Overview
- A White House letter dated Aug. 5 gave Lisa Cook 21 days to respond to allegations and set a deadline of Aug. 26 for her written reply to the administration.
- The notice relies on mortgage-fraud allegations first raised in an August 2025 FHFA criminal referral by Bill Pulte that accuse Cook of listing two different homes as her primary residence.
- The Supreme Court on June 29 said Cook must receive notice and a chance to respond before any removal but did not resolve whether the underlying allegations meet the statutory “for cause” standard.
- Cook and her lawyers deny the claims and say they will promptly challenge any renewed removal, making immediate litigation likely if the White House proceeds after Aug. 26.
- The dispute tests the Fed’s structural independence because governors serve long, staggered terms and face statutory protections that require courts to judge whether alleged misconduct justifies removal.