Speed Reads

senate confirmations

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

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.

Watch his full opening statement at CBS News here.