Trump moves to fire Fed's Lisa Cook again after Supreme Court ruling

President Trump is making a renewed effort to remove Lisa Cook from her position on the Federal Reserve Board of Governors, citing allegations of mortgage fraud. The White House has formally notified Cook that Trump is considering her dismissal, a move that follows a Supreme Court decision earlier this year.

In June, the Supreme Court blocked Trump's initial attempt to fire Cook, ruling 5-4 that the president had failed to provide her with the necessary procedural protections, specifically notice and an opportunity to respond to the accusations. Following this decision, Trump stated his administration would "take appropriate action" to remove her.

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Pursuant to the Supreme Court's opinion from June 29, 2026, you are hereby provided notice that the President is considering removing you from your position on the Board of Governors of the Federal Reserve due to there being sufficient reason to believe that you made false statements on one or more mortgage agreements.

The White House now appears to be addressing the procedural issues raised by the court. A letter dated August 5, obtained by CBS News, was sent by White House deputy chief of staff Dan Scavino. It details the allegations against Cook and gives her until August 26 to respond. The letter states that the President is considering removal "due to there being sufficient reason to believe that you made false statements on one or more mortgage agreements."

The allegations against Cook originated from Bill Pulte, a former Trump administration housing official, who submitted a criminal referral to the Justice Department. Pulte claimed Cook made misrepresentations on mortgage filings for two properties before she was nominated to the Fed by President Joe Biden in 2021. Cook has denied any wrongdoing and has not been charged with a crime. Scavino's letter asserts that these alleged actions "may be sufficient to demonstrate that you committed a crime" and reflect on her "honesty, trustworthiness, and competence."

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There is a distinct nexus between a basic level of trustworthiness and care in financial matters and the duties of a Member of the Board of Governors. Because the allegations in the Criminal Referral reflect on your honesty, trustworthiness, and competence to perform the duties of the office you currently hold, the President has determined that there is reason to believe they constitute cause to remove you from your position on the Board of Governors of the Federal Reserve.