Trump announces White House probe into Federal Reserve governor Lisa D. Cook

WASHINGTON (TNND) — President Donald Trump said that the White House has a committee that will investigate allegations that a Federal Reserve governor committed mortgage fraud.

The “committee of inquiry” will look into the unfounded claims that Lisa D. Cook committed mortgage fraud, according to The New York Times.

The White House put out a press release on Oct. 7 about establishing the committee of inquiry.

“Governor Cook may submit a written position statement to the Committee regarding the allegations, provided the statement is received at least 3 days before the hearing,” the lengthy statement reads. “Governor Cook shall appear at the hearing and be examined by the Committee, its representatives, and her legal counsel, if any.”

Lawyers for Cook told The New York Times that they doubted the hearing would be legitimate.

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“But if it is anything close to objective, the conclusion will be that Governor Cook did not commit mortgage fraud, leaving no cause to remove her from the Federal Reserve Board,” the lawyers said.

Cook was fired from her position as a Federal Reserve governor in August over the fraud allegations.

The mortgage fraud allegations stem from a report from Bill Pulte, director of the Federal Housing Finance Agency.

Pulte alleged that Cook has claimed two homes as her main residence. One of them was allegedly in Georgia and the other was in Michigan. She allegedly did this in order to fraudulently obtain better mortgage lending terms.