US President Donald Trump has established a White House committee to investigate Federal Reserve Governor Lisa Cook over allegations of false statements in mortgage documents, renewing his efforts to remove her from office.
The committee will hold a closed-door hearing at the White House on November 5 to examine the allegations and recommend whether there are sufficient legal grounds to dismiss Cook from the Federal Reserve Board of Governors.
The inquiry was established through a presidential memorandum dated October 7.
Its members are Kevin Hassett, the White House assistant to the president for economic policy; Andrea Lucas, chair of the Equal Employment Opportunity Commission; and Keith Sonderling, acting director of the Office of Government Ethics.
Trump said the committee would help determine whether Cook’s conduct provided grounds for her removal under the law.
The president’s move has renewed a legal and political dispute over his authority to dismiss a sitting Federal Reserve governor and the independence of the US central bank.
Cook has denied wrongdoing and previously challenged Trump’s attempt to remove her over allegations linked to mortgage applications.
Her lawyers, Abbe Lowell and Norm Eisen, questioned whether the proposed hearing could be impartial, pointing to Trump’s repeated statements suggesting that he had already decided to dismiss the governor.
They nevertheless said Cook welcomed the opportunity to present evidence and defend herself.
The allegations concern claims that Cook made false representations about properties listed as primary residences when obtaining mortgages. She has not been established as guilty of mortgage fraud.
Supreme Court previously blocked Trump’s move
The latest inquiry follows a June 2026 Supreme Court decision that prevented Trump from immediately removing Cook while her legal challenge continued.
The ruling allowed her to remain in office during the proceedings but did not finally resolve every question surrounding the circumstances in which a president may remove a Federal Reserve governor.
Under the new process, Cook may submit a written defence, present documentary evidence and written witness statements, and respond to questions from the committee.
The hearing will last no longer than four hours and will be closed to the public, although a transcript will be prepared.
Cook may also submit a post-hearing statement by November 10. The committee is then expected to send the president its findings and recommendation on whether there is cause for her removal.
Democrats criticise investigation
The move has drawn criticism from Democrats concerned about presidential interference in the Federal Reserve.
Senator Elizabeth Warren, the top Democrat on the Senate Banking Committee, accused Trump of organising an illegitimate proceeding to exert control over the independent central bank.
The dispute comes amid broader tensions between Trump and the Federal Reserve over monetary policy and the institution’s autonomy.
Trump has also pursued scrutiny of former Fed chair Jerome Powell over cost overruns associated with the central bank’s headquarters renovation.
However, the Federal Reserve’s inspector general found no grounds for a criminal referral in that matter, and the Justice Department said it would not reopen its criminal investigation into Powell.
The investigation into Cook now presents another test of the boundaries between presidential authority and the independence of the Federal Reserve.
The committee’s recommendation could shape the next stage of the dispute, but the mortgage allegations remain contested, and Cook has said she intends to defend herself against them.
