Politics
• Analysis
Lisa Cook investigation: Trump establishes committee over mortgage fraud allegations
Donald Trump announced on Friday that he is establishing a committee to investigate Federal Reserve governor Lisa Cook over mortgage fraud allegations, renewing his efforts to oust her despite a June supreme court ruling that her earlier firing was unconstitutional.
By Haut Monde Post
• October 10, 2026
• 2 Min Read
Committee and justice department review
The committee will consult justice department officials to decide whether there is "cause" for Cook's removal, according to Trump's announcement. The move renews his attempt to dismiss the fed governor Lisa Cook after courts blocked his earlier effort.
In a statement on the White House website, Trump framed the step as a matter of duty:
"As President, it is my job to ensure the laws are faithfully executed, including by firing subordinates who cannot be trusted to tell the truth"
White House hearing on 5 November
A White House hearing on 5 November will consider the allegations in person. It will be closed to the public, but the proceedings are to be transcribed and published. The lisa cook investigation hearing is set out with these terms:
- •Cook may submit a written statement presenting her own evidence
- •She will be subject to examination from White House counsel and her own legal counsel
Cook's legal team responds
Her lawyers have maintained that the White House is "cherrypicking" facts and that any claims of fraud rest on unrelated clerical errors. They said they had "grave doubts" the hearing would be "a legitimate one that would conform to the law".
If the process is "anything close to objective", they continued, "the conclusion will be that Governor Cook did not commit mortgage fraud". They added that Cook "welcomes the opportunity to present the facts so she can clear her name".
Background: firing, lawsuit and reinstatement
Trump fired Cook abruptly in August 2025, saying she committed mortgage fraud by listing two properties in Georgia and Michigan as her primary residence. She sued the Trump administration immediately, and the supreme court reinstated her in a 5-4 ruling that she could stay on as governor while fighting the allegations.
In June, the court went further, ruling that the firing was unconstitutional because Trump did not follow proper procedure and give her an opportunity to dispute the allegations first. The new committee is the administration's next step toward a second removal attempt.
Cook was appointed by Joe Biden in 2022 to a 14-year term, becoming the Fed's first Black governor. Before joining the Fed, she taught at Harvard University and Stanford University and served on Barack Obama's council of economic advisers.
