Trump creates committee to probe allegations of mortgage fraud by Fed Governor Lisa Cook

October 9, 2026 / 11:39 AM EDT / CBS News

Washington — President Trump established a committee to look into allegations that Lisa Cook, a member of the Federal Reserve Board of Governors, made false statements on mortgage documents, the latest step in his renewed effort to fire Cook from her post with the central bank.

The president signed a memorandum, dated Wednesday, creating what he said is a "committee of inquiry" that will be made up of three members: the assistant to the president for economic policy, chair of the Equal Employment Opportunity Commission and head of the Office of Government Ethics.

After conducting its investigation into Cook, the committee will report to Mr. Trump whether there is "cause" to remove her from the Fed Board. The three-member panel will hold an in-person hearing at the White House on Nov. 5 to "consider the evidence and allegations" against Cook, according to the memorandum. The hearing will not be public, but will be transcribed, the White House said.

Cook has the opportunity to submit a "written position statement" to the committee in response to the accusations against her and can appear at the proceeding, the president's memorandum stated.

"Governor Cook…

Original source: https://www.cbsnews.com/entertainment/