Senate Confirms Steven Mnuchin as Treasury Secretary

Associated Press
Updated
By a 53-47 vote

The Senate has confirmed Steven Mnuchin as treasury secretary despite complaints by Democrats that the former banker ran a “foreclosure machine” when he headed OneWest Bank.

The vote was 53-47 Monday night.

Republicans said Mnuchin’s long tenure in finance is an ample prerequisite for the Treasury job. Mnuchin is also a former top executive at Goldman Sachs.

Democrats complained that Mnuchin made much of his fortune by foreclosing on families during the financial crisis.

Mnuchin assembled a group to buy the failed IndyMac. He renamed it OneWest and turned it around, selling it for a profit in 2014.

Mnuchin has said he had worked hard during the financial crisis to assist homeowners with refinancing so they could remain in their homes.