President Donald Trump’s administration has scheduled a formal hearing to examine allegations involving Lisa Cook’s mortgage applications as the White House continues its effort to determine whether sufficient legal grounds exist to remove her from the Federal Reserve Board.
By yourNEWS Media Newsroom
WASHINGTON — The White House has scheduled a Dec. 14 hearing into mortgage fraud allegations against Federal Reserve Governor Lisa Cook, advancing President Donald Trump’s effort to remove the central bank official following a Supreme Court ruling that established procedural requirements for her potential dismissal.
The hearing date was reported Wednesday, Nov. 4, by The New York Times, citing an unnamed White House official. Reuters confirmed the reported schedule, which follows weeks of discussions between administration officials and Cook’s attorneys over the timing and procedures of the inquiry.
Cook has denied wrongdoing and remains a member of the Federal Reserve Board of Governors. She has not been charged with a crime.
The allegations concern mortgage documents from 2021 in which Cook allegedly identified more than one property as her primary residence. Trump has argued that the discrepancies constitute grounds for removing her from the board.
Cook’s attorneys dispute that characterization, maintaining that any errors were inadvertent and do not establish mortgage fraud or a legal basis for dismissal.
The December hearing will replace a proceeding initially scheduled for Thursday, Nov. 5, under an Oct. 7 presidential memorandum establishing a committee of inquiry.
The committee was directed to investigate whether Cook made false statements in connection with mortgage instruments and recommend whether her conduct satisfies the statutory standard for removing a Federal Reserve governor.
Trump appointed three administration officials to the panel: White House economic adviser Kevin Hassett, Equal Employment Opportunity Commission Chair Andrea Lucas and acting Office of Government Ethics Director Keith Sonderling.
The committee is authorized to review evidence, question Cook and her legal representatives, and consider documents and witness statements before submitting its conclusions to the president.
Under the original memorandum, the hearing was to be conducted privately at the White House, with a transcript prepared afterward.
Cook’s attorneys objected to the initial November schedule, citing conflicts with her official responsibilities and insufficient time to prepare a response.
Attorney Abbe Lowell informed the administration that Cook would be attending financial and monetary policy meetings in Europe during the previously scheduled hearing.
He also requested that any proceeding take place after the Federal Reserve’s Dec. 8-9 policy meeting.
The new Dec. 14 date accommodates that requested timetable.
Hassett previously acknowledged that the White House had agreed to postpone the proceeding, although Cook’s legal team had not publicly confirmed a specific date at that time.
“The president has asked a small set of his people to run a completely fair process that puts all the information on the table, and then the president will decide next steps,” Hassett said in an Oct. 29 interview with Bloomberg Television, according to Reuters.
Hassett said White House counsel had been working with Cook’s representatives to arrange the hearing.
“We in the White House, the White House counsel, has worked very closely with Governor Cook’s people. I think that they’ve agreed to a date in December to meet together and talk these things through,” he said.
The dispute began in August 2025, when Trump attempted to dismiss Cook over allegations concerning her mortgage applications.
Cook challenged the decision in federal court, arguing that the president lacked sufficient legal grounds to remove her and had failed to provide an appropriate opportunity to respond.
The case raised questions about the limits of presidential authority over the Federal Reserve, whose governing structure is designed to provide independence from direct political control.
Under the Federal Reserve Act, members of the Board of Governors serve staggered 14-year terms and may be removed by the president only for cause.
The Supreme Court ruled in June 2026 that Trump could not dismiss Cook at will but could pursue removal if he established sufficient grounds and provided appropriate procedural protections.
The ruling allowed Cook to remain in office while leaving open a process through which the administration could formally examine the allegations.
Trump subsequently established the committee of inquiry to develop a factual record and determine whether the accusations meet the legal standard for removal.
Cook’s legal representatives have characterized the allegations as a pretext for removing a Federal Reserve official whose monetary policy positions differ from the president’s preferences.
Trump has repeatedly criticized the central bank for not reducing interest rates more aggressively, arguing that lower borrowing costs would support economic growth and investment.
Cook has maintained that monetary policy decisions should be based on economic conditions, including inflation and employment trends.
The disagreement became more pronounced during the Federal Reserve’s latest policy deliberations, when Cook favored raising interest rates to address persistent inflation while the central bank elected to leave rates unchanged.
The allegations against Cook involve conduct predating her appointment to the Federal Reserve in 2022.
Legal experts have questioned whether alleged discrepancies in mortgage applications made before a governor’s appointment would satisfy the statutory grounds for removal, particularly without a criminal finding or established intentional misconduct.
The administration maintains that the inquiry is necessary to determine whether Cook made false statements that could undermine public confidence in a senior financial official.
Cook’s attorneys have said she welcomes an opportunity to present evidence and clear her name through an appropriate process.
The hearing will allow the committee to evaluate the competing claims before recommending whether Trump has cause to remove her.
Any subsequent dismissal could prompt further litigation over the committee’s procedures, the evidence presented and the legal definition of cause under the Federal Reserve Act.
The dispute has broader implications for the central bank’s independence because it concerns whether a president can remove a sitting governor over alleged misconduct unrelated to monetary policy decisions.
The outcome could also establish a precedent affecting future disputes between the White House and Federal Reserve officials.
For now, Cook remains in her position and is expected to participate in the central bank’s December policy meeting before the scheduled hearing.
The Dec. 14 proceeding represents the next formal step in the administration’s investigation, but no determination of wrongdoing or decision to remove Cook has been announced.
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