Fed governor Lisa Cook: "No legitimate basis for removal" on Trump mortgage claims
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Add Axios on Google Federal Reserve governor Lisa Cook. Photo: Daniel Heuer/Bloomberg via Getty Images.
Lawyers for Federal Reserve governor Lisa Cook have submitted their case for why she cannot legally be fired, as President Trump seeks new avenues for dismissing the Biden appointee for cause.
The big picture: After the Supreme Court ruled against Trump's attempt to fire Cook last year over allegations that she claimed two different properties as her primary residence in mortgage documents, the White House has sought to introduce a more formal process in pursuit of the same goal.
Driving the news: Three weeks ago, the White House asked for her response to the substance of those allegations, which her lawyers submitted — and distributed to reporters — Wednesday evening.
Catch up quick: Trump announced that he was firing Cook about a year ago for cause, alleging mortgage fraud after housing finance regulator Bill Pulte showed she had mortgage applications for two separate properties as a primary residence in a short time frame.
What they're saying: "The process for seeking financing for the Atlanta condominium… began with Governor Cook using the lender's website to seek information about a 'vacation home' mortgage — a clear indication of the loan type she was looking to acquire," wrote Abbe David Lowell, Cook's attorney.
Of note: Lowell cites media reports of Trump himself and several cabinet members making dubious claims of a property's primary residence status, including Treasury Secretary Scott Bessent.
The other side: The White House did not immediately respond to a request for comment.
What's next: The question now is whether Trump again attempts to fire Cook, with more of a review process — and if so, how the courts respond.
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