Fed Governor Faces Unprecedented Dismissal Attempt Amid Fraud Allegations

Federal Reserve Governor Lisa Cook faces historic removal attempts amid mortgage fraud allegations from a Trump administration official. Accusations center on property residence declarations, which Cook's lawyers argue lack fraudulent intent. The Supreme Court allows Cook to maintain her position while the case proceeds.

In an unprecedented move, President Donald Trump seeks to remove Federal Reserve Governor Lisa Cook amid allegations of mortgage fraud, marking the first such attempt in the central bank's 112-year history.

Cook, who ascended to her position as the first Black woman on the Fed's board, fights back, with the Supreme Court upholding her right to remain while her legal battle unfolds. The accusations focus on her claims for primary residence status on multiple properties.

Cook's attorney denies fraud, citing honest disclosures. The charges are rooted in accusations by Trump official Bill Pulte, with implications for other prominent Democrats like Letitia James and Adam Schiff.

(With inputs from agencies.)