"That effort took a major hit this week when a judge granted an injunction allowing Cook to remain in her post. U.S. District Judge Jia Cobb wrote in a ruling Tuesday that removal of a Federal Reserve Governor extends only to concerns about the Board member's ability to effectively and faithfully execute their statutory duties, in light of events that have occurred while they are in office."
"A loan estimate for an Atlanta home purchased by Lisa Cook, the Federal Reserve governor accused of mortgage fraud by the Trump administration, shows that Cook had declared the property as a vacation home, according to a document reviewed by Reuters. The document, dated May 28, 2021, was issued to Cook by her credit union in the weeks before she completed the purchase and shows that she had told the lender that the Atlanta property wouldn't be her primary residence."
President Donald Trump sought to remove Federal Reserve Governor Lisa Cook, accusing her of mortgage fraud to install a loyalist. That removal effort was halted when a judge granted an injunction allowing Cook to remain in her post. U.S. District Judge Jia Cobb ruled that removal of a Fed governor is limited to concerns about the member's ability to effectively and faithfully execute statutory duties in light of events occurring while in office. A loan estimate shows Cook declared an Atlanta property a vacation home and told the lender it would not be her primary residence, undermining the mortgage-fraud claims.
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