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June 29, 2026

Supreme Court Affirms Lisa Cook's Position Amid Mortgage Fraud Allegations

  • The Supreme Court ruled 5-4 to uphold Federal Reserve Governor Lisa Cook's position, allowing her to remain on the board while her lawsuit against President Trump proceeds.
  • Cook is under investigation for alleged mortgage fraud related to three properties, which Trump cited as cause for her removal, though she has not been charged with any crime.
  • The ruling underscores that Fed board members can only be removed for cause, emphasizing the institution's independence from presidential influence.

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