Treasury secretary nominee Steven Mnuchin defended his ties to offshore business entities and his management of a controversial California bank during a testy confirmation hearing on Thursday.
Speaking before the Senate Finance committee, Mnuchin said businesses in the Cayman Islands and Anguilla revealed in his financial disclosures were not used for his personal benefit but served nonprofits and pensions.
"In no way did I use [offshore entities] to avoid U.S. taxes," Mnuchin said. "I can assure you I pay all my taxes as was required."
A memo compiled by Democratic committee staffers obtained by The Washington Post showed Mnuchin initially omitted...