Trump Renews Effort to Remove Fed Governor Lisa Cook

President Donald Trump has renewed his effort to remove Federal Reserve Governor Lisa Cook, giving her until August 26, 2026, to respond to mortgage-fraud allegations. Her lawyer said the move will be challenged, and legal observers say it could reopen a test of central-bank independence.

White House Notice and Response

The White House informed Cook that the president is considering removing her from the Federal Reserve Board over alleged false statements on mortgage agreements. A letter dated Wednesday from presidential aide Dan Scavino set a three-week deadline for Cook to provide an explanation and any supporting evidence.

Allegations and Legal Stakes

The controversy stems from a criminal referral in August 2025 by Bill Pulte, director of the Federal Housing Finance Agency, accusing Cook of mortgage fraud related to two homes—one in Ann Arbor, Michigan, and one in Atlanta—each allegedly described as a primary residence. Cook has denied the allegations. Her lawyer, Abbe Lowell, said there is no valid cause for removal and that they will challenge the renewed effort in court.

In June 2026, the Supreme Court ruled 5-4 to allow Cook to remain in office while litigation continues. Chief Justice John Roberts wrote that nothing prevents a president from trying again if proper notice and an opportunity to respond are provided. The renewed White House notice sets up a fresh judicial test over whether an administration may remove a Fed governor for cause after meeting those procedural requirements. This raises significant questions about the limits of executive authority and the independence of the central bank.