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One free scan finds every outdated or missing driver and matches the right update for your exact hardware.Free scan · exact hardware matchPresident Donald Trump established a committee of inquiry on October 7, 2026, to investigate allegations that Federal Reserve Governor Lisa D. Cook made false statements in connection with mortgage instruments. The memorandum creates an investigation, not a finding of mortgage fraud; Cook denies wrongdoing, and the committee has not yet issued findings.
What is the committee investigating?
The memorandum says the committee will investigate allegations that Cook made false statements in connection with one or more mortgage instruments. The Associated Press reported that the allegations concern two properties represented as primary residences in mortgage applications in 2021. That description is an allegation, not an established finding.
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Cook denies wrongdoing. Her lawyers characterized the discrepancy as an “inadvertent error,” and told the Associated Press that Cook welcomed the opportunity to present facts and show there was no legal basis to fire her. AP reported on October 9 that she had not been charged with a crime.
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When will Lisa Cook appear before the committee?
The memorandum schedules an in-person hearing at the White House for November 5, 2026. The hearing may last no more than four hours. It will be closed to the public but transcribed, so it is not expected to be open for public attendance or live observation.
Before the hearing, the committee must provide Cook with the evidence it is considering. She may submit a written position statement at least three days beforehand, appear and be examined, present arguments and written evidence, and submit written statements from witnesses. Her post-hearing statement is due by November 10.
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After the hearing, the committee is to send the president written findings of fact, conclusions of law, and a recommendation on removal as soon as practicable. The memorandum does not set a specific date for that report.
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The memorandum names three members:
- The Assistant to the President for Economic Policy
- The chair of the Equal Employment Opportunity Commission
- The Director of the Office of Government Ethics
The memorandum identifies the members by their offices rather than naming individual appointees.
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Can Trump remove a Federal Reserve governor?
The committee is tasked with reporting whether there is “cause” for Cook’s removal under 12 U.S.C. 242, as construed in Trump v. Cook. Its recommendation is not itself a final removal decision.
As CBS News reported on October 9, the Supreme Court ruled in June 2026 that Cook could continue serving while her challenge proceeded because she had not received notice and an opportunity to respond before an earlier attempted removal. The current committee process follows a renewed notice and response process in August. That reported ruling concerned the earlier process; it does not resolve what the committee will find or what will happen after its report.
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What happens next?
As of October 11, 2026, the hearing and committee report remain in the future, and no findings on the allegations have been announced. The next scheduled public milestone is the November 5 hearing, but the memorandum requires it to be closed. The committee’s findings and recommendation will inform the president’s next step; the ultimate outcome and any legal consequences remain unresolved.
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