President Trump says he is removing Lisa Cook from Federal Reserve board

President Donald Trump on Monday night escalated his conflict with Federal Reserve Governor Lisa Cook by removing her from the Fed's board.

The move comes after Trump urged the governor to resign her post last week over allegations that she may have committed mortgage fraud before she took her place on the Federal Reserve Board. Cook declined Trump's call to resign.

Federal Housing Finance Agency Director William Pulte notified Attorney General Pam Bondi earlier this month that Cook allegedly “falsified bank documents and property records to acquire more favorable loan terms, potentially committing mortgage fraud."