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Trump creates committee to probe allegations of mortgage fraud by Fed Governor Lisa Cook
CBS News • • general
Key Points:
- President Trump has established a three-member committee to investigate allegations that Federal Reserve Board Governor Lisa Cook made false statements on mortgage documents, aiming to determine if there is cause for her removal.
- The committee, comprising the assistant to the president for economic policy, the EEOC chair, and the head of the Office of Government Ethics, will hold a private hearing on November 5 and submit its findings to Trump.
- Cook has the right to submit a written response and appear before the committee, with her lawyers expressing cautious optimism about clearing her name but questioning the fairness of the process.
- This move follows Trump’s earlier attempts to remove Cook, which were blocked by the Supreme Court on procedural grounds, emphasizing that Cook must be given notice and an opportunity to respond before removal.
- The White House notified Cook in August of the ongoing consideration of her removal and set a deadline for her to respond to the mortgage fraud allegations.
