President Donald Trump established a committee to investigate Federal Reserve Governor Lisa Cook over alleged false mortgage statements, scheduling an in-person White House hearing for November 5. The action revives presidential efforts to oust Cook despite a Supreme Court ruling earlier in the year that blocked an earlier attempt.
Trump announced the inquiry on a Friday, appointing a committee to consult with Justice Department officials to determine whether sufficient cause exists to remove Cook from the central bank’s seven-member board of governors. In the written memo detailing the inquiry, Trump stated that Cook “shall” attend the November 5 session to answer questions. Cook has denied any wrongdoing and has not been charged with a crime.
White House Sets November 5 Hearing for Cook
The newly formed committee is set to convene an in-person hearing on November 5 at the White House, scheduled to last no longer than four hours. Trump’s directive mandates that Cook must attend to answer questions from the panel, its representatives, and her own legal counsel.
The inquiry panel includes three designated members: top economic aide Kevin Hassett, Equal Employment Opportunity Commission Chairman Andrea Lucas, and acting Office of Government Ethics Director Keith Sonderling.
“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 and follow the law,”
Donald Trump, President of the United States
White House Restarts Ouster Bid Over Mortgage Claims
The White House contends that in 2021, she declared two different properties as her primary residence in mortgage applications, specifically listing two properties in Georgia and Michigan as her primary residence and failing to report rental income on her Atlanta property, potentially securing lower interest rates or other beneficial terms reserved for primary homes. The dispute stems from allegations that Cook made false statements on mortgage applications prior to her tenure on the board.
In August 2025, she was abruptly fired after similar accusations regarding properties in Georgia and Michigan. Cook immediately challenged the dismissal in court. In June, the Supreme Court ruled 5-4 that the initial firing was unconstitutional because the president failed to provide proper procedural notice and an opportunity for her to dispute the claims before termination. While that ruling permitted her to remain in office while fighting the allegations, a court footnote specified that nothing prevented Trump from “trying again” as long as she was given proper notice and an opportunity to respond to the charges.
Cook Defense Team Prepares for White House Hearing
Cook’s defense team, comprising attorneys Abbe Lowell and Norman Eisen, has maintained that the allegations stem from unrelated clerical errors or inadvertent mistakes rather than intentional fraud.
“We have engaged with the White House to evaluate whether the process proposed has a possibility of being a genuine one and not simply a box checking exercise,” added Cook’s lawyers Abbe Lowell and Norm Eisen in a statement. “Governor Cook welcomes the opportunity to present the facts so she can clear her name and demonstrate there is no legal basis to fire her.”
Abbe Lowell and Norman Eisen, Counsel for Lisa Cook
Cook’s legal team confirmed that she welcomes the opportunity to present the facts and demonstrate that no legal cause exists for her removal.
Congress established the central bank as an independent institution, and Trump’s attempts to fire Cook from the Fed’s seven-member board of governors represent the first time in the central bank’s 113-year history that a president has sought to remove a Fed governor.