Trump Forms Committee to Investigate Fed Governor Lisa Cook Over Mortgage Allegations

<p>President Donald Trump has established a committee to investigate Federal Reserve Governor Lisa Cook regarding allegations of false statements on mortgage documents. These accusations have been cited by Trump for over a year in efforts to remove her from office.</p><p>Trump attempted to remove Cook in August 2025, which led to a legal battle that concluded with the Supreme Court blocking her dismissal in June 2026. The court ruled in a 5-4 decision that Cook had not been given sufficient time to respond to the allegations.</p><p>The newly-formed committee is intended to provide Cook with an opportunity to advocate for herself. She will be allowed to submit a written statement prior to her first scheduled hearing on November 5, 2026.</p><p>Cook's statement must be submitted to the committee at least three days before the hearing, which will take place at the White House and last no more than four hours, according to a notice released by the Trump administration on October 7, 2026.</p><p>During the hearing, Cook will have the chance to present arguments, written evidence, and witness statements regarding the allegations. Lawyers from the Department of Justice will question her during the proceedings.</p><p>The hearing will not be open to the public but will be transcribed.</p><p>Three White House staffers, including National Economic Council director Kevin Hassett, will serve on the committee. Hassett was previously considered by Trump to replace Jerome Powell as Fed Chair before Trump ultimately chose Kevin Warsh.</p><p>The White House anticipates that Cook will submit another written statement following the hearing, after which the committee will recommend to Trump whether there is sufficient cause to remove her from her position.</p><p>The White House revisited its efforts to terminate Cook in August, sending her a letter indicating that Trump was once again considering her removal. Cook was given 21 days to respond, and her attorneys submitted a letter on August 26 denying the allegations of mortgage fraud.</p><p>The White House has alleged that Cook claimed homes in Atlanta and Michigan as her primary residence on separate mortgage agreements and subsequently rented out the Atlanta property. Cook's attorney stated that the designation of the Atlanta property was an inadvertent mistake, asserting that she sought financing for it as a vacation home while consistently identifying Michigan as her primary or permanent residence.</p>