Trump Treasury Pick Ran OneWest During California Probe

The transcript discusses a memo from the California Attorney General's Office, which recommended suing OneWest Bank over alleged foreclosure malpractices. Despite evidence of backdating documents and manipulating foreclosure sales, Kamala Harris, then Attorney General, chose not to pursue the case. The video also covers the history of OneWest Bank, led by Steven Mnuchin, and its involvement in subprime lending. The political implications of these events are considered, particularly in relation to Mnuchin's confirmation process as a cabinet member.

What was the main accusation against OneWest Bank in the memo from the California Attorney General's Office?

• Fraudulent loan approvals

• Insider trading

• Money laundering activities

• Backdating documents and manipulating foreclosure auctions

Who acquired OneWest Bank in 2009, and what was the bank's status at that time?

• Donald Trump; a successful bank

• Steven Mnuchin; a successful bank

• Kamala Harris; a failed bank

• Steven Mnuchin; a failed bank

What was OneWest Bank known for during the subprime era?

• Issuing credit cards

• Providing student loans

• Specializing in adjustable rate mortgages

• Offering high-interest savings accounts

What legal steps must a bank follow before foreclosing on a property?

• Notify the homeowner and allow time to cure the default

• Sell the property without notice

• Immediately change the locks and remove belongings

• Transfer the mortgage to another bank

How might the allegations against OneWest Bank affect Steven Mnuchin's confirmation process?

• They will ensure unanimous approval

• They might cause contention among Democrats

• They could lead to bipartisan support

• They will have no impact