President Donald Trump announced he is setting up a committee to investigate allegations that Federal Reserve Governor Lisa Cook made false statements on mortgage documents in 2021.

The committee will hold an in-person hearing to consider the evidence and allegations against Governor Cook on Nov. 5, a memorandum dated Oct. 7 and released Friday said. The notice said the hearing will occur at the White House and last no longer than 4 hours.

"As president, it is my job to ensure the laws are faithfully executed, including by firing subordinates who cannot be trusted to tell the truth and follow the law," Trump said in the memorandum.

Trump's move to establish an investigative committee and set up a hearing comes after the Supreme Court blocked his effort to fire Cook last year.

The Supreme Court rejected the government's "halfhearted contention" that Cook received due process. "At minimum, Cook was entitled to some explanation of the evidence at issue, some avenue for a response, and a deadline by which a response would be due," the opinion noted.

Following the legal setback, the White House issued a letter in August stating the administration again intended to pursue her termination.

Cook was ordered to provide a written explanation within 21 days responding to allegations she made false claims on mortgage documents that may have secured her more favorable loan terms.

Cook responded on Aug. 26 with a five-page letter and exhibit to defend her actions in acquiring two properties in 2021.

The latest memorandum noted that Cook may submit a written position statement to the committee regarding the allegations at least three days before the hearing, as well as a post-hearing written statement by Nov. 10.

"As soon as practicable after receipt of that statement, the Committee shall submit written findings of fact and conclusions of law to me and shall recommend whether there is cause to remove Governor Cook from her position on the Board of Governors of the Federal Reserve," the notice said.

Attorneys for Cook questioned the legitimacy and objectivity of the hearing on Friday.

"In light of the President's repeated statements that he has already decided to fire Governor Cook - regardless of the facts and evidence - we have grave doubts that this 'hearing' is a legitimate one that would conform to the law," Cook's attorneys, Abbe D. Lowell and Norm Eisen, said in a statement.

Cook's lawyers said they are in communication with the White House to evaluate whether the process proposed has a "possibility of being a genuine one and not simply a box checking exercise."

Cook launched her legal battle on Aug. 28, 2025, after Trump attempted to remove her from the Fed. She argued the attempt violated her right to due process, and that the government hadn't provided sufficient evidence to merit removal "for cause," as required.

The administration's case stems from several mortgages Cook took out for homes in Michigan and Georgia. The White House alleges documents Cook signed listed both properties as primary residences.

In Cook's Aug. 26 letter responding to the allegations, her attorneys said it was an "entirely inadvertent oversight" that her Atlanta condominium was listed as a primary residence in the mortgage agreement.

"An inadvertent oversight is not fraudulent or criminal," the letter said. No banking or mortgage professional could reliably conclude that Cook acted with an intent to deceive, her legal team contended, adding that such mistakes are common.

All of the allegations against Cook center on conduct that took place before she became governor. She was appointed in 2022 by then-President Joe Biden to fill an unexpired term. She was reappointed in 2023 to her current term, which is set to end in January 2038.