{"id":1549,"date":"2017-02-14T20:16:42","date_gmt":"2017-02-14T20:16:42","guid":{"rendered":"https:\/\/nationalfairhousing.org\/statement-on-senate-confirmation-of-steven-mnuchin-for-treasury-secretary\/"},"modified":"2017-02-14T20:16:42","modified_gmt":"2017-02-14T20:16:42","slug":"statement-on-senate-confirmation-of-steven-mnuchin-for-treasury-secretary","status":"publish","type":"post","link":"https:\/\/nationalfairhousing.org\/statement-on-senate-confirmation-of-steven-mnuchin-for-treasury-secretary\/","title":{"rendered":"STATEMENT ON SENATE CONFIRMATION OF STEVEN MNUCHIN FOR TREASURY SECRETARY"},"content":{"rendered":"<div class=\"textLayer\">\n<div data-canvas-width=\"205.00847058823524\">\n<p>February 14, 2017<\/p>\n<p><strong>STATEMENT ON SENATE CONFIRMATION OF STEVEN MNUCHIN FOR TREASURY SECRETARY<\/strong><br \/>\n<strong><em>Trump Fails to Keep His Promise to the American People<\/em><\/strong><\/p>\n<\/div>\n<\/div>\n<div style=\"text-align: center;\" data-canvas-width=\"89.838\"><\/div>\n<div style=\"text-align: left;\" data-canvas-width=\"89.838\">\n<p>&nbsp;<\/p>\n<p>Washington, DC \u2013 Shanna Smith, President &amp; CEO of the National Fair Housing Alliance, released the following statement regarding the Senate\u2019s confirmation of Steven Mnuchin to be the Secretary of the U.S. Department of the Treasury: \u201cIt is clear that, when President Trump pledged to the American people that he would \u2018drain the swamp\u2019 during his campaign, he wasn\u2019t serious at all. Instead, he has loaded his cabinet with Wall Street moguls and by confirming Steve Mnuchin, the Senate again has failed to hold Trump to his promise. Trump promised to \u2018drain the swamp\u2019 because it was politically expedient at the time and, in his own words, the phrase was \u2018trending all over the world.\u2019 Trump curried favor and gained a degree of popularity by promising to give the American people what they wanted \u2013 a new administration that would not be beholden to Wall Street.<\/p>\n<p>But selecting the nation\u2019s top financial leader is not a popularity contest. The Treasury Secretary will make critically important decisions that impact the life of every single person living in this country. Those decisions include whether or not there will be a future for the 30-year fixed rate prime mortgage and whether our country will roll back hard-won consumer protections against discriminatory and abusive lending practices.<\/p>\n<p>Mnuchin has tipped his hand on how he will weigh in on these important issues. During his confirmation process, he misled Congress about his bank\u2019s robo-signing activities, declaring that OneWest Bank did not \u2018robo-sign\u2019 documents. The Office of Thrift Supervision found otherwise. Mnuchin also showed a profound misunderstanding of the causes of the financial crisis during his confirmation hearing when he mischaracterized \u2018affordable housing loans\u2019 as \u2018subprime loans\u2019 and blamed the crash on the GSEs\u2019 affordable housing goals. The evidence shows that the crisis was caused by lenders who originated toxic loans that brought them higher profits \u2013 no matter the harm these loans caused to homeowners and communities. Mnuchin also asserted that his lending companies did not engage in discriminatory practices, ignoring fair lending complaints filed against the banks.<\/p>\n<p>We need a Treasury Secretary whose instincts are to protect consumers from discriminatory and abusive practices. Nothing in Mnuchin\u2019s background indicates that he will do this. The National Fair Housing Alliance will push Mnuchin to support our nation\u2019s civil rights and consumer protection laws, maintain and improve the structure that sustains the 30- year fixed rate, fully amortizing mortgage \u2013 a product that has enabled millions of Americans to gain a foothold in the middle class, and move our economy to a more equitable and just system.\u201d<\/p>\n<p><strong>The National Fair Housing Alliance<\/strong><\/p>\n<p><em>Founded in 1988, the National Fair Housing Alliance is a consortium of more than 220 private, non-profit fair housing organizations, state and local civil rights agencies, and individuals from throughout the United States. Headquartered in Washington, D.C., the National Fair Housing Alliance, through comprehensive education, advocacy and enforcement programs, provides equal access to apartments, houses, mortgage loans and insurance policies for all residents of the nation. <\/em><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>February 14, 2017 STATEMENT ON SENATE CONFIRMATION OF STEVEN MNUCHIN FOR TREASURY SECRETARY Trump Fails to Keep His Promise to the American People &nbsp; Washington, DC \u2013 Shanna Smith, President &amp; CEO of the National Fair Housing Alliance, released the following statement regarding the Senate\u2019s confirmation of Steven Mnuchin to be the Secretary of the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[33,34,2],"tags":[],"class_list":["post-1549","post","type-post","status-publish","format-standard","hentry","category-news-media","category-nfha-news","category-press-releases"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>STATEMENT ON SENATE CONFIRMATION OF STEVEN MNUCHIN FOR TREASURY SECRETARY - NFHA<\/title>\n<meta name=\"description\" content=\"February 14, 2017 STATEMENT ON SENATE CONFIRMATION OF STEVEN MNUCHIN FOR TREASURY SECRETARY Trump Fails to Keep His Promise to the American People &nbsp; 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