Steven Mnuchin rejects accusations that he was a 'foreclosure machine'

(Image credit: JIM WATSON/AFP/Getty Images)

President-elect Donald Trump's treasury secretary nominee, Steven Mnuchin, defended his controversial record Thursday by slamming the press for "maligning" him and painting him as a villain.

"In the press it has been said that I ran a 'foreclosure machine,'" Mnuchin said. "This is not an accurate description of my role at OneWest Bank. On the contrary, I was committed to loan modification intended to stop foreclosures. I ran a loan modification machine."

Mnuchin, a former Goldman Sachs partner, faces fierce scrutiny from Democrats with questions focusing on his time at OneWest Bank, which is accused of employing merciless foreclosure tactics during the housing crisis. Mnuchin has also encountered trouble with his financial paperwork, admitting in a revised questionnaire that he is the director of an investment fund based in the Cayman Islands and that he forgot to disclose over $900,000 worth of artwork held by his children.

The Week

Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

SUBSCRIBE & SAVE

https://cdn.mos.cms.futurecdn.net/flexiimages/jacafc5zvs1692883516.jpg

Sign up for The Week's Free Newsletters

From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.

Watch his full opening statement at CBS News here.

Explore More

Jeva Lange was the executive editor at TheWeek.com. She formerly served as The Week's deputy editor and culture critic. She is also a contributor to Screen Slate, and her writing has appeared in The New York Daily News, The Awl, Vice, and Gothamist, among other publications. Jeva lives in New York City. Follow her on Twitter.