Federal Reserve Governor Lisa Cook’s attorney has challenged the neutrality of a White House panel examining mortgage-related allegations against her, while seeking a delay of its scheduled Nov. 5 hearing.
In an Oct. 13 letter reviewed by Reuters, attorney Abbe Lowell objected to National Economic Council Director Kevin Hassett serving on the three-member committee. Lowell said Hassett had previously urged Cook to take leave and indicated that President Donald Trump had grounds to fire her. The letter argued that Hassett’s involvement raised questions about whether the review could be conducted impartially.
Lowell also cited the prospect of additional allegations and evidence being disclosed without a clear schedule. He questioned why any further material had not been provided earlier, according to the account of the letter.
The attorney requested that the hearing be postponed because Cook is expected to be in Europe for official financial and monetary policy meetings on Nov. 5. Lowell said she would not be available until after the Federal Reserve’s Dec. 8-9 policy meeting. The supplied report said it was not clear whether the committee would grant the request.
Trump created the panel in an Oct. 7 memorandum to assess whether allegations involving Cook’s mortgage applications provide sufficient grounds for her removal from the central bank. The committee also includes the chairman of the Equal Employment Opportunity Commission and the director of the Office of Government Ethics.
Under the memorandum, Cook is to receive the evidence against her and may present a defense at a closed-door hearing lasting up to four hours. The panel is then to recommend whether Trump has cause to remove her. The committee’s recommendation is part of the process described in the memorandum; the report did not say that a final decision had been made.
The allegations concern property in Georgia and a property in Michigan. The White House alleges Cook identified properties in both states as primary residences on separate mortgage agreements and later rented out the Georgia property. Cook denies mortgage fraud. Her attorneys say the Georgia designation was an inadvertent mistake and that she consistently listed Michigan as her primary residence.
Trump has sought Cook’s removal since August 2025. In June, the Supreme Court ruled 5-4 that he could not remove her without adequate notice and an opportunity for her to contest the allegations, leaving open a possible route to removal if those procedural requirements are met.
The dispute touches on the Federal Reserve’s independence from political pressure. The immediate issue before the panel is whether the allegations warrant a recommendation that Cook be removed, while Lowell’s letter challenges the fairness and timing of the review. The source report said Fox Business had contacted Lowell for further comment.
