A White House committee has scheduled a closed-door hearing for Nov. 5, 2026, to examine mortgage fraud allegations against Federal Reserve Governor Lisa Cook, reviving a dispute that has stretched on for more than a year.
The panel, formed by President Donald Trump, is tasked with investigating claims that Cook made false statements on mortgage documents tied to homes in Atlanta and in Michigan. Those allegations are the same ones Trump has cited since August 2025 in his effort to remove Cook from the Fed board.
Trump first tried to fire Cook in August 2025, setting off a legal fight that reached the Supreme Court. In June 2026, the court blocked the firing in a 5-4 decision, ruling that Cook had not been given adequate time to respond to the accusations against her.
The newly created committee appears to be the mechanism the White House has chosen to satisfy that requirement, giving Cook a formal chance to defend herself before any further action is taken.
How the hearing will work
According to a notice dated Oct. 7, 2026, and released publicly on Friday, Cook will be permitted to submit a written statement ahead of the hearing, which must reach the committee at least three days in advance. The hearing itself will take place at the White House and last no more than four hours.
During the session, Cook will be allowed to present arguments, written evidence and written witness statements addressing the allegations, the White House said. Department of Justice lawyers will then question her. The hearing will be closed to the public, though a transcript will be made.
Three White House staffers will sit on the committee, including National Economic Council director Kevin Hassett, who had been among Trump’s top candidates to replace Jerome Powell as Fed chair before Trump ultimately chose Kevin Warsh.
The White House expects Cook to file a second written statement after the hearing concludes. The committee will then make a recommendation to Trump on whether there is sufficient cause to remove her from the Federal Reserve board.
The underlying allegations
The White House renewed its push against Cook in August, sending her a letter notifying her that Trump was again weighing her removal. This time she was given 21 days to respond. Her attorneys sent a letter back on Aug. 26 denying that she had committed mortgage fraud.
The administration alleges Cook listed homes in Atlanta and Michigan as her primary residence on separate mortgage agreements, and later rented out the Atlanta property.
Cook’s attorney has said the Atlanta designation was an inadvertent mistake, arguing she sought financing for that property as a vacation home while consistently naming Michigan as her “primary” or “permanent” residence.
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