Story perspectives

Trump Forms Committee to Probe Lisa Cook Mortgage Fraud

By Drooid · Oct 15, 2026, 2:09 AM UTC · How we work

Summary

Story summary

U.S. President Donald Trump created a committee to investigate alleged mortgage fraud by Federal Reserve (Fed) Governor Lisa Cook.
The committee set a closed-door hearing for Nov. 5 at the White House.
Abbe Lowell said Cook cannot attend Nov. 5 hearing because she will be in Europe.
Lowell added Cook could appear only after the Fed’s Dec. 8-9 policy meeting.
Cook denies fraud claims, saying they aim to oust her from the Fed.

History

Historical Context

In July 2008 the House Financial Services Committee, led by Rep. Barney Frank, held hearings on the Federal Reserve’s $700 billion emergency-lending response to the subprime crisis, a program that swelled to over $1 trillion in loans by year-end under the 1913 Federal Reserve Act. The 2010 Dodd-Frank reforms later tightened oversight, a backdrop for today’s Trump-appointed panel probing Fed Governor Lisa Cook.

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Story summary

U.S. President Donald Trump created a committee to investigate alleged mortgage fraud by Federal Reserve (Fed) Governor Lisa Cook.
The committee set a closed-door hearing for Nov. 5 at the White House.
Abbe Lowell said Cook cannot attend Nov. 5 hearing because she will be in Europe.
Lowell added Cook could appear only after the Fed’s Dec. 8-9 policy meeting.
Cook denies fraud claims, saying they aim to oust her from the Fed.

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