India, Oct. 9 -- US President Donald Trump has set up a committee to investigate Federal Reserve Governor Lisa Cook over unproven allegations that she made false statements on mortgage documents.

The White House has scheduled a hearing for November 5 to examine the claims and decide whether there are legal grounds to remove her from the central bank.

Cook has denied wrongdoing and has not been charged with a crime. Her lawyers have questioned whether the inquiry will be fair, but said she is ready to present evidence to defend herself.

The White House announced the inquiry in a memorandum dated October 7. The committee will examine allegations that Cook made "false statements in connection with one or more mortgage instruments."

The h...