US Senate confirms Steven Mnuchin as treasury secretary

Steven Mnuchin testifies before a Senate Finance Committee confirmation hearing on his nomination to be Treasury secretary in Washington, US, January 19, 2017. [Photo/Agencies]

WASHINGTON - Steven Mnuchin, a former banker, was confirmed on Monday by US Senate as Treasury Secretary.

Mnuchin won in a 53-47 Senate vote in which only one Democrat, Senator Joe Manchin of West Virginia, voted in favor, and the rest supports are all from Republicans.

The confirmation is expected to help President Donald Trump's administration to push ahead with its goals to dismantle financial regulations and slash taxes.

Mnuchin, 54, was Trump's top fund-raiser during the presidential campaign.

The US Senate Finance Committee once postponed votes on him out of concerns that the treasury secretary pick may give false testimony on foreclosure practice by OneWest Bank, of which Mnuchin was former chairman.