Trump mounts new effort to fire Fed's Lisa Cook after Supreme Court ruling

Updated on: August 7, 2026 / 3:06 PM EDT / CBS News Washington — The White House has informed Lisa Cook, a member of the Federal Reserve Board of Governors, that President Trump is considering firing her from her post because of allegations of mortgage fraud, according to a letter to Cook that was obtained by CBS News. The move comes after the Supreme Court in June blocked Mr. Trump from firing Cook while a legal challenge to her attempted removal last year moves forward. The high court said in its 5-4 decision that the president failed to afford Cook the procedural protections she was entitled to under the law, namely notice and the opportunity to respond to the accusations against her, before she was fired. Trump said in the wake of the decision that his administration would "take appropriate action" to fire Cook, and the White House now appears to be attempting to remedy the issues raised by the high court.

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Scoop News DeskWashington · Published Friday, August 7, 2026 at 7:06 PM UTCUpdated Friday, August 7, 2026 at 7:22 PM UTC

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26 deadline for her to provide a response to the claims. "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," he wrote. Cook has denied wrongdoing and she has not been charged with a crime.