The Trump administration has formally notified Federal Reserve Governor Lisa Cook that it is considering her removal from office. The administration’s letter, dated Wednesday, cites allegations of mortgage fraud as the basis for the potential termination. Cook has been granted a 21-day window to respond to these claims before a final decision is reached.

This action represents a renewed attempt by the White House to replace the Fed governor. A previous effort to remove Cook was halted by the Supreme Court earlier this year. In that instance, the Court ruled that the administration had failed to provide Cook with proper notice or an adequate opportunity to defend herself against the allegations. By issuing this new letter, the administration appears to be attempting to satisfy the procedural requirements mandated by the Court’s earlier decision.

There is a slight discrepancy regarding the timeline of the documentation. Axios reports the letter is dated Wednesday, while the Washington Examiner references an Aug. 5 letter. Both outlets agree that this represents an unprecedented challenge to the independence of a sitting Federal Reserve governor, as the central bank is traditionally insulated from direct presidential removal efforts. The administration maintains that the allegations of mortgage fraud provide sufficient cause for the potential firing, while the process is being closely watched for its implications on the Fed's institutional autonomy.