Sarah Bloom Raskin served as the Deputy Secretary of the U.S. Department of the Treasury, a position for which she was appointed by President Barak Obama and confirmed by the United States Senate, becoming “the highest-ranking woman in the history of the Treasury Department” (NY Times). Deputy Secretary Raskin served in that capacity from March 2014 to January 2017.
As the second-in-command at Treasury, Deputy Secretary Raskin oversaw the entire Department and its various agencies, becoming widely known for her commitment to innovative solutions to enhance prosperity throughout America’s economy, for her commitment to ensure the ability of our country’s financial infrastructure to bounce back from sharp setbacks and downturns, and for her defense of consumer safeguards in the financial marketplace.
Immediately prior to her confirmation as Deputy Secretary, the Honorable Sarah Bloom Raskin served as a Governor of the Federal Reserve Board where she helped steward the nation’s monetary policy to promote financial stability. As Governor of the Federal Reserve Board, she was also a permanently voting member of the Federal Open Market Committee. She was confirmed to the Federal Reserve by the United State Senate on September 30, 2010 and served until March 2014. In her capacity of Federal Reserve Governor, Ms. Raskin was known for her deep understanding of financial regulation, housing finance and foreclosure, and consumer protection.
Before joining the Federal Reserve Board, Ms. Raskin served as the Commissioner of Financial Regulation for the State of Maryland from 2007 to 2010. As Commissioner, she led an agency responsible for regulating Maryland’s financial institutions, including all state-chartered depository institutions, banks, credit unions, mortgage lenders, mortgage service providers, and trust companies, among others.
Throughout her career, Ms. Raskin has worked across public and private sectors in both legal and regulatory capacities. Her work has centered on financial institutions, financial market utilities, and consumer protection issues. Ms. Raskin’s private sector experience includes having served as Managing Director at the Promontory Financial Group, General Counsel of the WorldWide Retail Exchange, and General Counsel of Columbia Energy Services Corporation. Earlier in her career she served as Banking Counsel for the United States Senate Committee on Banking, Housing, and Urban Affairs.