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  • NICHOLAS KAMM/AFP/Getty Images(WASHINGTON) -- Incoming first lady Melania Trump channeled another first lady Friday with her choice of Inauguration Day fashion.Trump, 46, was spotted entering St. John’s Episcopal Church alongside her husband, Donald Trump, wearing a sky-blue dress with a structured shrug and matching gloves.She also wore her hair pulled back in a styled bun.The look was reminiscent of former first lady Jacqueline Kennedy Onassis, who was well-known for her classic style.Melania Trump’s dress was a custom design by American designer Ralph Lauren.“We walked into today with a lot of speculation of different designers she would wear and Ralph Lauren was definitely at the top of the list, but there were also several European designers,” Joe Zee, editor-in-chief of Yahoo Style, said Friday on ABC News' Good Morning America. “I think it would have been a big mistake for her to appear for the first time at the inauguration in a non-American designer.“I think to wear one of the biggest [designers] in the country was a really big coup,” he said.Trump's Inaugural Day outfit included a Ralph Lauren Collection cashmere cropped cutaway jacket, cashmere mock turtleneck dress, suede gloves and suede clutch, a Ralph Lauren spokesperson confirmed to ABC News.The choice by Trump to wear a Lauren-designed dress on Inauguration Day comes as some designers have spoken publicly about being conflicted over whether to dress the incoming first lady. Michelle Obama was a darling of the fashion world, stepping out in bold styles and boosting the careers of young designers, but some designers have been wary to dress his wife due to their feelings about Donald Trump.“This is a very interesting inauguration because for the first time with any first lady, designers are very divided,” Zee said. “We’re walking into today with a whole list of designers who refuse to dress the first lady and a list of designers who are proud to.”“I think Ralph Lauren was one of the first American designers to step up and say that he would [dress Trump],” he said.Lauren, a New York native like Donald Trump, also designed the Italian-made silk crepe jumpsuit that Melania Trump wore on election night.The jumpsuit, which retails at upscale Fifth Avenue department store Bergdorf Goodman for about $4,000, grabbed attention because of its fashion-forward silhouette, a one-shoulder neckline and a half sleeve at the left side.Trump wore a floor-length, long-sleeve gold gown to an Inauguration Day-eve dinner Thursday night held at Union Station in Washington, D.C.
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  • KENA BETANCUR/AFP/Getty Images(WASHINGTON) -- Steven Mnuchin, President-elect Donald Trump’s nominee for Treasury secretary, began his Senate confirmation hearing by defending his role in the thousands of foreclosures by Independent National Mortgage Corporation, also referred to as "IndyMac.""In the press, it has been said that I ran a ‘foreclosure machine,’” Mnuchin told the Senate Finance Committee.He insisted that he made efforts to keep people in their homes by providing 100,000 loan modifications.“I felt great empathy for the thousands of Americans who lost their home because of a system that failed them,” Mnuchin stated.
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  • ABC News(NEW YORK) -- Meet Tim Ferriss, who's known as the "four-hour guy"It all started in 2007 with his first book, The 4-Hour Workweek, which landed the No. 1 spot on the New York Times, Wall Street Journal and BusinessWeek best-seller lists. It stayed consecutively on the New York Times best-seller list for more than four years and has been translated into 35 languages, with nearly two million copies sold worldwide. His other books, The 4-Hour Body, The 4-Hour Chef and Tools of Titans have also sold millions of copies.He’s been described as “this generation’s self-help guru” by The New Yorker and the “Oprah of Audio” for his podcast, which has more than 80 million downloads. There is even a publicly recognized “Tim Ferriss effect,” first cited in a 2012 Forbes profile, that notes how a mention on his blog or podcast will incur tens of thousands more sales for a product than any typical media promotion.He’s also an angel investor whose portfolio boasts companies like Uber, Facebook, Twitter and many more.So how does someone famous for giving advice to others make his own decisions?During an interview on "Real Biz With Rebecca Jarvis," Ferriss told ABC’s Chief Business, Technology and Economics Correspondent Rebecca Jarvis how he methodically breaks down large decisions using a simple, three-column system.“I just take a piece of paper and I put what I’m considering doing,” Ferriss said. “And you write down all of the worst things that could happen in the left-hand side, just bullets. In the middle for each of those bullets, what you can do to mitigate or minimize the likelihood of them happening. And then the very last column for each, what you can do to get back to where you are now.”The first two columns are a straightforward breakdown of theoretical "worst-case-scenarios" and their possible preventions or solutions. But the third column is noteworthy because it can provide comfort by showing that even if you fail, you can still land right back where you started.“We very often look at the risks of action or the potential downside of action, and that’s the only analysis we do,” said Ferriss. “But it’s really important to look at the costs of inaction. So OK, let’s say you don’t do this thing, let’s telescope out six months, a year, three years. What does your life look like? Is it better or worse?”Ferriss used this exact method in 2004 when he decided to book a one-way ticket to Europe after having what he called a “complete meltdown.” Fast-forward more than a decade later, and it appears to still be working for him.“I still do [it] very often,” he said.
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  • EDUARDO MUNOZ ALVAREZ/AFP/Getty Images(WASHINGTON) -- Critics are gearing up for a confirmation fight Thursday over Steven Mnuchin -- Donald Trump’s pick for treasury secretary -- who previously ran a bank that has faced criticism over its foreclosure record.Mnuchin, a Goldman Sachs veteran and former Hollywood producer, and a group of investors bought up the remains of the failed IndyMac Bank in 2009, renaming it OneWest Bank, during the financial crisis.Although he rebuilt the bank into a thriving operation, Mnuchin's bank has been accused by housing advocates of seeking to kick people out of their homes quickly and discriminating against minorities.Senate Democrats who oppose his nomination have been soliciting personal stories from people who say they were victimized by OneWest’s practices ahead of Mnuchin’s hearing.California-based IndyMac Federal Bank, which was a leading subprime lender, failed in July 2008 and control was transferred to the Federal Deposit Insurance Corporation.Mnuchin led a group of investors and bought most of the bank’s assets at an auction held by the FDIC for about $1.3 billion in cash. The FDIC agreed to cover almost all the loan losses from soured mortgages and the lender was renamed OneWest, which soon became profitable again.By August 2015, Mnuchin and his partners sold the bank for around $3.4 billion in cash and stock to CIT Group Inc.Since the FDIC, which supervises banks, agreed to absorb the costs on the majority of the losses on the bad loans, some have questioned whether Mnuchin made money off the housing calamity, which devastated many communities, including in California.During Mnuchin’s time overseeing OneWest, the bank carried out 36,000 foreclosures in California, according to the California Reinvestment Coalition, an advocacy group.The CRC based its information on data collected by PropertyRadar, a company which specializes in foreclosure data, and analysis from the Urban Strategies Council, an Oakland-based activist group.The CRC also claims, based on analysis from a freedom of information request to the FDIC, that the bank had completed enough foreclosures as of 2014 to garner some $1 billion in loss share payments from the FDIC, relating to losses concerning IndyMac and another bank it had partially aquired."Mr. Mnuchin’s nomination and his track record... make[s] it clear, the fox has been nominated to guard the henhouse," said Paulina Gonzalez, executive director of the California Reinvestment Coalition.The California Reinvestment Coalition, along with another advocacy group called Fair Housing Advocates of Northern California, filed a federal discrimination complaint with the Department of Housing and Urban Development against OneWest in mid-November, more than a week and a half before Mnuchin was announced as Trump’s Treasury pick.The complaint alleges that OneWest violated the Fair Housing Act by allegedly failing to open branches near communities of color and offering few mortgage loans to minority applicants. The complaint cites instances of alleged violations as early as 2011 but the investigation that prompted the debate started in April 2014 and carried through 2016. No bank officials -- including Mnuchin -- are specifically named in the complaint but he did not sell the bank until August 2015 so the issues would have allegedly taken place partially during his tenure.Sean Coffey, the communications manager for the CRC, told ABC News that they have not yet heard if HUD has accepted the complaint.When a spokesman for CIT Group, which now owns OneWest, was asked to comment on the allegations made by the CRC and on the status of the complaint, he responded with the following statement.“CIT completed the acquisition of OneWest Bank in August 2015. Since that time, CIT has and continues to remain committed to meeting the credit and banking needs of borrowers in our communities,” Matt Klein, director of communications and
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  • American Airlines(NEW YORK) -- American Airlines has joined other carriers in offering customers "Basic Economy" fares.In a press release Wednesday, the airline said the new, lower fares will be available starting Feb. 10 in select markets and expanding to other markets later in the year."American Airlines now has something to offer every customer, from those who want simple, low-price travel to those who want an ultra-premium experience via First Class," American Airlines President Robert Isom said in a statement. "Importantly, this new fare product also gives American the ability to compete more effectively with the growing number of ultra low-cost carriers."With "Basic Economy" fares, customers can expect the same in-flight experience -- free drinks, snacks and free entertainment options -- as all other passengers in the main cabin. However, they will not get their seat assignments until they check in and they will be among the last boarding group.Customers will also not be allowed to stow a carry-on item in the overhead bin without incurring a cost, and they will no be able to upgrade, refund or change their tickets.
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