Trump Creates Committee to Probe Allegations of Mortgage Fraud by Fed Governor Lisa Cook
Updated on: October 9, 2026 / 6:42 PM EDT / CBS News
TL;DR
- President Trump has formed a committee to investigate allegations of mortgage fraud against Federal Reserve Governor Lisa Cook.
- The committee, composed of three administration officials, will report to the President on whether there is cause to remove Cook.
- A private hearing is scheduled for November 5th, where evidence will be considered and Cook can present her defense.
- Cook's legal team maintains her innocence and questions the legitimacy of the process, citing the President's prior statements about his intent to fire her.
- This investigation follows previous attempts by Trump to remove Cook, which were challenged legally and reached the Supreme Court.
- The Supreme Court previously ruled that Cook was entitled to procedural protections, including notice and an opportunity to respond, before removal.