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Confirmation hearing could put Mnuchin in hot seat over foreclosures

An investigation into the foreclosure practices of Mnuchin's former company is raising eyebrows
  • President-elect Donald Trump announced Steven Mnuchin, a former Goldman Sachs partner who served as chairman and CEO of OneWest Bank during the financial crisis, as his Treasury secretary pick.
  • A memo has been published that details an investigation into the foreclosure practices of OneWest.

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Steven Mnuchin Credit: Office of the President-elect Treasury Secretary nominee Steven Mnuchin could face tough questions about his reputation as a “foreclosure machine” in his upcoming confirmation hearings. That's according to news website The Intercept, which recently published a memo circulated among prosecutors in California’s attorney general office detailing an investigation into the foreclosure practices of his former company, OneWest Bank FSB. Who's Mnuchin and what's he being nominated for? President-elect Donald Trump announced Mnuchin, a former Goldman Sachs partner who served as chairman and CEO of OneWest Bank during the financial crisis, as his top pick to manage the federal government’s finances on Nov. 30. Since then, media reports have examined statements made by Mnuchin about his desire to “strip back parts of” the Dodd-Frank Act and privatize government-sponsored enterprises Fannie Mae and Freddie Mac, which are likely to be the focus of law...