Senate Confirms Steven Mnuchin As Treasury Secretary
WASHINGTON (CBSNewYork/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.
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