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Trump establishes committee to investigate Fed governor Lisa Cook

US President Donald Trump has announced the formation of a committee to investigate Federal Reserve governor Lisa Cook over mortgage fraud allegations, despite a previous Supreme Court ruling that her firing was unconstitutional.

  • President Trump announced a committee to investigate Federal Reserve governor Lisa Cook for alleged mortgage fraud.
  • This action follows a June Supreme Court ruling that Trump's earlier firing of Cook was unconstitutional.
  • A White House hearing on the allegations is scheduled for 5 November, which will be closed to the public but transcribed.

US President Donald Trump announced on Friday that he is establishing a committee to investigate Lisa Cook, a US Federal Reserve governor. The investigation concerns allegations that Ms Cook committed mortgage fraud.

This move renews efforts to remove Ms Cook, despite a June Supreme Court ruling that her earlier firing was unconstitutional. The Supreme Court had reinstated Ms Cook after a 5-4 ruling.

President Trump stated that the committee will consult with Justice Department officials to determine if there is “cause” for her removal. The White House will hold an in-person hearing on 5 November to consider the allegations. This hearing will be closed to the public but will be transcribed and published. Ms Cook will have the opportunity to submit a written statement and be examined by White House and her own legal counsel.

Ms Cook's legal team has maintained that the White House is "cherrypicking" facts and that any claims of fraud are based on unrelated clerical errors.

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