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Trump Treasury pick is just another creature in the swamp! But Trump likes him!
That success is coming back to haunt the hedge fund manager and Hollywood producer who is Trump’s choice for Treasury secretary. OneWest, a bank Mnuchin and his partners established during the collapse, has taken steady fire from regulators and consumer advocates for myriad failures ever since.
In Florida, the company foreclosed on a 90-year-old woman after a 27-cent payment error. New York Gov. Andrew Cuomo singled out the lender for squeezing Superstorm Sandy victims. Last month, the company’s successor, CIT Bank, was accused of discriminating against minority borrowers.
“We’re just coming out of a foreclosure crisis and a serious economic downturn. It’s not the time to appoint someone who sided with corporate America over real people,” said Alys Cohen, an attorney with the National Consumer Law Center. “Mr. Mnuchin comes from Wall Street and has served monied interests over homeowners.”
In Florida, the company foreclosed on a 90-year-old woman after a 27-cent payment error. New York Gov. Andrew Cuomo singled out the lender for squeezing Superstorm Sandy victims. Last month, the company’s successor, CIT Bank, was accused of discriminating against minority borrowers.
“We’re just coming out of a foreclosure crisis and a serious economic downturn. It’s not the time to appoint someone who sided with corporate America over real people,” said Alys Cohen, an attorney with the National Consumer Law Center. “Mr. Mnuchin comes from Wall Street and has served monied interests over homeowners.”
http://www.politico.com/story/2016/12/trump-treasury-foreclosed-homes-mnuchin-232038
Donald Trump wasn’t the only person to see opportunity in the 2008 housing collapse. As the economy recovered from the rubble of failed banks, foreclosed homes and government bailouts, Steven Mnuchin emerged a winner.
