President Trump on Friday announced the creation of a three-person committee to investigate allegations of mortgage fraud against Federal Reserve Governor Lisa Cook. The move follows a Supreme Court decision in June that allowed Cook to remain in office while she challenges her attempted removal, with arguments in that case now scheduled for January 2026.
The allegations stem from a 2021 mortgage application in which Cook listed two different homes as her primary residence. Cook has strongly contested the claims, and her attorney, Abbe Lowell, told Trump in August that the allegations were "unfounded and untrue." The White House had given Cook 21 days to respond before forming the committee.
The panel consists of Kevin Hassett, Andrea Lucas, and Keith Sonderling. It will hold a private hearing at the White House on Nov. 5, where Cook may present arguments and evidence. The committee is then expected to submit written findings and a recommendation on whether Cook should be removed from the Federal Reserve Board.