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⚖️ The Trump administration has opened a new effort to remove Federal Reserve governor Lisa Cook, giving her 21 days to answer mortgage-fraud allegations before any final decision. Cook denies the allegations.
The move follows the Supreme Court’s June 29 ruling that blocked Trump’s first attempt to remove her while her lawsuit proceeds. The Court said she had not been given adequate notice and an opportunity to respond.
The new White House notice relies on the same claims involving Cook’s mortgage applications. Her lawyers, Abbe Lowell and Norm Eisen, called the allegations baseless and said they would challenge any renewed removal.
🏦 Cook remains a Federal Reserve Board member for now. The case tests the meaning of the law allowing removal of Fed governors only “for cause,” and its outcome could shape protections for the central bank’s independence.
Cook’s response is due August 26, 2026. Any subsequent removal decision is likely to face further court review as the underlying litigation continues.
https://nutanica.com/Lisa_Cook
The move follows the Supreme Court’s June 29 ruling that blocked Trump’s first attempt to remove her while her lawsuit proceeds. The Court said she had not been given adequate notice and an opportunity to respond.
The new White House notice relies on the same claims involving Cook’s mortgage applications. Her lawyers, Abbe Lowell and Norm Eisen, called the allegations baseless and said they would challenge any renewed removal.
🏦 Cook remains a Federal Reserve Board member for now. The case tests the meaning of the law allowing removal of Fed governors only “for cause,” and its outcome could shape protections for the central bank’s independence.
Cook’s response is due August 26, 2026. Any subsequent removal decision is likely to face further court review as the underlying litigation continues.
https://nutanica.com/Lisa_Cook
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