Trump forms committee to probe Fed Governor Lisa Cook over mortgage statements
President Donald Trump announced on Friday that a White House committee will investigate Federal Reserve Governor Lisa Cook for alleged false statements on mortgage documents, with a closed‑door hearing set for Nov. 5, 2026.
The move follows a June 2026 Supreme Court decision that stopped Trump’s earlier effort to remove Cook, ruling that the president had not given her sufficient time to respond to the allegations. The new panel gives Cook a chance to submit a written statement before the hearing.
National Economic Council director Kevin Hassett and two additional White House staffers will serve on the committee. Hassett was previously considered by Trump for the Fed chairmanship before the administration settled on Kevin Warsh.
According to the administration’s notice dated Oct. 7, Cook must provide her written statement at least three days before the hearing, which will be held at the White House and last no more than four hours. The hearing will be closed to the public but transcribed, and Department of Justice lawyers will question Cook.
The allegations center on Cook’s mortgage applications for homes in Atlanta, Georgia, and Michigan. The White House claims she listed both properties as her primary residence, later renting the Atlanta house. Cook’s attorney argues the Atlanta designation was an inadvertent mistake, describing the property as a vacation home while consistently identifying Michigan as her permanent residence.
Cook’s legal team responded to the August 2026 letter reviving the removal effort with a Aug. 26 letter denying any mortgage fraud. The letter cited the 21‑day response window granted to her, which she used to contest the accusations.
After the hearing, the committee will allow Cook to submit another written statement before making a recommendation to the president on whether there is sufficient cause to remove her from the Federal Reserve board.
The investigation underscores the ongoing political clash over the independence of the Federal Reserve and the president’s authority to dismiss its governors.
