Federal Reserve Board Governor Lisa Cook will file a lawsuit challenging her removal by President Donald Trump, her attorney said Tuesday.
“President Trump has no authority to remove Federal Reserve Governor Lisa Cook,” the lawyer, Abbe Lowell, said in a statement, a day after Trump cited allegations of mortgage fraud by Cook in firing her.
“His attempt to fire her, based solely on a referral letter, lacks any factual or legal basis,” Lowell said.
“We will be filing a lawsuit challenging this illegal action.”
The White House and the Justice Department did not immediately respond to CNBC’s requests for comment on Lowell’s statement.
— CNBC’s Kevin Breuninger contributed to this story.
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