Written by the Board of Governors of the Federal Reserve System. Raskin on Tuesday withdrew her nomination to a key Fed banking role. This included reforming through legislation regulation examination and supervision the foreclosure process combating foreclosure rescue and loan modification scams and elevating licensing, lending, and servicing standards. Sarah Bloom Raskin speaks during her confirmation hearing at the Senate Banking Committee on Feb. Under her leadership, the commissioner’s office played an early and multifaceted role in the state’s response to the financial crisis. In this capacity, Raskin and her agency were responsible for regulating an array of interconnected financial institutions, including banks, credit unions, mortgage lenders, mortgage servicers, and trust companies, among others. She also served as the banking counsel for the US Senate Committee on Banking, Housing, and Urban Affairs.īefore her appointment to the Board of Governors, Raskin was the commissioner of financial regulation for the State of Maryland. A member of the Democratic Party, Bloom Raskin previously served as a member of the Federal Reserve Board of Governors from 2010 to 2014. She was later managing director at the Promontory Financial Group. Sarah Bloom Raskin is an American attorney and regulator who served as the 13th United States Deputy Secretary of the Treasury from 2014 to 2017. Early in her career, she worked at the Federal Reserve Bank of New York and the Joint Economic Committee of the Congress. Raskin received a bachelor’s degree in economics (magna cum laude) from Amherst College and earned a law degree from Harvard Law School.ĭuring her career, Raskin has served both the public and private sectors. Sarah Bloom Raskin took office as a member of the Board of Governors on October 4, 2010, to fill an unexpired term ending January 31, 2016.
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