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It was a lucrative investment that now poses a huge hurdle for him during the confirmation process to become Treasury Secretary.
Senator Ron Wyden, the lead Democrat on the committee that will hold his confirmation hearings, told last month that Mnuchin has a “history of profiting off the victims of predatory lending.” But while the hearings might become heated, if Mnuchin has enough support from Republicans, in the end that heat won’t really matter.
About a third of those lawsuits came from homeowners who claimed that the bank improperly foreclosed on their properties.
He purchased the failed Pasadena-based bank, then known as Indy Mac, in March of 2009 and renamed it One West.As the report notes, “Sessions remains highly popular among Alabama Republicans, but his relationship with President Trump has waned since he recused himself from the investigation of the role that Russia played in last year’s campaign.” Pundits like MSNBC’s Rachel Maddow have pointed out that if Sessions were to be fired or resign from the AG’s office, Trump would then be able to appoint someone who would not recuse themselves from the Russia investigations, therefore making it easier to fire Special Counsel Robert Mueller. Casey called on Trump to issue blanket pardons to every administration official ensnared in the investigation—himself included.During the 2016 election, the conservative Wall Street Journal declined to endorse Donald Trump, recognizing the Republican candidate’s manifest personal deficiencies posed a clear and present danger to American democracy. The day after that, an editorial titled “The Manafort Indictment” acknowledged the malfeasance of Trump’s former campaign manager, but managed to single out the Democratic Party for its financing of the Fusion GPS dossier (opposition research compiled, incidentally, by former members of the Wall Street Journal).In 2011, at the peak of the housing crisis, regulators for the Treasury Department ordered Steve Mnuchin and directors at One West Bank in California to fix the bank’s questionable handling of home loans.In a consent order filed that year by the department’s Office of Thrift Supervision, regulators accused the bank of using “unsafe or unsound” methods for dealing with mortgage loans and foreclosures in 20.