Trump creates committee to investigate Fed Governor Lisa Cook
Source published: Oct 9, 2026 · 10:04 AM EDT · Event: 2026-10-09
President Donald Trump established a three-member committee to investigate allegations that Federal Reserve Governor Lisa Cook made false statements in connection with one or more mortgage instruments. The October 7 presidential memorandum directs the committee to report whether there is cause to remove Cook under the Federal Reserve Act. It schedules a closed, four-hour White House hearing for November 5, requires Cook to appear and permits her to submit evidence and argument before and after the hearing. The memorandum establishes a process; it does not find that Cook made a false statement or that cause for removal exists.
Response / context
Cook has denied wrongdoing and has not been charged with a crime, the Associated Press reported. In a statement added to Reuters' report Friday, her lawyers Abbe Lowell and Norm Eisen said Cook welcomes the opportunity to present the facts and that an objective hearing will show she did not commit mortgage fraud and that no legal basis exists to fire her. They also said they have engaged with the White House about the process. The White House memorandum requires the committee to provide Cook the evidence it will consider before the hearing and allows a post-hearing statement by November 10. The committee must then submit findings and a recommendation to Trump. The Supreme Court's June 29 decision left Cook in office and held that the earlier removal attempt did not provide the process required in the circumstances; it noted that the president could begin a new process with notice and an opportunity to respond. That decision did not resolve the truth of the mortgage allegations, and the new committee has not yet issued findings.
Dates and scope
Source publication: Oct 9, 2026 · 10:04 AM EDT
Event or conduct: 2026-10-09. The presidential memorandum is dated October 7 and was published by the White House on October 9. Reuters and AP reported the new committee and planned hearing on October 9.
Dated report. Publication, event and review times are different; the review time is when the sources were last checked, not a live update.
This brief preserves the available response and disposition. Coverage is non-exhaustive. How we review sources.
Read the original sources
- The White House: Establishment of a Committee of Inquiry to Investigate Allegations of False Statements by Lisa DeNell Cook ↗
Primary October 7 presidential memorandum, published October 9, establishing the committee, naming its members and setting the hearing and response procedures
- Supreme Court of the United States: Trump v. Cook, No. 25A312 ↗
Primary June 29 decision describing the earlier removal attempt, the Federal Reserve Act's for-cause protection and the process required before a renewed attempt
- Reuters: Trump to hold inquiry into Fed's Lisa Cook at White House ↗
Authoritative October 9 report confirming the committee, hearing and Supreme Court context, updated with Cook's lawyers' direct response and their engagement with the White House
- Associated Press: Trump establishes committee to investigate Federal Reserve's Lisa Cook in latest effort to fire her ↗
Authoritative October 9 report documenting the November 5 hearing, Cook's denial, absence of criminal charges and Federal Reserve independence context
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