Legal Action

Lisa Cook, Governor of the Federal Reserve Board, brings this action challenging President Trump’s August 25, 2025 announcement purporting to remove her from office, following an earlier demand for her resignation based on unsubstantiated mortgage-related allegations. Plaintiff asserts that the removal is unlawful because the Federal Reserve Act permits removal of a Governor only for cause and requires notice and a hearing, and that the President’s action violates her rights under the Fifth Amendment’s Due Process Clause. Plaintiff seeks declaratory and injunctive relief confirming her continued tenure and preserving the statutory independence of the Federal Reserve Board.