Wednesday, January 4, 2017

‘Widespread misconduct’ at bank run by Steve Mnuchin

At NYPOST by Kevin Dugan  --

California’s attorney general “uncovered evidence suggestive of widespread misconduct” at OneWest, the bank run by President-elect Donald Trump’s pick for Treasury secretary, Steve Mnuchin — but never brought a suit against the company, according to a report.

OneWest, which Mnuchin controlled from 2009 to 2015, has been the target of housing advocates for foreclosing on as many as 36,000 homes in California in the wake of the financial crisis.

The California investigation, which hasn’t been previously disclosed, claims that OneWest pushed people out of their homes by backdating hundreds of documents and gaming auctions, and “performed acts in the foreclosure process without valid legal authority,” according to a draft civil suit obtained by The Intercept.

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