Fed's Lisa Cook pushes back on Trump firing threat, says she 'never committed mortgage fraud'

August 27, 2026 / 11:40 AM EDT / CBS News

Fed's Lisa Cook pushes back on Trump firing threat, says she 'never committed mortgage fraud'

TL;DR

  • Federal Reserve Governor Lisa Cook denies committing mortgage fraud, according to a letter from her lawyer.
  • The allegations are part of former President Trump's effort to remove Cook from her position on the Fed's Board of Governors.
  • Cook's lawyer argues that the claims are unfounded and that any error on mortgage documents was an "inadvertent oversight" made before she took office.
  • The Supreme Court previously allowed Cook to continue serving while her case challenging her removal proceeds.
  • The White House claims Cook misrepresented her primary residence on mortgage documents and failed to disclose rental income.