The allegations center on what is known as mortgage occupancy fraud, or when a borrower says they plan to use a property as a primary residence, even though it is a second home or an investment. A Trump housing official claimed on social media that Cook designated two properties as her primary residences, in papers submitted 14 days apart.

Trump's attempt to oust the Fed's Governor is over accusations Cook made false statements on mortgage agreements. It's an accusation he's made before.

Lisa Cook made headlines three years ago when she became the first Black woman to serve on the Federal Reserve’s Board of Governors, one of the most powerful financial institutions in the world