Trump Treasury Nominee Mnuchin Declines To Answer Senator’s Questions, Was Accused Of "Widespread Misconduct"
By Tyler Durden
The confirmation of former Goldman Sachs Partner Steven Munchin, who is Trump’s pick for Treasury Secretary, may have gotten just a little more problematic today, after Mnuchin declined to answer questions from Democratic senator Sherrod Brown of Ohio about his views on financial regulations, sanctions and his time as head of a bank accused of unfair foreclosure practices.
Brown, the top Democratic on the senate banking committee sent a letter on Dec. 21 asking Mnuchin to detail his position by Jan. 6 on issues that are under the committee’s purview, including fair lending laws and foreclosure-prevention programs. As Bloomberg reports, Mnuchin doesn’t plan to respond to the senator in writing, though several weeks ago he requested a meeting with Brown, who hasn’t yet accepted, according to Mnuchin’s spokeswoman Tara Bradshaw.
“Mnuchin will work with Senator Brown within the protocol of the finance committee – and will not be providing written answers in advance of a deadline yet to be established by the finance committee,” Bradshaw told Bloomberg on Tuesday in an e-mailed reply to questions.
Naturally, Brown was displeased by the very public snub by the former Goldmanite: “Senator Brown wants to have a substantive, productive conversation with Mr. Mnuchin, not just a quick handshake and hello,” according to an e-mailed comment from Brown’s office on Tuesday. Should Mnuchin, 54, further antagonize Brown, he may face daunting complications during his public hearing with the Senate Finance Committee members; he will also have to respond to follow-up questions in writing before they vote on his nomination. Brown also sits on that committee.
As Bloomberg notes, while Mnuchin can count on the support of the Republican majority in the Senate for confirmation, Democrats have signaled a tough fight. The former Goldman partner profited from the 2007-2008 housing market crash when he and a group of investors bought a failed mortgage lender that was later renamed OneWest Bank. It’s being investigated over allegations of unfair foreclosure practices.
Incidentally, it is Mnuchin’s actions at One West which are likely to be an incendiary topic during the confirmation hearing especially after today’s Intercept report, in which a leaked memo penned by the leaders of California’s state attorney general’s Consumer Law Section said they had “uncovered evidence suggestive of widespread misconduct” in a year-long investigation into Mnuchin’s One West Bank.
Some more details:
OneWest Bank, which Donald Trump’s nominee for treasury secretary, Steven Mnuchin, ran from 2009 to 2015, repeatedly broke California’s foreclosure laws during that period, according to a previously undisclosed 2013 memo from top prosecutors in the state attorney general’s office.
The memo obtained by The Intercept alleges that OneWest rushed delinquent homeowners out of their homes by violating notice and waiting period statutes, illegally backdated key documents, and effectively gamed foreclosure auctions.
In the memo, the leaders of the state attorney general’s Consumer Law Section said they had “uncovered evidence suggestive of widespread misconduct” in a yearlong investigation. In a detailed 22-page request, they identified over a thousand legal violations in the small subsection of OneWest loans …read more
100% Pure Garcinia Cambogia Extract – Appetite Suppressant – Carb Blocker Capsules – 2100 MG – 90 Caps
Looking for something special ? Find The Lowest Price HERE Posted January 4th, 2017 in Uncategorized.
