Lisa Cook will sue over Trump firing from Fed board, her lawyer says
Lisa Cook, governor of the US Federal Reserve, during a Fed Listens event in Washington, DC, US, on Friday, March 22, 2024.
Al Drago | Bloomberg | Getty Images
Federal Reserve Board Governor Lisa Cook will file a lawsuit challenging her removal by President Donald Trump, her attorney said Tuesday.
“President Trump has no authority to remove Federal Reserve Governor Lisa Cook,” the lawyer, Abbe Lowell, said in a statement, a day after Trump cited allegations of mortgage fraud by Cook in firing her.
“His attempt to fire her, based solely on a referral letter, lacks any factual or legal basis,” Lowell said.
“We will be filing a lawsuit challenging this illegal action.”
The White House and the Justice Department did not immediately respond to CNBC’s requests for comment on Lowell’s statement.
The Justice Department last week opened a criminal investigation of Cook after she was accused of making false statements on home mortgage applications by Federal Housing Finance Agency Bill Pulte.
Pulte pointed to documents that Cook allegedly signed for properties in Michigan and Georgia claiming they were each her primary residence, which he claimed was done “in order to potentially secure lower interest rates and more favorable loan terms.”
— CNBC’s Kevin Breuninger contributed to this story.
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