Trump Creates White House Committee to Probe Fed Governor Lisa Cook Over Mortgage Allegations

WASHINGTON, Oct. 10 (TodayViralUSA) — President Donald Trump has established a White House “committee of inquiry” to investigate allegations that Federal Reserve Governor Lisa D. Cook made false statements on mortgage applications, the latest step in a yearlong effort to remove her from the central bank’s board.

In a memorandum dated Oct. 7 and published on the White House website, Trump directed a three-member panel — the assistant to the president for economic policy, the chair of the Equal Employment Opportunity Commission and the director of the Office of Government Ethics — to weigh the allegations and report whether there is “cause” for Cook’s removal under federal law, as interpreted by the Supreme Court in Trump v. Cook.

The committee is scheduled to hold a closed, transcribed hearing of no more than four hours at the White House on Nov. 5 — two days after the midterm elections. Cook “shall” appear, may bring counsel, and may submit a written position statement at least three days beforehand and a post-hearing statement by Nov. 10. The panel may consult the Justice Department and question Cook about the evidence.

What the Supreme Court required

Trump sought to fire Cook in 2025 after Federal Housing Finance Agency Director Bill Pulte alleged mortgage fraud; Cook has denied wrongdoing and has not been criminally charged. In June, the Supreme Court blocked that removal on procedural grounds, holding that Cook was entitled to notice, an explanation of the evidence and a chance to respond, while leaving open the possibility that the president could try again if he established cause.

Chief Justice John Roberts noted a historical precedent: President William Howard Taft convened a similar committee of inquiry in 1912 over members of a customs board. Roberts also wrote that a Fed governor is not entitled to “an audience with the President or a full-blown judicial trial,” and that the process could occur entirely in writing.

Cook’s response and the path ahead

Cook’s attorneys, Abbe Lowell and Norm Eisen, said she “welcomes the opportunity to present the facts” to clear her name, while expressing “grave doubts” that the hearing would be a legitimate process conforming to the law. The committee members — identified in news reports as National Economic Council Director Kevin Hassett, EEOC Chair Andrea Lucas and acting Office of Government Ethics Director Keith Sonderling — all report to the president.

The panel cannot remove Cook on its own; it only recommends whether cause exists. Trump would make any final decision, which the Supreme Court has said it could review. Legal analysts note that any firing would likely return to the justices and could take months to resolve.

Cook remains a voting member of the Fed and is expected to participate in the Oct. 28 interest-rate decision. Fed Chair Kevin Warsh has said the central bank will follow the Supreme Court’s ruling. The Fed referred questions on the new committee to Cook’s lawyers.