Trump forms 3-member panel to weigh firing Fed Governor Lisa Cook
What's next: Cook is ordered to appear at a Nov. 5 White House hearing before the panel recommends whether she should be removed.
President Donald Trump set up a three-member committee to examine allegations that Federal Reserve Gov. Lisa Cook made false statements on mortgage applications, escalating his bid to remove her from the central bank. A White House memo says Cook must appear at a closed Nov. 5 hearing, with a transcript to be released later, and may submit follow-up materials by Nov. 10 before the panel advises Trump on whether cause exists for dismissal. The committee includes Kevin Hassett, Keith Sonderling and Andrea Lucas, all Trump appointees. Cook denies wrongdoing. Her lawyers, Abbe Lowell and Norm Eisen, questioned whether the process is lawful but said she wants a chance to clear her name.