Inequality.org, August 5, 2019 : A California coalition takes on the foreclosure king
The California Reinvestment Coalition is holding Steven Mnuchin’s former bank accountable for the redlining that took place under his watch.
Steven Mnuchin has offered critics plenty to be upset about during his tenure as treasury secretary. But his lofty status in the Trump administration has been the natural next step for Mnuchin, a high-finance exec. widely known as the “foreclosure king” for his ruthlessness managing OneWest Bank in the wake of the financial crisis. A coalition fighting for a fair economy isn’t letting that bank off the hook for its shady practices under Mnuchin’s reign. The California Reinvestment Coalition filed a fair housing complaint against OneWest in 2016 for redlining, and they’ve just settled an agreement that will lead to millions in investments for California’s communities of color. Vijay Das, the National Policy and Communications Director for the California Reinvestment Coalition, tells us more about the agreement.
