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Trump Treasury Nominee's Stint At California Bank Draws Scrutiny

Evan Vucci / AP

Steven Mnuchin, President-elect Donald Trump's nominee for Treasury Secretary, talks with reporters in the lobby of Trump Tower, Wednesday, Nov. 30, 2016, in New York.

Evan Vucci / AP

Consumer groups in California are ringing the alarm bells about Donald Trump’s pick for Treasury Secretary.

Nationally, Steven Mnunchin is most likely to be scrutinized for his nearly two decades at Goldman Sachs.
But more recently he ran Pasadena-based OneWest Bank after the financial crisis.
Just two weeks ago the California Reinvestment Coalition, a housing advocacy group, filed a federal complaint. It alleged that under Mnunchin, OneWest Bank consistently violated the Fair Housing Act -- discriminating against minorities who wanted mortgages.
The coalition also found the Bank foreclosed on more than 36,000 Californians.
“The idea that he would be named to such an important position is of grave concern," says Kevin Stein, the coalition’s Deputy Director. "His work has resulted in hardship and destabilization of communities.”
The Department of Housing and Urban Development is reviewing the complaint.
A spokesman there says the agency hasn’t even decided whether the investigation falls under HUD’s jurisdiction yet.

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