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President Trump Issues Formal Notice to Remove Federal Reserve Governor Lisa Cook
Just the facts
White House Deputy Chief of Staff Dan Scavino sent a letter to Federal Reserve Governor Lisa Cook setting an August 26, 2026 deadline for her to respond to allegations of mortgage fraud involving properties in Michigan and Georgia. The formal notice follows a June 2026 decision by the U.S. Supreme Court, which ruled 5-4 that Cook could not be removed without being provided statutory notice and an opportunity to respond. Appointed by President Joe Biden in 2022 to a 14-year term ending in 2038, Cook is the first Black woman to serve on the Fed Board of Governors. Cook and her legal counsel have denied the mortgage fraud allegations and announced plans to legally challenge any removal attempt.
Why this is news
President Donald Trump issued a formal notice to Federal Reserve Board Governor Lisa Cook stating that his administration is considering removing her from office over allegations of mortgage fraud.
Sources
This summary is compiled strictly from the original reporting below.