Federal Reserve Governor Lisa Cook has denied mortgage fraud allegations made by President Donald Trump. A lawyer for Cook stated that she has never committed mortgage fraud or any intentional wrongdoing as she hits back at the accusations.
The Trump administration has doubled down on these accusations despite a Supreme Court ruling in Cook's favor. In late June, the Supreme Court blocked the president from firing Cook from the Federal Reserve's governing board, though it left a path for him to attempt her removal again.
Cook maintains that the administration has no legal basis to remove her. As President Trump considers renewing his efforts, the situation is likely to launch another contentious legal battle concerning the independence of the central bank.