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. She resigned on March 13, 2014.
Raskin received a bachelor’s degree in economics (magna cum laude) from Amherst College and earned a law degree from Harvard Law School.
During her career, Raskin has served both the public and private sectors. Early in her career, she worked at the Federal Reserve Bank of New York and the Joint Economic Committee of the Congress. She was later managing director at the Promontory Financial Group. She also served as the banking counsel for the US Senate Committee on Banking, Housing, and Urban Affairs.
Before her appointment to the Board of Governors, Raskin was the commissioner of financial regulation for the State of Maryland. 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. Under her leadership, the commissioner’s office played an early and multifaceted role in the state’s response to the financial crisis. 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.
Written by the Board of Governors of the Federal Reserve System. See disclaimer.