President Donald Trump has established a committee to investigate allegations that Federal Reserve Governor Lisa D. Cook made false statements in connection with mortgage documents. His October 7 memorandum directs the panel to hold a hearing at the White House on November 5.
The committee’s assignment is to recommend to Trump whether there is cause to remove Cook from the Federal Reserve Board. The memorandum does not itself remove her or establish that the allegations are true.
Three officials will serve on the panel: the assistant to the president for economic policy, the chairman of the Equal Employment Opportunity Commission and the director of the Office of Government Ethics.
The November 5 hearing is to take place in person, last no more than four hours and be closed to the public. A transcript will be made. Under the memorandum, Cook must appear and may be questioned by the committee, its representatives and her legal counsel, if any.
Before the hearing, the panel must give Cook the evidence it is considering. She may present arguments, written evidence and written witness statements. She may also submit a written position statement, provided the committee receives it at least three days before the hearing.
Cook has until November 10 to submit a post-hearing written statement. After receiving it, the committee is directed to send Trump written findings of fact, legal conclusions and its recommendation as soon as practicable.
The memorandum allows the panel to add procedures or make reasonable changes to them, with adequate notice to Cook.
