President Donald Trump has formed an investigative committee to examine allegations that Federal Reserve Governor Lisa Cook provided false information in mortgage applications. The committee is set to hold a hearing at the White House on November 5, marking a new stage in the president’s ongoing efforts to remove her from office.
The White House Investigative Committee
The White House confirmed the formation of a committee tasked with probing claims that Lisa D. Cook made false statements regarding one or more mortgage documents. According to a presidential memorandum, the committee will evaluate evidence and provide a report on whether there is sufficient “cause” to justify her removal from the Federal Reserve Board of Governors.
The memorandum, dated October 7 and published on the White House website, mandates that Cook attend an in-person hearing at the White House on November 5. The proceedings are limited to a four-hour duration. While the hearing will not be open to the public, the administration stated that the transcript of the session will be released. Cook is permitted to submit a written statement to the committee outlining her position on the allegations and must undergo questioning during the session.
Supreme Court Blocks Previous Presidential Removal Attempt
This investigation represents the latest in a series of attempts by the president to dismiss Cook, who was first appointed by former President Joe Biden in 2022 and reappointed in 2023 for a term extending through 2038. A previous attempt to remove her, initiated following accusations in August 2025 by Bill Bolti, head of the Federal Housing Finance Agency, was blocked by the Supreme Court in June. The Supreme Court ruling kept Cook in her position while the case was referred to a local federal court for further review.
In that ruling, the Supreme Court held that the president cannot unilaterally dismiss a member of the Federal Reserve Board without demonstrating sufficient cause
and adhering to transparent procedural requirements. The court mandated that the member must be notified of the allegations and granted a meaningful opportunity to respond. Cook has denied any wrongdoing, and no criminal charges have been filed against her.
Attorneys Question Objectivity of Upcoming White House Hearing
Attorneys for Cook, Abbe Lowell and Norm Eisen, stated on October 9 that they have reached out to the White House to determine whether the upcoming hearing will function as a substantive, objective inquiry or merely a procedural formality. In a formal statement, the defense team asserted that an impartial review of the facts would demonstrate the lack of any legal basis for her removal. The defense emphasized that the proceedings must be handled with objectivity to ensure the integrity of the process.
Cook welcomes the opportunity to present the facts related to the case, allowing her to respond to the allegations and prove her innocence.
The case remains a significant test of the central bank’s independence. With the committee now tasked to examine the evidence and allegations directed at Cook and report back, the upcoming November hearing is expected to clarify whether the administration can meet the high evidentiary bar set by the judiciary for the removal of a Federal Reserve governor. Beyond these legal challenges, Cook continues her duties, having participated in a March 19, 2026, meeting at the Federal Reserve headquarters in Washington, D.C., where she discussed proposals to ease capital requirements for large and regional banks.
