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Senate Confirms Steven Mnuchin As Treasury Secretary

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WASHINGTON (CBSMiami/AP) — The U.S. Senate confirmed Steven Mnuchin as treasury secretary Monday.

The confirmation came 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.

(TM and © Copyright 2017 CBS Radio Inc. and its relevant subsidiaries. CBS RADIO and EYE Logo TM and Copyright 2017 CBS Broadcasting Inc. Used under license. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. The Associated Press contributed to this report.)

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