Litigation

A panel of DC Circuit Court judges ruled late Monday that the president had not met the stringent statutory requirements to block a lower court injunction, which allowed Federal Reserve Gov. Lisa Cook to remain at her post as her lawsuit challenging her dismissal is litigated.

The Department of Justice argued that Federal Reserve Gov. Lisa Cook has not provided an explanation for her alleged primary residential claims on separate mortgage applications, but the motion made no mention of newly uncovered documentation that suggests Cook represented one of those mortgages as a vacation home in her application, undermining claims of fraud.

The Massachusetts bank is being accused of aiding and abetting the operation of a Ponzi scheme centered in Hamilton, New York. The bank declined to comment on the allegations.

The White House's appeal of a lower court injunction allowing Federal Reserve Gov. Lisa Cook to remain on the Fed board is urging the court to rule in its favor ahead of the Federal Open Market Committee meeting on Sept. 16 and 17.

The Consumer Financial Protection Bureau told its staff to expect an upcoming reduction in force because the agency's budget was cut in half by the president's recently passed tax and budget bill.

The White House has appealed a D.C. District Court ruling allowing Federal Reserve Gov. Lisa Cook to remain on the Fed board pending the outcome of her challenge to President Trump's moves to fire her.

The Justice Department has opened a criminal investigation into Federal Reserve Gov. Lisa Cook and allegations of mortgage fraud, allegations that spurred President Trump to terminate her position on the Fed Board last week. Cook is challenging the president's authority to remove her in court.

The American Fintech Council urged a federal court to deny requests by banking groups to stay the Consumer Financial Protection Bureau's open banking rule compliance dates while litigation is ongoing.

Federal Reserve Gov. Lisa Cook's lawsuit against President Trump is challenging his move to remove her from office because allegations against her do not constitute "cause." How courts weigh in could dictate the future of the central bank's independence from the White House.

Federal Reserve Gov. Lisa Cook filed a lawsuit in federal court Thursday morning seeking an injunction against President Trump's "illegal attempt" to remove her from the Fed board. The suit claims Trump has not demonstrated "cause" for her removal under the Fed statute.