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- But in one of his final acts as President Trump’s Treasury secretary, Mr. Mnuchin moved last month to pull the plug on five of the programs and claw back the bulk of the money invested in them, saying he was following congressional intent and the law forced his hand — which several outside lawyers dispute.
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Mar 8, 2024 · Add to myFT. How Steven Mnuchin pulled off a $1bn deal to steady a teetering US bank. Trump’s former Treasury secretary has seized a chance to replicate his lucrative IndyMac deal. It was clear...
- Allegations Made Against Mnuchin and Onewest
- Prepping For A Contentious Hearing
- Hearing from Mnuchin
California-based IndyMac Federal Bank, which was a leading subprime lender, failed in July 2008 and control was transferred to the Federal Deposit Insurance Corporation. Mnuchin led a group of investors and bought most of the bank’s assets at an auction held by the FDIC for about $1.3 billion in cash. The FDIC agreed to cover almost all the loan lo...
Senate Democrats who oppose Mnuchin's nomination have been public in their preparation for Mnuchin’s hearing, as they want to hear from people who claim they were hurt by OneWest. A website was set up by these Senate Democratssoliciting stories from Americans who, as these Democrats say, were "impacted by the 'Foreclosure King' Steve Mnuchin." The ...
Mnuchin has been largely silent since he released a statement accepting his nomination from Trump, and is scheduled to air his views at the hearing today. He did release a statement Tuesday, however, after receiving a letter of support from Faith Schwartz, the former executive director of Hope Now, an alliance of mortgage companies, regulators, inv...
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Nov 7, 2020 · He and a group of investors struck gold during the financial crisis when they bought the failed remains of IndyMac, resurrecting it as OneWest Bank; consumer groups accused him of turning the...
Jan 19, 2017 · 01/19/2017 05:21 AM EST. During the financial crisis, mom-and-pop investors flipped houses, buying and selling dilapidated homes for a quick profit. Steven Mnuchin flipped a bank. Eight years...
Sep 29, 2020 · Steven Mnuchin’s Deal Staved Off Catastrophe. Can He Make Another One? Even many Trump critics credit his Treasury secretary with rescuing the economy from the pandemic. Will the White House...
Secretary Mnuchin has played a pivotal role in advancing the Administration’s economic agenda, including the passage and implementation of its key legislative achievement, the Tax Cuts and Jobs Act. He also leads the Treasury Department’s regulatory reform efforts.
As Secretary of the Treasury, Mnuchin supported the Trump tax cuts and the tax reform of 2017, and advocated reducing personal and corporate tax rates. [6] In regard to regulatory policy, Mnuchin supported President Trump’s partial repeal of the Dodd–Frank Act, citing the complexity of the legislation.
