After an effort to purge lobbyists from his quickly arranged transition team, President-elect Donald Trump, who campaigned on a “drain the swamp” message, is set to promote another swamp-dweller to a high-ranking position in his administration.
Trump is set to announce that Steven Mnuchin will be his Treasury secretary, per a recommendation from his own transition team, the Associated Press reports.
Mnuchin served as Trump’s national finance chairman during the campaign after a long history in private investment banking and on Wall Street.
Prior to joining the team, Mnuchin worked at Goldman Sachs for 17 years and OneWest Bank, which got into hot water for a series of attempted home foreclosures after the 2008 housing bubble burst.
He also founded RatPac-Dune Entertainment, a movie-production company that bankrolled Avatar, as well as other films. After OneWest was sold to CIT Group in 2015, Mnuchin went on to serve on its board and became the chairman and chief executive of the private investment firm Dune Capital Management.
During his tenure at OneWest, the bank was responsible for attempting to remove families from their homes against the families’ wills.
A New York judge erased $525,000 in mortgage debt owed by a Long Island couple to OneWest Bank in 2009 because the institution was harassing them. Suffolk County Judge Jeffrey Spinner blasted the bank’s “harsh, repugnant and repulsive” acts as they attempted to toss the family out on the street around Thanksgiving.