Trump Forms Committee to Investigate Lisa Cook Over Mortgages

President Donald Trump established a three-member committee of inquiry on October 9, 2026, to investigate allegations that Federal Reserve Governor Lisa Cook made false statements in mortgage applications. The White House announced the move as Trump continues his effort to remove Cook from the central bank's governing board, despite a Supreme Court ruling that allowed her to remain in office. According to a presidential memorandum published by the White House, the investigation concerns alleged false statements connected to one or more mortgage instruments.

The committee consists of three executive branch officials, with no independent outside members identified in the announcement. The memorandum also schedules a White House hearing for November 5, when Cook is required to attend and answer questions from the committee. Cook has denied wrongdoing and has not been charged with a crime, according to The Associated Press report published by WRAL.

Kevin Hassett, a senior economic adviser to Trump, will serve on the committee alongside Keith Sonderling, acting head of the Office of Government Ethics, and Andrea Lucas, chair of the Equal Employment Opportunity Commission. The White House memorandum identifying the members was dated Wednesday and was announced publicly on Friday.

The inquiry marks another step in Trump's campaign to remove Cook, who was nominated to the Federal Reserve by former President Joe Biden. The president has repeatedly pushed the central bank to lower interest rates and has criticized its leadership over monetary policy decisions. Cook's position has also become part of a broader dispute over the Federal Reserve's independence and leadership. The latest investigation comes as the central bank faces pressure from Trump over interest-rate policy, according to CNN's October 9 report.

In June 2026, the Supreme Court ruled that Cook could remain in her position after Trump attempted to dismiss her the previous year. The court determined that she should have received notice of the allegations and an opportunity to respond before being removed. The ruling did not resolve the underlying mortgage allegations, leaving the administration to pursue the matter through the newly established inquiry. The scheduled November 5 hearing will give the committee an opportunity to question Cook directly.

The Federal Reserve and Cook's attorney did not immediately respond to requests for comment from CNBC about the presidential memorandum, according to the outlet's October 9 report.