Arts & Entertainment

Trump's Treasury pick resigns from MOCA board

US President-elect Donald Trump adviser Steven Mnuchin speaks to reporters at the Trump Tower in New York on November 14, 2016.
US President-elect Donald Trump adviser Steven Mnuchin speaks to reporters at the Trump Tower in New York on November 14, 2016.
JEWEL SAMAD/AFP/Getty Images

As nominee for Secretary of Treasury, businessman Steven Mnuchin will likely have his hands full. On Friday he announced that, effective immediately, he was resigning from MOCA's Board of Trustees.

Mnuchin served as as a Trustee and co-chair of the downtown's Governance and Nominating Committee.

"I have very much enjoyed my seven years on the Board at MOCA, one of the country’s most important contemporary art institutions," Mnuchin said in a prepared statement.

Mnuchin has already faced scrutiny. As chairman and CEO of Pasadena-based OneWest Bank, he presided over a bank that foreclosed on tens of thousands of Californians and, many allege, discriminated against minorities.

Founded in 1979, the Museum of Contemporary Art, Los Angeles has a permanent collection of more than 6,800 objects.