Summary
President Donald Trump created a special committee to investigate claims that Lisa Cook, a Federal Reserve Board member, made false statements on mortgage documents. The committee will hold a private hearing and decide if Cook should be removed from her position.Key Facts
- President Trump signed a memo creating a three-person committee to investigate Lisa Cook.
- The committee members include the assistant for economic policy, head of the Equal Employment Opportunity Commission, and head of the Office of Government Ethics.
- A private hearing is scheduled for November 5 at the White House to review evidence against Cook.
- Lisa Cook can respond in writing and attend the hearing to present her defense.
- Cook’s lawyers say she wants to clear her name and believes there is no legal reason to remove her.
- Trump previously tried to fire Cook last year based on similar mortgage fraud accusations.
- The Supreme Court ruled Cook can stay on the Federal Reserve while legally challenging her removal.
- The Court said the president must provide notice and a chance to respond before firing a Fed member "for cause."
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