President Donald Trump has created a White House committee to look into claims that Federal Reserve Governor Lisa Cook lied on mortgage papers, his latest step toward firing her.

The panel has three members, all picked by Trump: Kevin Hassett, director of the National Economic Council; Keith Sonderling, the Labor secretary who is also acting head of the Office of Government Ethics; and Andrea Lucas, chair of the Equal Employment Opportunity Commission, CNBC reported.

It will hold an in-person hearing at the White House on November 5. The hearing will be closed to the public but written down, CBS News reported. Cook can bring a lawyer, offer evidence and have until November 10 to follow up. Justice Department lawyers may question her. The panel will then tell Trump whether there is "cause" to remove her. He makes the final call.

Cook's lawyers, Abbe Lowell and Norm Eisen, said she "welcomes the opportunity to present the facts so she can clear her name." But they said they have "grave doubts" the hearing is legitimate, because Trump has said he already decided to fire her.

The fight goes back to last year. A Trump official, Bill Pulte, accused Cook of making false statements on mortgages for two homes before she joined the Fed. Trump tried to fire her. In June, the Supreme Court ruled 5-4 that she could stay, because she had not been given notice and a chance to answer the charges, as the law requires.

The Washington Examiner called the panel an escalation after that defeat. CNBC noted a president used a similar committee once before, in 1912.

Cook is expected to vote at the Fed's next interest rate meeting on October 28. Any firing would likely go back to court.

What we know: A hearing is set for November 5, and Trump decides afterward.
What we don't: Whether the courts would accept the panel's process as fair.