White House schedules hearing on allegations against Fed's Lisa Cook for December
Cook's lawyers say the committee, which is overseen by three of Trump's political appointees, lacks impartiality, given the president’s past threats and the actions and comments of the panel’s members.
The White House on Wednesday rescheduled a hearing with Lisa D. Cook, the Federal Reserve governor accused of mortgage fraud.
The White House notified Cook via a letter in August, which was obtained by Just the News, that the president was "considering" removing her from her role on the Federal Reserve Board of Governors. The letter demanded she respond within three weeks to allegations of making false statements on mortgage agreements.
Cook has denied the charges, and they have never been brought to court.
Last year, then-Federal Housing Finance Agency Director Bill Pulte filed a criminal referral against Cook to the Justice Department last year, claiming she committed mortgage fraud by allegedly listing a secondary residence as a primary residence, prompting President Donald Trump to try to fire her "for cause."
Lower courts ruled that the Federal Reserve Act’s “for cause” provision is best interpreted to cover actions conducted while on the board, and Cook cannot be removed for alleged crimes or actions committed before she took office.
The Supreme Court ruled in June that the administration had not shown it was likely to prevail on the merits of the case while Cook's termination moved through the appeals process.
The White House hearing is now scheduled for Dec. 14, the New York Times reported, citing an unnamed official.
Cook's lawyers have raised "significant concerns" about the panel Trump commissioned to investigate the allegations and report back if there are grounds to remove Cook. The lawyers say the committee, which is overseen by three of Trump's political appointees, lacks impartiality, given the president’s past threats and the actions and comments of the panel’s members.