25 h. ago Trump admin opens criminal mortgage fraud probe into Fed governor Lisa Cook

The US Justice Department has launched a criminal mortgage fraud probe into Federal Reserve Governor Lisa Cook and has issued grand jury subpoenas out of both Georgia and Michigan, according to documents seen by Reuters and a source familiar with the matter. The investigation, which followed a criminal referral from Federal Housing Finance Agency Director Bill Pulte, is being conducted by Ed Martin, who was tapped by Attorney General Pam Bondi as a special assistant US attorney to assist with...

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8 d. ago Trump sued by Fed Governor over removal, sparking independence fight

Federal Reserve Governor Lisa Cook filed a lawsuit on Thursday claiming US President Donald Trump has no power to remove her from office, setting up a legal battle that could reset long-established norms for the US central bank’s independence. Cook’s lawsuit said Trump violated a federal law allowing him to remove a Fed governor only “for cause” when the Republican president took the unprecedented step on August 25 of announcing he would fire her. Trump has accused Cook of committing mortgage...

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1 week ago US Fed governor Lisa Cook to sue Trump, saying he cannot legally fire her

US Federal Reserve Governor Lisa Cook’s lawyer said she will launch a court challenge against US President Donald Trump’s effort to fire her. A member of Trump’s administration filed a referral to the Justice Department over allegations involving mortgages Cook obtained in Georgia and Michigan. “President Trump has no authority to remove Federal Reserve Governor Lisa Cook,” lawyer Abbe Lowell said in a statement emailed to reporters. “His attempt to fire her, based solely on a referral letter,...

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1 week ago Fed governor will sue to keep her job as Trump mulls replacement

Federal Reserve Governor Lisa Cook will file a lawsuit to prevent US President Donald Trump from firing her, a lawyer for the embattled central bank official said on Tuesday, kicking off what could be a protracted legal fight over the White House’s effort to shape US monetary policy. “His attempt to fire her, based solely on a referral letter, lacks any factual or legal basis. We will be filing a lawsuit challenging this illegal action,” Cook’s lawyer, prominent Washington lawyer Abbe Lowell,...

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1 week ago Trump sacks Fed Governor Lisa Cook over mortgage fraud allegations

President Donald Trump moved to remove Federal Reserve Governor Lisa Cook from her post at the US central bank in the wake of allegations that she falsified documents on mortgage applications. “The American people must be able to have full confidence in the honesty of the members entrusted with setting policy and overseeing the Federal Reserve,” Trump said in a letter he posted to Truth Social. “In light of your deceitful and possibly criminal conduct in a financial matter, they cannot and I do...

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3 w. ago Trump mulls new tariffs, China builds space debris device: SCMP daily highlights

Catch up on some of SCMP’s biggest China stories of the day. If you would like to see more of our reporting, please consider subscribing. 1. Trump may hit China with punitive tariffs over purchases of Russian oil US Vice-President J.D. Vance said that President Donald Trump is “thinking” about slapping new tariffs on imports from China in response to the country’s purchases of Russian oil. 2. China condemns Israel’s Gaza City takeover plan, urges 2-state solution China has condemned Israel’s...

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