President Donald Trump announced that he is removing Lisa Cook, a Federal Reserve Board Governor, from her position.

In the letter addressed to Cook that was posted on social media Monday night, Trump said there was "sufficient evidence" that Cook made false statements in mortgage agreements in a referral made by Trump's Federal Housing Finance Agency to the Department of Justice to remove her from her role.

"At a minimum, the conduct at issue exhibits the sort of gross negligence in financial transactions that calls into question your competence and trustworthiness as a financial regulator," the letter said.

"I have determined that faithfully executing the law requires your immediate removal from office," Trump closed the letter.

ABC News has reached out to the Federal Reserve for comment.

This is a developing story. Please check back for updates.