Trump establishes committee to investigate Fed Governor Lisa Cook

Summarised from 6 outlets · Updated 9 Oct, 16:55 · Archive

President Trump has announced a committee to investigate allegations that Federal Reserve Governor Lisa Cook made false statements on mortgage documents.

President Trump announced Friday that he is establishing a committee to investigate Federal Reserve Governor Lisa Cook over allegations that she made false statements in connection with mortgage instruments. This marks the latest escalation in Trump's repeated efforts to remove Cook from the central bank after the Supreme Court blocked his initial attempt to fire her in June.

The committee comprises three executive branch officials: Kevin Hassett, Trump's assistant for economic policy and a chief defender of the administration's economic record; Keith Sonderling, acting head of the Office of Government Ethics; and Andrea Lucas, chair of the Equal Employment Opportunity Commission. No outside or independent arbiters are included in the committee's composition.

According to a presidential memorandum dated Wednesday and shared on the White House website Friday, the committee will investigate whether Cook made 'false statements in connection with one or more mortgage instruments'. The committee will then report to Trump whether there is 'cause' for her removal from the Federal Reserve Board. Trump stated in his announcement: 'As President, it is my job to ensure the laws are faithfully executed, including by firing subordinates who cannot be trusted to tell the truth and follow the law.'

The White House has scheduled an in-person hearing on 5 November to consider the evidence and allegations against Cook. The hearing will not be open to the public, but will be transcribed and published. Cook will have the opportunity to submit a written position statement and to appear at the proceeding to present argument, written evidence and written witness statements in response to the accusations.

Cook's legal team expressed concerns about the legitimacy of the process. Her attorneys Abbe Lowell and Norm Eisen stated they have 'grave doubts that this 'hearing' is a legitimate one that would conform to the law', citing Trump's 'repeated statements that he has already decided to fire Governor Cook — regardless of the facts and evidence'. However, they added that 'if it is anything close to objective, the conclusion will be that Governor Cook did not commit mortgage fraud, leaving no cause to remove her'. The attorneys noted they have engaged with the White House to evaluate whether the proposed process could be genuine.

Cook has denied any wrongdoing and has not been charged with or convicted of any crime. According to the Guardian, Cook's legal team maintains that the White House is 'cherrypicking' facts and that any claims of fraud are based on unrelated clerical errors. The allegations against Cook relate to her listing two properties in Georgia and Michigan as her primary residence and failing to report rental income on her Atlanta property.

This action follows Trump's failed attempt in August 2025 to fire Cook after he said she committed mortgage fraud. Cook immediately sued the Trump administration, and the Supreme Court reinstated her in a 5-4 ruling in June, allowing her to remain on the Federal Reserve Board whilst fighting the allegations. Trump described that Supreme Court decision as being 'sent back...on a strictly procedural basis'.

How it is being reported

• Trump creates committee to investigate Fed's Lisa CookPresident Trump established a committee to look into allegations that Fed Governor Lisa Cook made false statements on mortgage documents, the latest step in his renewed effort to fire her.CBS News · 9 Oct, 16:39
• Trump establishes committee to investigate Fed governor Lisa CookUS president renews his efforts to oust Cook despite supreme court ruling that her firing was unconstitutional Donald Trump announced on Friday that he is establishing a committee to investigate Lisa Cook, the US Federal Reserve governor, over allegations that she committed mortgage fraud, renewing his efforts to oust her despite a June supreme court ruling that her earlier firing was unconstitutional. Trump said a committee will consult with justice department officials to decide whether there is “cause” for her removal. The White House will hold an in-person hearing on 5 November to…Guardian World · 9 Oct, 16:39
• Trump finds newest way to go after Lisa Cook with investigative ‘committee’ despite Supreme Court rulingFed governor’s attorneys have ‘grave doubts’ about legitimacy of White House investigationIndependent World · 9 Oct, 16:30
• Trump establishes committee to investigate Fed Governor Lisa Cook’s mortgage fraud statementsPresident Trump has created a “committee of inquiry” to investigate allegations that Federal Reserve Governor Lisa Cook made false statements after the White House accused her of mortgage fraud.New York Post · 9 Oct, 15:30
• Trump appoints committee to investigate statements by the Fed's Lisa CookTrump tried to fire Cook, a nominee of former President Joe Biden, but the Supreme Court blocked his first attempt.CNBC · 9 Oct, 15:11
• Donald Trump launches committee to investigate Fed governor Lisa CookMove comes after the Supreme Court in June rebuffed the president’s attempt to sack the central bankerFinancial Times · 9 Oct, 15:10

In this story: Donald Trump · Lisa Cook · Federal Reserve · Supreme Court · Joe Biden · Kevin Hassett · White House

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