Lawsuit Filed Against President Trump Over Unauthorized Attempt to Fire Federal Reserve Governor Lisa Cook

Federal Reserve Governor Lisa Cook’s attorney, Abbe Lowell, declared on Tuesday that a lawsuit will be filed to contest President Donald Trump’s move to dismiss her, which occurred Monday evening.

In a statement sent to CNN, Lowell stated, “President Trump does not possess the authority to terminate Federal Reserve Governor Lisa Cook. This dismissal, based solely on a referral letter, lacks any substantiation or legal foundation. We will be filing a lawsuit contesting this unlawful action.”

The announcement follows Trump’s social media post Monday night, where he shared a letter addressed to Cook, stating that he had grounds to terminate her position.

Recently, Cook has faced criticism from Trump and members of his administration over allegations of mortgage fraud. However, she has yet to be formally accused of any wrongdoing.

In the letter to Cook, Trump wrote, “I have established that there is sufficient reason for your removal.”

“At a minimum, the actions involved demonstrate the kind of negligence in financial transactions that raises questions about your competence and credibility as a financial regulator,” Trump added in his correspondence.

This story is still developing and will be updated as more information becomes available.