01.04.2016

Jordan Haedtler, Fed Up coalition campaign manager, released the following statement in response to the revelations that Trump Treasury Secretary nominee Steve Mnuchin and his bank OneWest were investigated for repeated violations of foreclosure law in California:

“We already knew Steve Mnuchin was the foreclosure king, forcing thousands out of their homes with practices that have been described as heartless, brutal, and callous.

Now, they may be something else: criminal. Under Mnuchin, OneWest Bank may have forced homeowners to accept foreclosures through illegal means, including knowingly altering the dates of foreclosure notices and excessively speeding up foreclosure timelines. Altogether, the scheme aimed to deprive thousands of families of their right to due process, one of the most fundamental rights we have in our country.

These charges disqualify Mnuchin from any position managing our economy. Unfortunately, Mnuchin is far from the only cabinet nominee dogged by legal and ethical concerns. The working families who comprise the Fed Up coalition simply cannot afford to have such compromised leaders running our government. We stand against Mnuchin’s nomination, and are joining with partners to demand that the Senate delay a confirmation hearing for Mnuchin until he 1) makes a full and public accounting of the settlements and lawsuits OneWest has faced for illegal behavior; 2) publicly discloses any role he may have had in obstructing investigations into wrongdoing by his companies, and; 3) gives a full response to all questions about past wrongdoing submitted by Senate Finance Committee members."

The full story outlining Mnuchin’s involvement in deceptive foreclosures can be read here: https://theintercept.com/2017/01/03/treasury-nominee-steve-mnuchins-bank-accused-of-widespread-misconduct-in-leaked-memo/

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www.thepeoplesfed.org

Fed Up is a coalition of community organizations and labor unions across the country, campaigning for the Federal Reserve to adopt pro-worker policies for the rest of us. The Fed can keep interest rates low, give the economy a fair chance to recover, and prioritize full employment and rising wages.

www.cpdaction.org 

Center for Popular Democracy Action promotes equity, opportunity, and a dynamic democracy in partnership with innovative base-building organizations, organizing networks and alliances, and progressive unions across the country. CPD Action builds the strength and capacity of democratic organizations to envision and advance a pro-worker, pro-immigrant, racial justice agenda.

Media Contact:

Anita Jain, ajain@populardemocracy.org, 347-636-9761