Trump sets up committee to investigate Fed Governor Lisa Cook over mortgage fraud allegations
President Donald Trump has set up a committee to investigate Federal Reserve Governor Lisa Cook over allegations she made false statements on mortgage documents, the same accusations Trump has cited for over a year in a bid to remove her from office.Trump attempted to remove Cook in August 2025, triggering a lengthy legal battle that culminated in the Supreme Court blocking her firing in June 2026.In a 5-4 ruling, the court ruled she had not been given adequate time to respond to the allegations against her.This newly-formed committee appears to be the process the White House has settled on to give Cook a chance to advocate for herself, as she will be allowed to submit a written statement ahead of her first scheduled hearing on Nov.
5, 2026.Federal Reserve Board Governor Lisa Cook participates in a board meeting at the Federal Reserve on March 19, 2026 in Washington, D.C.(Kevin Dietsch/Getty Images)WHO IS LISA COOK? THE CENTRAL BANK GOVERNOR AT THE HEART OF THE SUPREME COURT’S TRUMP-FED SHOWDOWNHer statement must be received by the committee at least three days ahead of the hearing, which will unfold at the White House and will last no more than four hours, according to a notice dated Wednesday, Oct.
7, 2026, but released on Friday by the Trump administration.At the hearing itself, Cook will be able to "present argument, written evidence, and written witness statements regarding the evidence and allegations," the White House said.In turn, lawyers with the Department of Justice will question her.The hearing will be closed to the public but will be transcribed.U.S.
President Donald Trump gestures after speaking to the media as he departs the White House on Oct.1, 2026 in Washington, D.C.
(Win McNamee/Getty Images)EXPLAINED: HOW LISA COOK’S THREE HOME LOANS BECAME CENTRAL TO TRUMP’S FIGHT OVER HER FEDERAL RESERVE SEATThree White House staffers, including National Economic Council director Kevin Hassett, will serve as members of the committee.Hassett was one ...