Trump sets up committee to investigate Fed Governor Lisa Cook over mortgage fraud allegations

President Donald Trump has created a White House committee to examine claims that Federal Reserve Governor Lisa Cook made false statements on mortgage paperwork. Those are the same allegations he has relied on for more than a year in trying to push her out. The panel appears to be the administration's way of offering Cook the opportunity to answer the charges after the Supreme Court halted her dismissal in June 2026 by a 5-4 vote, finding she had not had enough time to respond. Trump first tried to remove her in August 2025, according to Fox News.

A notice dated October 7, 2026, and made public Friday, lays out the procedure. Cook must get a written statement to the committee at least three days before a hearing set for November 5, 2026. The session will be held at the White House, run no longer than four hours, and be transcribed, though the public cannot attend. She may offer argument, written evidence and written witness statements, and Justice Department lawyers will question her.

Three White House staffers sit on the committee, among them Kevin Hassett, who directs the National Economic Council and was once a leading candidate for Fed chair before Trump chose Kevin Warsh.

Summarized by PolitiKool from Fox News’s reporting. Read the full story at Fox News →