trump había expresado anteriormente su intención de remover a Cook, pero ahora busca un camino legal más sólido. La estrategia de la administración parece ser cumplir con los requisitos de debido proceso señalados por la Corte Suprema. Sin embargo, los expertos en derecho constitucional dudan de que las acusaciones sean suficientes para una destitución. La gobernadora Cook, por su parte, ha mantenido su inocencia y ha señalado que está dispuesta a defenderse. Su equipo legal ya prepara una respuesta a la carta de la Casa Blanca. La situación genera incertidumbre en los mercados financieros, que siguen de cerca cualquier movimiento relacionado con la Reserva Federal. La independencia del banco central es un factor clave para la confianza de los inversores. La respuesta de Cook y su defensa Abbe Lowell, abogado de Cook, respondió a la carta con un comunicado contundente. Afirmó que las acusaciones “son tan infundadas ahora como hace un año, cuando el presidente Trump intentó destituir a la gobernadora Cook e interferir con la independencia de la Reserva Federal”. Lowell dijo que “no importa lo que el presidente Trump intente hacer a continuación, esto está claro según los hechos y el precedente de la Corte Suprema: no existe una causa válida para destituir a la gobernadora Cook”. El abogado también adelantó que impugnarán este nuevo intento. “Como hicimos antes, impugnaremos este último pretexto y preservaremos su posición y el papel histórico de la Fed”, afirmó. La Reserva Federal no respondió de inmediato a la solicitud de comentarios de CNBC sobre la carta. Esta falta de respuesta es habitual en casos legales en curso. Cook, quien fue la primera mujer afroamericana en servir en la Junta de la Fed, ha sido una figura respetada en el ámbito económico. Su posible destitución podría tener repercusiones políticas y económicas. La defensa de Cook se basa en que las acusaciones de fraude hipotecario son falsas y que no hay evidencia que las respalde. El caso se centrará en si la Casa Blanca puede justificar su remoción con base en estas acusaciones. La batalla legal podría llegar nuevamente a la Corte Suprema, lo que prolongaría la incertidumbre sobre la composición de la Fed. Mientras tanto, Cook continúa ejerciendo sus funciones como gobernadora. Implicaciones para la Fed y los mercados La Reserva Federal es una institución diseñada para ser independiente del poder político. La interferencia presidencial en su funcionamiento podría generar desconfianza en los mercados. Los inversores estarán atentos a cualquier desarrollo en este caso, ya que podría afectar las decisiones de política monetaria. La falta de estabilidad en la Junta podría influir en las expectativas sobre tasas de interés. La situación también podría tener implicaciones políticas para Trump, quien ha sido criticado por su manejo de nombramientos en la Fed. La oposición demócrata ha expresado su preocupación por la presión presidencial. A pesar de la controversia, la Corte Suprema ha establecido límites claros, lo que ofrece cierta protección a los funcionarios del banco central. El proceso legal será determinante para el futuro de Cook y para el precedente que se establezca. La historia continúa desarrollándose, y se espera que Cook presente su respuesta en el plazo establecido. Mientras tanto, el mundo financiero observa con atención los próximos pasos de la Casa Blanca y la defensa de la gobernadora. Imagen original de DiarioBitcoin, creada con inteligencia artificial, de uso libre, licenciada bajo Dominio Público. Este artículo fue escrito por un redactor de contenido de IA y revisado por un editor humano para garantizar calidad y precisión. ADVERTENCIA: DiarioBitcoin ofrece contenido informativo y educativo sobre diversos temas, incluyendo criptomonedas, IA, tecnología y regulaciones. No brindamos asesoramiento financiero. Las inversiones en criptoactivos son de alto riesgo y pueden no ser adecuadas para todos. Investigue, consulte a un experto y verifique la legislación aplicable antes de invertir. Podría perder todo su capital.

The American president sends a letter to the Federal Reserve governor to try to remove her from office despite the Supreme Court safeguarding the autonomy of the agency Donald Trump is relentless. The U.S. president is once again pressing against Lisa Cook, the Federal Reserve governor who opposes his meddling in the body that governs monetary policy. The White House sent a letter to the Fed’s first Black female governor last Wednesday informing her that it plans to oust her after accusing her, without evidence, of irregularities in a mortgage loan application to secure better financial terms, according to ABC News advance release. The threat of dismissal comes one month after the Supreme Court blocked a preemptive attempt by the Trump Administration to remove her. The Court’s ruling argued that the White House did not prove “just cause.” The justices highlighted in the decision that Cook’s attempted dismissal has been fraught with irregularities by the Government. While they acknowledge that the president may remove her for just cause, they note that Trump attempted to dismiss her without the recipient receiving a signed letter of removal, without hearing her arguments, and without a prior file. The Trump Administration now sends a letter in an effort to prove “just cause” with the proper notice. The missive is signed by Dan Scavino, one of the White House’s senior officials, who gives Cook a 21-day deadline to respond to the mortgage fraud accusations. Trump launched his first offense against Cook in August of last year. He posted a letter, unsigned and without letterhead, on social media accusing her of fraud in the application for a mortgage loan. Officially, Cook has not been charged with any crime, and all courts that reviewed her case ruled in her favor. The governor, appointed by Joe Biden in 2022 and whose term ends in 2038, sued Trump over the attempt to remove her. The Supreme Court’s ruling safeguarded the Federal Reserve’s independence and its officials from executive power. The decision stated: “Accepting any of the Trump administration’s arguments would, in practice, transforming the Federal Reserve’s protection against arbitrary removal, which requires just cause, into a at-will employment regime; it would be an interpretive leap incompatible with the law enacted by Congress and with our nation’s tradition of maintaining a central bank protected from political interference.” However, it left open the door to further attacks by Trump against the agency responsible for setting the price of money. The U.S. president already warned after the high court’s ruling that he would challenge the decision. Trump recalls that the Federal Reserve Act allows the president to dismiss officials in office “for cause,” a premise that has historically been interpreted as gross negligence. The Republican leader decided to remove the governor after one of his advisers reported that Cook had stated in 2021, before her nomination to the Fed, two different residences as her primary residence on forms to apply for a mortgage loan. Banks typically grant lower interest rates for primary residences as they are considered less risky. "These allegations are as baseless now as they were a year ago, when President Trump tried to remove Governor Cook and interfere with the independence of the Federal Reserve," Cook’s lawyers told The New York Times. "Regardless of what President Trump does next, this is evident by the facts and Supreme Court jurisprudence: there is no valid cause to remove Governor Cook. As we did before, we will challenge this latest pretext and preserve her position and the Federal Reserve’s historic role." The letter sent by Scavino to Cook is full of suppositions and conditionals, is confusing, and raises legal doubts. "The actions of the Federal Reserve governor could be enough to show that you committed a crime, since it appears she acquired mortgages that do not meet certain loan requirements and may have received favorable loan terms under fraudulent circumstances," the letter states. "Based on these facts, a jury could determine that you intended to defraud these institutions for your own benefit, but at minimum, this conduct was grossly negligent and shows that you are not fit for the role you hold as a decision-making member of the Federal Reserve," it adds.

El intento tiene lugar después de que el Tribunal Supremo dictaminara en junio que la funcionaria podía permanecer en su puesto mientras se resolvía el caso. Donald Trump ha retomado su intención de destituir a Lisa Cook como gobernadora de la Reserva Federal, a pesar de que el Tribunal Supremo de Estados Unidos bloqueó en junio sus planes anteriores. La Casa Blanca ha escrito a Cook esta semana diciéndole que está "considerando" despedirla, según Financial Times. Este nuevo intento de destituir a la gobernadora de la Reserva Federal se produce después de que la Corte Suprema de EEUU dictaminara en junio que Cook podía permanecer en su cargo mientras el caso avanzaba en los tribunales inferiores. Trump intentó despedir a Cook en agosto del ańo pasado por acusaciones de fraude hipotecario a raíz de unos documentos que parecían demostrar que ella había declarado dos propiedades como su residencia principal. Para economistas e inversores, el caso contra Cook es una prueba más de los esfuerzos de la Casa Blanca por socavar la independencia de la Reserva Federal y presionarla para que redujera los tipos de interés. El Departamento de Justicia también inició una investigación penal contra el expresidente de la Fed, Jerome Powell, por la renovación de la sede del banco central en Washington, aunque esta fue posteriormente archivada.

Just on the day the July labor report turned out to be a disaster, with a loss of 23,000 jobs, the White House moved to shift the conversation with an antidote. Official sources leaked that President Donald Trump is “considering” removing Federal Reserve Governor Lisa Cook, reviving an effort that the Supreme Court had thwarted last June. He has her in his crosshairs, and if there is one thing the American president does not accept, it is a no to his decisions. In a letter to Cook dated Wednesday, Dan Scavino, White House presidential staffer and deputy chief of staff, said there are “sufficient reasons to believe you made false statements in one or more mortgage contracts.” These are the same accusations Trump and his allies raised when he first tried to remove Cook from the Fed board about a year ago. Cook denied the charges and filed a lawsuit challenging her removal. A federal court blocked Cook’s dismissal while her suit was pending. Subsequently, in one of the last rulings of this session, the U.S. Supreme Court, in a 5-4 vote, upheld that decision against the president’s appeal. However, Supreme Court Chief Justice John Roberts noted that the court’s decision did not prevent Trump from trying to remove Cook again based on the mortgage-fraud allegations. Roberts wrote that any new attempt to dismiss would require additional steps to ensure Cook’s due process rights as laid out by the Constitution, and that Trump skipped the process in his first attempt. This is because the Court did not rule on the merits of the accusations against Cook and, in practice, left the door open for Trump to try to remove her. “Only after Cook has had the opportunity to respond to the accusations against her … can a final decision be made,” Roberts wrote. “And only then can courts assess the validity and sufficiency of those accusations,” he added. After the decision, Trump said on social media that he would immediately take the appropriate measures to remove Cook. Scavino, Trump’s deputy White House chief of staff and director of the Office of Presidential Personnel, explained that he was sending Wednesday’s letter “in accordance with the Supreme Court’s opinion.” He also urged Cook to submit, within three weeks, “an explanation of her false statements and the corresponding evidence,” in a draft that, without judgment or anything, already treats as proven the fraud that Cook has denied and has presented documentation. Abbe Lowell, Cook’s attorney, told CNBC that the accusations “today lack the same basis as a year ago, when President Trump tried to remove Governor Cook and interfere with the independence of the Federal Reserve.” “Whatever President Trump does next, one thing is clear both in light of the facts and Supreme Court jurisprudence: there is no valid cause to remove Governor Cook,” Lowell emphasized. “As we did before, we will challenge this new pretext and defend her office and the Fed’s historic role,” he insisted. The Fed declined to comment on the letter sent by the White House. Trump’s first attempt to remove Cook, appointed by former President Joe Biden, occurred when he intensified his pressure campaign on the Fed to cut interest rates. The mortgage-related accusations were leveled by Bill Pulte, head of the Federal Housing Finance Agency (FHFA), who has been labeled a “attack dog” in Trump’s service. Pulte has leveled similar allegations against other top Democratic officials, though it has not yet been shown that they were true.

Trump renews push to fire Fed Governor Lisa Cook President Trump is once again threatening to fire Federal Reserve Governor Lisa Cook over unproven allegations of mortgage fraud. The move comes just over a month after the Supreme Court blocked Trump's earlier effort to remove Cook. Deputy White House Chief of Staff Daniel Scavino sent a letter to Cook this week, demanding that she respond to allegations that she made false statements on mortgage applications. Those charges were first raised by Trump ally William Pulte, who oversees mortgage giants Fannie Mae and Freddie Mac. "Even if your conduct does not rise to the level of felony offense, it appears to demonstrate a level of gross negligence in financial transactions that calls into question your competence and trustworthiness as a financial regulator," Scavino wrote. Cook has denied any wrongdoing. "These allegations are as baseless now as they were a year ago when President Trump tried to remove Governor Cook and interfere with the independence of the Federal Reserve," Cook's attorney Abbe Lowell said in a statement. "There is no valid cause for removing Governor Cook. As we did before, we will challenge this latest pretext and preserve her position and the historic role of the Fed." The renewed push to fire Cook was first reported by ABC news. Trump's earlier effort to oust Cook came at a time when the president was deeply critical of the central bank for not cutting interest rates more aggressively. He also threatened to fire Jerome Powell, who was then chairman of the Fed. Powell's term as Fed chair expired in May, though he continues to serve on the board. In June, the Supreme Court ruled 5 to 4 that the Federal Reserve occupies a special place in the U.S. government and that presidents can only remove Fed governors for cause. It will be up to lower courts to decide whether the allegations against Cook meet that standard.

Aug 7 (Reuters) - U.S. President Donald Trump is renewing his effort to fire Federal Reserve Governor Lisa Cook, keeping alive his assault on the central bank's independence even after the U.S. Supreme Court in June dealt him a significant setback in his bid to remove her earlier this year, according to a letter seen by Reuters. The White House told Cook in a letter this week that the president was "considering" removing her from her role and demanded she respond to unproven mortgage fraud allegations within three weeks — allegations her attorney called "baseless." Sign up here. The salvo against Cook is the second time this week Trump has restarted an effort to take actions that the Supreme Court blocked earlier this year. Trump earlier this week also issued another order attempting to limit birthright citizenship after the high court ruled against his previous effort to limit who is automatically considered a U.S. citizen. The letter to Cook, signed by Deputy Chief of Staff Dan Scavino and first reported by ABC News, alleged that she committed crimes that could be punishable by up to 30 years in prison and that her conduct constituted negligence that called into question her trustworthiness as a Fed governor. In a statement, Cook's lawyer said "there is no valid cause" for removing Cook from her position. "As we did before, we will challenge this latest pretext and preserve her position and the historic role of the Fed," attorney Abbe D. Lowell said. The Federal Reserve and White House had no comment. Trump last year cited mortgage fraud in trying to fire Cook, the first Black woman to serve as a Fed governor. Cook denied the allegations, calling them a pretext to remove her for monetary policy differences. The U.S. Supreme Court refused in June to allow the firing, preserving the central bank's independence against the Republican president's unprecedented challenge. Trump repeatedly threatened to fire former Fed Chair Jerome Powell for refusing to bow to the president's demands that he lower interest rates. His hand-picked successor to Powell, Kevin Warsh, took the reins in May. Since then, Trump has redirected his criticisms at other Fed board members, a majority of whom were appointed by Trump's predecessor, Democrat Joe Biden, while saying he will not be criticizing Warsh, who has not yet delivered Trump's wished-for rate cuts. FOR CAUSE VS AT WILL The Supreme Court's 5-4 ruling blocked Trump from removing Cook for now, providing a safeguard for the Fed specifically. No other president since the central bank's founding in 1913 had sought to oust a Fed governor. Conservative Chief Justice John Roberts, who authored the high court ruling, said Trump had "failed to afford Cook the procedural protections to which she was entitled by statute. Without such protections, she could not properly dispute the charges the president laid against her." While the ruling definitively protects Fed officials from being fired at will by a president, the court said its ruling was not deciding the validity of the factual dispute in the case. It has since returned the case to lower courts. "It at least remains an open question what precisely happened here, and indeed whether Cook committed 'gross negligence,' let alone 'deceitful and potentially criminal conduct,' as the president's letter alleges," Roberts wrote. Peter Conti-Brown, a professor at the Wharton School of the University of Pennsylvania, said the high court's Cook ruling, which rested on procedural grounds, invited “meddling by the president in exactly this way, so it doesn't surprise me.” “There is no doubt among any Fed watchers of any partisan stripe of whom I'm aware about the motivation here. It is pretextual,” he said, and uses mortgage fraud allegations as a vehicle to target Cook and try to drive her off the Fed. He predicted Cook would prevail in the case due to the still-unproved charges, but estimated it could take a year or so to resolve, similar to the first case. CRIMINAL REFERRAL The Scavino letter to Cook resurfaces allegations of mortgage fraud made last year by Federal Housing Finance Agency Director William Pulte, who asked the Justice Department last year to open a criminal investigation into Cook and others over alleged mortgage fraud. There has been no indication of any such criminal investigation moving forward, and a Reuters report last year showed Cook in submissions to the lender for one of the homes at issue had listed it as a vacation property. Reuters subsequently reported the local tax authority in Michigan said Cook had not broken rules for tax breaks on a home there that Cook declared her primary residence. U.S. District Judge Jia Cobb in September ruled that Trump's attempt to remove Cook without notice or a hearing likely violated her right to due process under the U.S. Constitution's Fifth Amendment. Cobb also said the allegations likely were not legally sufficient to remove Cook under the Federal Reserve Act as they relate to conduct that occurred before she served in the post. Roberts, in his ruling, did not agree with that standard for cause but said nonetheless the standard to meet for dismissal of a Fed governor would need to be a "substantial threshold," and that Cook must be able to respond to the charges against her. Reporting by Humeyra Pamuk in Washington and Ryan Patrick Jones in Toronto; additional reporting by Bhargav Acharya and Michael S. Derby; editing by Michelle Nichols and David Gaffen Our Standards: The Thomson Reuters Trust Principles.

Donald Trump is attempting once again to oust the US Federal Reserve governor Lisa Cook over allegations of mortgage fraud, despite a recent US supreme court decision that upheld the central bank’s independence. Cook reportedly received a letter from the White House this week that provided notice, in accordance to the supreme court’s June ruling, that Trump was “considering removing” her from her Fed position over the same claims of mortgage fraud that he levied against her last summer. The letter, first reported by ABC News, accused Cook of falling “well short of the standard” required of a sitting Fed governor and requested she provide a written response to the allegations within three weeks. The supreme court in June ruled 5-4 that Cook was entitled to stay on as Fed governor while she fights the president’s allegations, writing in its majority opinion that Trump “failed to afford Cook the procedural protections to which she was entitled by statute”. “Without such protections, she could not properly dispute the charges the president laid against her,” the justices said. In response to the White House’s letter, one of Cook’s lawyers, Abbe D Lowell, called the allegations “as baseless now as they were a year ago when President Trump tried to remove Governor Cook and interfere with the independence of the Federal Reserve”. “No matter what President Trump tries to do next, this much is clear under the facts and Supreme Court precedent – there is no valid cause for removing Governor Cook,” Lowell said in a statement. “As we did before, we will challenge this latest pretext and preserve her position and the historic role of the Fed.” The White House did not immediately respond to a request for comment. Cook was appointed by Joe Biden in 2022 to a 14-year term that will end in 2038. She is the first Black woman to serve as a Fed governor. Before she joined the Fed, she served on Barack Obama’s council of economic advisers and has taught at Harvard University and Stanford University. Trump first abruptly fired Cook last August in an unprecedented attack on the central bank’s independence. The White House accused her of wrongly designating two separate properties in Georgia and Michigan as her primary residence and failing to report rental income on her Atlanta property for two years. Cook denied the allegations and sued the Trump administration for firing her without cause or proper procedure. Cook and her legal team have maintained that the claims of mortgage fraud are based on “inadvertent” paperwork errors and that the administration is “cherrypicking” facts. Cook’s firing and ongoing legal battles also coincided with Trump’s attacks on the Fed for not lowering rates. Cook, along with then Fed chair, Jerome Powell, had backed the central bank’s decision not to lower rates, which drew the ire of the White House. Trump called Powell “too stupid and too political” and launched a justice department investigation into his renovations of the Fed’s headquarters in Washington, which has since been dropped. The Fed is now under the leadership of Kevin Warsh, a Trump pick who had previously shown favor towards cutting rates. Warsh has maintained that he will make decisions based on economic data, not the will of the president, and has made it his mission to fight the country’s heightened inflation, which typically is addressed by rate hikes. “We’re an independent central bank,” he said in response to questioning from Democratic House members at a hearing in July. “We’re honored to be independent.”

Supported by Trump Restarts Battle to Fire Sitting Fed Governor The Trump administration, rebuffed by the Supreme Court in its first attempt to fire Lisa D. Cook, sent the Federal Reserve governor a letter saying it was “considering” removing her from the job. President Trump opened a new front in his battle with Lisa D. Cook, the Federal Reserve official he tried — and failed — to oust from her position last year. In a letter sent on Wednesday, the White House informed Ms. Cook, who serves on the Board of Governors, that it was “considering” removing her from her position. The letter, which was signed by Dan Scavino, the White House deputy chief of staff, gave Ms. Cook 21 days to respond to previous allegations that she had committed mortgage fraud. Ms. Cook has not been charged with a crime, even though it has been a year since the administration first made the claims, nor has she been convicted of any wrongdoing. The escalation comes after Mr. Trump suffered a significant legal setback in June when the Supreme Court ruled 5-4 that Ms. Cook, whom Mr. Trump tried to fire last August, should have been given the formal ability to contest the accusations against her. In siding with the lower court, the Supreme Court granted Ms. Cook the ability to continue serving out her term, which is set to end 2038. But the Supreme Court left much unresolved, providing an opportunity for Mr. Trump to revive his attacks. The justices did not clearly articulate the full legal criteria that would allow Mr. Trump to fire Ms. Cook. The Federal Reserve Act stipulates the president can remove a sitting Fed official only “for cause,” which has long been interpreted to mean gross negligence or a dereliction of duty. The justices in June also did not offer an opinion on the exact allegations against her, which revolve around her taking out mortgages on a range of properties that were all listed as a primary residence. Ms. Cook has in the past suggested that these were clerical errors. “These allegations are as baseless now as they were a year ago when President Trump tried to remove Governor Cook and interfere with the independence of the Federal Reserve,” Abbe Lowell and Norm Eisen, Ms. Cook’s lawyers, said in a statement. “No matter what President Trump tries to do next, this much is clear under the facts and Supreme Court precedent — there is no valid cause for removing Governor Cook. As we did before, we will challenge this latest pretext and preserve her position and the historic role of the Fed.” In the letter, which was earlier reported by ABC News, Mr. Scavino said the Fed governor’s actions “may be sufficient to demonstrate that you committed a crime, as you appear to have acquired mortgages that do not meet certain lending requirements and could have received favorable loan terms under fraudulent circumstances.” Related Content Advertisement

Democracy Dies in Darkness By Andrew Ackerman President Donald Trump is restarting his effort to remove Lisa Cook from the Federal Reserve Board, about a month after he was blocked from doing so by the Supreme Court. In a letter to Cook this week, the White House said the president was considering firing her from her position over unproven allegations that she engaged in mortgage fraud, reviving efforts that began last summer. It gave Cook 21 days to respond and directed her to submit any evidence or argument to the White House by Aug. 26. What readers are saying The comments express strong criticism of President Donald Trump, focusing on his attempts to fire Fed Governor Lisa Cook, which many attribute to racism and sexism. Commenters highlight Trump's alleged history of fraud and his disregard for the Constitution and Supreme Court... Show more This summary is AI-generated. AI can make mistakes and this summary is not a replacement for reading the comments. Comments 476 Related Articles ColumnBethany McLean Is the Federal Reserve truly independent? December 27, 2025 ColumnBethany McLean The other effort to control the Fed January 15, 2026 Andrew Ackerman How Trump’s attacks on the Fed backfired, frustrating his plans to reshape it April 30, 2026 Andrew Ackerman Why the Fed strategically absorbed some blows from Trump December 23, 2025 Andrew Ackerman Rate cut underscores limits of Trump’s influence on Fed independence, for now September 18, 2025 * Andrew Ackerman Political turbulence engulfs the Fed as Trump pushes to assert control September 14, 2025 View 3 more storiesView 3 more stories !pixel

Trump Resumes Efforts to Remove Lisa Cook from the U.S. Federal Reserve Board Former U.S. President Donald Trump has revived his attack on Lisa Cook, signaling a possible removal from the Federal Reserve Board even after the U.S. Supreme Court last June blocked his previous bid to oust her. The White House sent this week a letter to Cook stating that he is "studying" her removal, according to two people familiar with the correspondence, reported by the Financial Times. The new bid to oust the Fed governor comes after the Supreme Court ruled in June that Cook could remain in her position, while the administration continues its legal efforts to remove her in lower courts. According to CNBC, White House aide Dan Scavino, in a letter to Cook on Wednesday, said there is "reasonable cause to believe you made false statements in one or more of the mortgage agreements." Trump had previously sought to dismiss Cook in August amid allegations related to mortgage fraud, after Housing and Urban Development Secretary Ben Carson (note: original references may imply Ben Carson) submitted documents that appeared to show Cook claimed the status of "primary residence" for two properties at the same time. In this context, Cook attorney Abi Lowell said, "These allegations have no basis now, just as they did a year ago when President Trump tried to remove Governor Cook and interfere with the independence of the Federal Reserve." ABC was the first to disclose the letter addressed to Cook. Follow our latest local, sports, political and economic updates on Google News.

Banks The White House gives Lisa Cook until August 26 to respond to allegations of real estate fraud Trump renews efforts to remove Lisa Cook from the Federal Reserve Reading time - 4 minutes Published: August 7, 2026 18:53 Last updated: August 7, 2026 18:54 The success of the maneuver could allow Trump to appoint members who support lowering interest rates Cook's attorney confirms an appeal of the attempt to remove her and denies a compelling reason for her dismissal !Lisa Cook, member of the Board of Governors of the American Federal Reserve - Bloomberg Lisa Cook, member of the Board of Governors of the American Federal Reserve - Bloomberg Source: Bloomberg President Donald Trump renewed his threat to fire Lisa Cook, a member of the Federal Reserve Board of Governors, over unproven allegations of real estate fraud, according to a Bloomberg–reviewed letter, a step that could renew a legal fight over the central bank's independence. Cook was told, in a Wednesday-dated letter, that Trump is considering removing her, and she was given until August 26 to respond to the allegations raised by the White House. Lisa Cook warns of persistent American inflation and hints at raising interest rates "A chance to respond" The Supreme Court, in a 5-4 decision in June, allowed Cook to remain in her position while she challenged Trump’s attempt to oust her over the real estate fraud allegations, noting that the president did not inform her or give her a chance to be heard before attempting to remove her. The letter, signed by White House Director of Human Resources Dan Scavino, upheld that ruling, stating: "This is your chance to respond." ABC News had earlier reported the new attempt to oust Cook. The Supreme Court shows reluctance toward Trump’s attempt to remove Lisa Cook from the Fed "No legitimate reason for removal" Cook’s attorney, Abby Lowell, stated that her legal team would continue to challenge the attempt to fire her. Lowell said in the statement: "These allegations have no basis now, just as they did a year ago when President Trump tried to oust Fed Governor Cook and interfere with the Fed’s independence." He added: "Regardless of what Mr. Trump does next, one thing remains clear: there is no legitimate reason to remove Fed Governor Cook. As we have done before, we will challenge this latest pretext and preserve her position and the Federal Reserve’s historic role." Supreme Court refuses to allow Trump to fire Lisa Cook from the Fed Shortly after the Supreme Court ruling, Trump said he would try again to remove Cook from her post. Since then, the president and his allies have sought ways to remove other Federal Reserve Board members, aiming to appoint new members more favorable to Trump’s push to lower interest rates. Trump accuses Cook of "gross negligence" The three-page letter is an attempt to restart the process of firing Cook. It accuses her of "gross negligence" in connection with the real estate fraud allegations, which have not been tested in court. The letter states: "Even if your conduct does not rise to the level of criminal, it appears to show a degree of gross negligence in financial transactions that calls into question your competence and fitness to trust as a financial regulator." President Joe Biden had appointed Cook in 2022 to a term ending in 2038. Allegations of Trump administration The administration accuses Cook of fraudulently registering two homes in Michigan and Georgia as each being a "primary residence" to obtain more favorable loan terms when she secured mortgage financing in 2021. Cook has previously said the allegations are baseless and rely on "selected and incomplete excerpts" from documents. The veracity of the allegations was not presented to the Supreme Court, and Cook has not been charged with any violations. Close observers of the Federal Reserve warn that success in removing Cook could open the door for the White House to seek to remove other board members as well, allowing the president to nominate replacements who support his calls to lower interest rates. Categories Donald Trump, U.S. Federal Reserve, Interest rates, Kevin Warsh Stories you may be interested in Banks: Lisa Cook under criminal investigation by the U.S. Department of Justice Banks: Lisa Cook sues Trump over attempt to remove her from the Federal Reserve Economy: Lisa Cook’s removal will not lower interest rates Economy: Lisa Cook confronts Trump’s bullying and insists on her position at the Fed Most read Markets Is gold preparing for a new surge? Markets Sale of Washington to the euro to support the yen shocks the European Central Bank Economy Arab Investment acquires 15% of the international Acdital arm Technology OpenAI’s first device about the size of a hockey puck... what it is and its price Politics Trump seeks to restrict obtaining citizenship at birth via two executive orders

The administration of President Donald Trump is moving ahead with its efforts to dismiss Federal Reserve Board member Lisa Cook, two months after the Supreme Court allowed her to keep her seat, while she battles a legal fight against the president’s attempts to remove her over allegations related to fraud in mortgage loans, which Cook has denied. In a decision issued in June by a 5-4 vote, the Supreme Court justices said Cook, whom President Joe Biden nominated to the Federal Reserve Board, can remain in her post at least for the duration of the case challenging the decision to remove her. Trump’s administration is appealing a lower-court ruling in Cook’s favor. Chief Justice John Roberts wrote that nothing prevents the president from trying again to remove Cook, provided proper notice procedures are followed and she has a chance to challenge the decision. Trump, after the ruling, said he would indeed do so, promising to take the appropriate action immediately. In a letter obtained by The Associated Press this week, White House aide Dan Scavino told Lisa Cook that Trump is “considering removing her from office,” but noted that the Supreme Court requires proper notice procedures and gave her until August 26 to object to the decision.