Home · Politics · Oct 9 archive
Trump Establishes Committee to Investigate Fed Governor Cook Over Mortgage Fraud
Confirmed
In Short: President Donald Trump has established a committee to investigate Federal Reserve Governor Lisa Cook over allegations of mortgage fraud, a move that has sparked legal challenges and concerns about the Fed's independence.
President Donald Trump has established a committee to investigate Federal Reserve Governor Lisa Cook over allegations of mortgage fraud, a move that has sparked legal challenges and concerns about the Fed's independence.
The allegations stem from Cook's mortgage applications in 2021, where she listed two different homes as her primary residence, according to Fox News and Scotusblog.
Cook's attorney, Abbe Lowell, argued that the Atlanta designation was an inadvertent mistake, and that she sought financing for it as a vacation home, consistently identifying Michigan as her 'primary' or 'permanent' residence.
The White House said it expects Cook to submit another written statement after the hearing, after which the committee will make a recommendation to Trump on whether there is adequate cause to remove her from her post.
Cook will be allowed to submit a written statement ahead of her first scheduled hearing on Nov. 5, 2026, at the White House, where she will be able to present argument, written evidence, and written witness statements regarding the evidence and allegations.
In a 5-4 ruling, the court ruled that Cook had not been given adequate time to respond to the allegations against her, and that the president cannot unilaterally fire a Federal Reserve governor.
Cook's attorneys, Abbe Lowell and Norm Eisen, expressed grave doubts about the legitimacy of the hearing, stating that the president's repeated statements that he has already decided to fire Cook regardless of the facts and evidence raise concerns.
Cook's attorneys argue that if the hearing is anything close to objective, the conclusion will be that Governor Cook did not commit mortgage fraud, leaving no cause to remove her from the Federal Reserve Board.
The newly-formed committee appears to be the process the White House has settled on to give Cook a chance to advocate for herself, as she will be allowed to submit a written statement ahead of her first scheduled hearing.
Cook's statement must be received by the committee at least three days ahead of the hearing, which will last no more than four hours.
Cook's attorney, Abbe Lowell, told Trump that the allegations against her were 'unfounded and untrue' in her response on Aug. 27.
Cook's attorneys argue that the opinions of the committee shape executive power and independent agencies, and that Trump's attempts to fire Cook represent the first time in the Federal Reserve's 113-year history that a president has sought to remove a Fed governor.
What this adds
The allegations stem from Cook's mortgage applications in 2021, where she listed two different homes as her primary residence.
Christian worship leader Sean Feucht is facing new fraud allegations from Steve Bray, a Southern California businessperson and Christian philanthropist.
Background
President Donald Trump has established a committee to investigate Federal Reserve Governor Lisa Cook over allegations of mortgage fraud, a move that has sparked legal challenges and concerns about the Fed's independence.
Christian worship leader Sean Feucht is facing new fraud allegations from Steve Bray, a Southern California businessperson and Christian philanthropist.
What's confirmed
- President Donald Trump has set up a committee to investigate Federal Reserve Governor Lisa Cook over allegations she made false statements on mortgage documents, the same accusations Trump has cited for over a year in a bid to remove her from office.
- Cook's attorney said the Atlanta designation was an inadvertent mistake, arguing that she sought financing for it as a vacation home and consistently identified Michigan as her "primary" or "permanent" residence.
- The White House said it expects Cook to submit another written statement after the hearing, after which the committee will make a recommendation to Trump on whether there is adequate cause to remove her from her post.
- Cook, the court states the president cannot unilaterally fire a Federal Reserve governor.
- “As soon as practicable after receipt of that statement, the Committee shall submit written findings of fact and conclusions of law to me and shall recommend whether there is cause to remove Governor Cook from her position on the Board of Governors of the Federal Reserve,” Trump wrote.
- “In light of the President’s repeated statements that he has already decided to fire Governor Cook — regardless of the facts and evidence — we have grave doubts that this ‘hearing’ is a legitimate one that would conform to the law,” wrote attorneys Abbe Lowell and Norm Eisen.
- President Donald Trump on Friday announced the creation of a three-person committee to investigate allegations of mortgage fraud against Lisa Cook, a member of the Federal Reserve’s Board of Governors.
What's still developing
- 7, 2026, but released on Friday by the Trump administration.
- Trump alleged that Cook, who began serving on the Fed in 2022 and was nominated to a full 14-year term by then-President Joe Biden in 2023, had committed mortgage fraud in 2021 by listing two different homes – a condo in Georgia and a house in Michigan – as her primary residence on mortgage applications, making her eligible for more favorable terms.
- By a vote of 5-4, the court on June 29 once again allowed Cook to remain in office while her challenge continued.
- Amy Acton (D), Vivek Ramaswamy (R), and Don Kissick (L) are running in the general election for governor of Ohio on Nov. 3.
- Ohio voters last elected a Democratic governor in 2006 when Ted Strickland (D) defeated J.
- There are currently 26 Republican governors and 24 Democratic governors.
- She is running alongside lieutenant governor candidate David Pepper (D), a lawyer and former Cincinnati councilmember.
- Federal Reserve (Fed) Governor Lisa Cook said in a speech in Oakland, California, that the number and magnitude of future adjustments to the Fed funds rate will depend on inflation and labor market data.
- Trump attempted to remove Cook in August 2025, triggering a lengthy legal battle that culminated in the Supreme Court blocking her firing in June 2026.
- Christian worship leader Sean Feucht is facing new fraud allegations from Steve Bray, a Southern California businessperson and Christian philanthropist.
- The New York Times ' Campbell Robertson and Jessica Contrera write, "While Dr. Acton is fighting the state’s rightward lean, Mr. Ramaswamy is facing a more acute problem: representing the party in power before a broadly unhappy electorate."
- AP 's Julie Carr Smyth writes, "Ramaswamy has parlayed his national name recognition, tech industry connections and alliance with President Donald Trump into a record fundraising haul that he is tapping for advertising spots aimed at the November election."