What being fired ‘for cause’ means
California law gives parties in an employment relationship substantial freedom to define for themselves what cause means.
Late last month, President Donald Trump sent Federal Reserve Governor Lisa Cook a letter firing her. The Federal Reserve Act (FRA) establishing the Board of Governors says: “Each member shall hold office for a term of 14 years from the expiration of the term of his predecessor, unless sooner removed for cause by the president.” The FRA does not define “cause.” The president cited Cook’s alleged misstatements about her primary residence on mortgage application(s) as “cause” for his action.
Click here to read the full article written by SCMV Shareholder Dan Eaton and published in The San Diego Union-Tribune.