Senate Finance Committee Democrats Right to Boycott Mnuchin Confirmation Vote
Mnuchin “Was Caught Willfully Misleading Senators.” — “Democrats Were Right to Boycott Today’s Confirmation Markup.”
WASHINGTON, D.C. – Today, following a boycott by Senate Finance Committee Democrats of the confirmation markup for Trump Treasury Secretary nominee Steven Mnuchin, Allied Progress released the following statement from its executive director, Karl Frisch:
“Senate Finance Committee Democrats were right to boycott today’s confirmation markup vote for Steven Mnuchin. He was caught willfully misleading senators about the foreclosure practices of his bank. Any attempt to rush his confirmation before he gets honest with senators says as much about the character of those lawmakers as Mnuchin’s conduct does about his.”
“Sen. Orrin Hatch throws his credibility out the window when he claims this boycott is unprecedented. Has he forgotten about the hearing he boycotted when Democrats were in the majority? Has he forgotten about the GOP’s boycott of Gina McCarthy’s confirmation markup for the Environmental Protection Agency when Obama was in the White House?”
“It seems Hatch and committee Republicans are perfectly happy to have Trump’s nominees lie throughout the confirmation process but think the world is coming to an end when Democrats use Senate rules to register their dissatisfaction. Each of the senators rushing to confirm Mnuchin must explain to their constituents why they didn’t press this economic predator to be honest.”
“Rather than standing up for America’s middle class, Senate Finance Committee Republican are prepared to bow down to Wall Street insiders and the financial elite. Mnuchin made hundreds of millions of dollars from his foreclosure machine of a bank. Under his leadership OneWest was accused of ‘widespread misconduct’ and a judge called its practices ‘harsh, repugnant, shocking and repulsive.’ This is the man Republicans are fighting to confirm. That should terrify us all.”
Karl Frisch is available to speak to members of the media regarding Mnuchin’s confirmation. Contact Mike Czin at 202-286-7654 or mczin@skdknick.com.
Facts Worth Noting
- Hatch Has Boycotted Hearing: Senate Finance Committee Chairman Sen. Orin Hatch boycotted hearing when Democrats were in the majority. [More]
- Senate GOP (Including Sessions) Have Boycotted Markups: Republicans, including Trump Attorney General nominee Sen. Jeff Sessions, boycotted the confirmation markup of Gina McCarthy to lead the Environmental Protection Agency under President Obama. [More]
Allied Progress on Mnuchin
Last month, Allied Progress launched Trump Transparency Project, an initiative aimed at holding the incoming administration accountable for its economic appointments and policies that will hurt America’s middle class. You can read the project’s profile on Steven Mnuchin here. The Project has spent considerable time holding Mnuchin accountable:
- Responded to Nomination with Scathing Statement (November 29): Allied Progress released statement lambasting President-elect Trump for abandoning commitment to “drain the swamp” with his nomination of Mnuchin noting the former Goldman Sachs banker’s background as a financial predator. [More]
- Launched OpposeMnuchin.org (December 2): Allied Progress launched online action calling on people to contact their senators and tell them to oppose Mnuchin’s confirmation. Thus far, thousands of Americans have already contacted their senators. [More]
- Research Dossier (December 19): Allied Progress published an extensive research dossier on Mnuchin and his disastrous record leading his foreclosure machine of a bank, OneWest. [More]
- Launched TV Ad Calling on Senators to Reject Mnuchin (January 4): Allied Progress launched six-figure television ad buys in Arizona and Nevada calling on senators to reject Mnuchin’s nomination. The ads highlighted how Mnuchin made millions from the foreclosures of thousands of family homes—including in Arizona and Nevada where the foreclosure crisis was particularly horrific. [More / View]
- Sent Direct Mailer Targeting Mnuchin Victims (January 18): Allied Progress sent mailing to more than 60,000 families in communities hit hardest during the foreclosure crisis detailing the extent of damage caused by Mnuchin’s bank in Arizona and Nevada. [More]
- Launched TV Ad Featuring Mnuchin Victim (January 18): Allied Progress launched television ad buy with allies in Arizona, Nevada, Iowa, and D.C. featuring the story of Lisa Fraser, a widow whose home was foreclosed on by Mnuchin’s bank, OneWest. [More / View]
- Called for Senate Finance Committee to Delay Confirmation Vote (January 30): Allied Progress called for the Senate Finance Committee to delay its vote recommending confirmation of Steven Mnuchin after The Columbus (OH) Dispatch showed how Mnuchin misled senators about the foreclosure practices of his bank. [More]
More About Mnuchin
Mnuchin is a longtime Wall Street insider, formerly a second-generation executive at Goldman Sachs. At the height of the Great Recession, Mnuchin purchased IndyMac, later renamed OneWest Bank. Under his leadership OneWest foreclosed on tens of thousands of homeowners with the federal government absorbing the losses while the bank made billions in profits for Mnuchin and his colleagues.
The foreclosure practices of Mnuchin’s bank were disputed and came under intense fire, with one judge finding that OneWest committed “harsh, repugnant, shocking and repulsive” acts, characterizing the bank’s conduct as “inequitable, unconscionable, vexatious and opprobrious.” In another case, OneWest attempted to foreclose on a 90-year-old woman over a payment that was short by 27 cents.
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Allied Progress is a nationwide, progressive advocacy organization that uses hard-hitting research and creative campaigns to hold Wall Street and powerful special interests accountable. Since launching in 2015, the organization has led high-profile campaigns on several issues including reforming the payday lending industry and exposing the those working to cripple the Consumer Financial Protection Bureau (CFPB).
To speak with Allied Progress about this release, please contact Charlie DiPasquale, 202-464-6916.