Newly unearthed documents challenge the Trump administration's accusations that Federal Reserve Governor Lisa Cook committed mortgage fraud, Reuters reports.

Why It Matters

The dispute bears on two consequential issues: whether a federal housing regulator's referral to the Department of Justice (DOJ) was supported by documents that demonstrate criminal intent, and whether President Donald Trump lawfully can remove a Fed governor—an action that critics say threatens the Federal Reserve's independence amid political pressure to lower interest rates.

What To Know

A loan estimate for an Atlanta property purchased by Cook, first obtained by Reuters, shows that she told the lender she planned to use it as a "vacation home."

Trump administration officials, led by Federal Housing Finance Ag

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