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

Trump Creates Committee to Probe Allegations of Mortgage Fraud by Fed Governor Lisa Cook

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.