Trump Orders Inquiry Into Fed Governor Lisa Cook’s Mortgage Claims

President Donald Trump has ordered an inquiry into Federal Reserve Governor Lisa D. Cook after raising allegations that she made false statements on mortgage documents, opening a new step toward a possible removal attempt.

A three-member committee will hold a closed, transcribed hearing at the White House on Nov. 5. The session may last up to four hours. Cook can submit a written position statement at least three days before the hearing and a post-hearing statement by Nov. 10.

The panel includes Kevin Hassett, assistant to the president for economic policy; Andrea R. Lucas, chair of the Equal Employment Opportunity Commission; and Keith Sonderling, director of the Office of Government Ethics. It will send Trump written findings, legal conclusions and a recommendation on whether cause exists for removal. The committee itself cannot fire Cook, and any final decision would remain subject to court review.

The action follows a June Supreme Court ruling that allowed Cook to remain on the Fed’s Board during litigation while permitting a future removal effort with adequate notice and an opportunity to respond. Cook’s lawyers deny mortgage fraud allegations and say she has not been charged with a crime.

Cook remains a voting member of the Federal Open Market Committee ahead of its scheduled Oct. 27–28 meeting, keeping the dispute tied to the Fed’s rate-setting process and questions about central-bank independence.