Steven Mnuchin

Abstract is: Steven Terner Mnuchin (/məˈnuːʃɪn/ mə-NOO-shin; born December 21, 1962) is an American investment banker and film producer who served as the 77th United States secretary of the treasury as part of the Cabinet of Donald Trump from 2017 to 2021. Serving for a full presidential term, Mnuchin was one of the few high-profile members of Trump's cabinet whom the president did not dismiss. Mnuchin was born in New York City. Upon graduating from Yale University in 1985, Mnuchin joined the investment bank Goldman Sachs where his father, Robert Mnuchin, was a general partner. Mnuchin worked at Goldman Sachs for 17 years, eventually becoming its chief information officer. After he left Goldman Sachs in 2002, he worked for and founded several hedge funds and launched Dune Entertainment, a film production company that financed several films for 20th Century Fox. Mnuchin was a member of Sears Holdings's Board of Directors from 2005 until December 2016, and prior to this, Mnuchin served on Kmart's Board of Directors. After Sears went bankrupt, the company that formerly owned it sued Mnuchin and the ex-CEO, Eddie Lampert, for "asset stripping" during their tenure. During the financial crisis of 2007–2008, Mnuchin bought the failed residential lender IndyMac. He changed the name to OneWest Bank, rebuilt it and sold it to CIT Group in 2015. During his time as the CEO and chairman, OneWest became embroiled in several lawsuits over questionable foreclosures. Mnuchin joined Trump's presidential campaign in 2016, and was named National Finance Chairman for the campaign. On February 13, 2017, Mnuchin was confirmed by the U.S. Senate as Secretary of the Treasury by a vote of 53–47. As Secretary of the Treasury, Mnuchin supported the Trump tax cuts and the tax reform of 2017 and advocated reducing personal and corporate tax rates. In regard to regulatory policy, Mnuchin supported President Trump’s partial repeal of the Dodd–Frank Act, citing the complexity of the legislation.