Brief

Trump forms committee to investigate Fed Governor Lisa Cook’s mortgage filings

The White House said the panel will hold a non‑public hearing and report whether there is cause to remove Cook.

By Felo News Desk · Published Sun, 11 Oct 2026 18:23:37 GMT

President Donald Trump signed a memorandum on Oct. 9 establishing a three‑member committee to investigate allegations that Federal Reserve Governor Lisa Cook made false statements on mortgage documents, CBS News reported.

What happened

The memorandum, dated Wednesday, names the assistant to the president for economic policy, the chair of the Equal Employment Opportunity Commission and the head of the Office of Government Ethics as committee members. The panel is scheduled to hold an in‑person hearing at the White House on Nov. 5. The hearing will not be public, but a transcript will be produced. Cook may submit a written position statement and appear at the hearing, according to the memo.

What the reports add

CBS noted that Cook’s attorneys, Abbe Lowell and Norm Eisen, said she "welcomes the opportunity to present the facts" and expressed doubt the process will be legitimate, given the president’s repeated statements that he intends to fire her regardless of evidence. The article also references the Supreme Court’s June ruling that Cook can remain on the board while her legal challenge proceeds, and recalls that Trump first tried to remove her last year after a senior administration official, Bill Pulte, alleged false mortgage statements.

What was said

Lowell and Eisen told CBS, "We have grave doubts that this 'hearing' is a legitimate one that would conform to the law," and added that an objective outcome would likely find no cause for removal. The White House memo states, "Governor Cook may present argument, written evidence, and written witness statements regarding the evidence and allegations."

How it came about

The controversy stems from Bill Pulte’s claim that Cook falsified mortgage information on two properties before joining the Fed. Cook challenged the removal effort, arguing it violated the law that permits a president to remove a board member only "for cause." The Supreme Court’s June decision allowed her to stay while the challenge proceeds. This latest step aims to create a record that could support a future removal, according to the memorandum.

Key facts

President Trump created a three‑member committee to investigate Fed Governor Lisa Cook (cbsnews.com)
The committee will hold a non‑public hearing on Nov. 5 at the White House (cbsnews.com)
Cook can submit a written position and appear at the hearing (cbsnews.com)
Cook’s lawyers say they doubt the hearing’s legitimacy (cbsnews.com)
The Supreme Court ruled in June that Cook may remain on the Fed board while her legal challenge proceeds (cbsnews.com)

Timeline

2026-06-01 — Supreme Court ruled Cook could stay on the Fed board while her legal challenge continued
2025-09-15 — Bill Pulte alleged Cook made false mortgage statements
2026-10-09 — Trump signed memorandum creating committee to investigate Cook