An attorney for Federal Reserve Governor Lisa Cook will file a lawsuit challenging President Donald Trump's attempt to remove her from the Board of Governors. Trump posted a letter on Truth Social stating that Cook was removed effective immediately and alleging removal for cause tied to mortgage fraud accusations. The administration alleges Cook may have falsified records to obtain favorable mortgage terms. Cook denies wrongdoing, has not been charged, and is gathering accurate information about her financial history. The attorney stated Trump lacks authority to remove a governor and called the action legally baseless. The referral originated from FHFA chief Bill Pulte via social media.
An attorney for Federal Reserve Governor Lisa Cook will file a lawsuit against President Donald Trump after she rejected his move to fire her over allegations of mortgage fraud, according to reports. President Trump has no authority to remove Federal Reserve Governor Lisa Cook, an attorney for Cook said in a statement to CNN. His attempt to fire her, based solely on a referral letter, lacks any factual or legal basis. We will be filing a lawsuit challenging this illegal action.
On Monday, Trump penned a letter to Cook that he posted on Truth Social, informing her that you are hereby removed from your position on the Board of Governors of the Federal Reserve, effective immediately. The president claimed that he was removing Cook for cause. The Trump administration alleges that Cook may have falsified records to receive more favorable terms on a mortgage. Cook, who is the first Black woman to serve on the Board of Governors, has not been charged with a crime.
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