New Commissioner of Financial Regulation Named


Bank/Financial Institution Management Expert to Lead Regulatory Division

BALTIMORE - Maryland Department of Labor, Licensing and Regulation Secretary Thomas Perez is pleased to announce the appointment of Sarah Bloom Raskin as Commissioner of Financial Regulation, effective August 28, 2007. Ms. Bloom Raskin's extensive experience with banking issues and advocacy for consumer rights and protections will ensure Marylanders continue to receive a high level of protection from the Office of Financial Regulation.

"Sarah is bringing her vast experience and passion as a 'bank doctor,' working with domestic and international institutions on preventive maintenance, responding to problems and helping institutions establish charters in states, to the department," said Secretary Perez. "I look forward to Sarah joining the DLLR team and continuing the tradition of professionalism and excellence established by retiring Commissioner Turnbaugh."

Ms. Bloom Raskin currently serves as managing director of Promontory Financial Group where she works with banks and other financial institutions on a wide range of regulatory, governance, ethics, consumer and other issues. In addition, she served as counsel to the US Senate Committee on Banking, Housing and Urban Affairs, where she handled a wide range of banking and consumer protection issues for former Senator Paul Sarbanes. She also served as a member of the Consumer Council of the Maryland Attorney General under former Attorney General Joe Curran.

Sarah graduated Magna cum Laude in Economics from Amherst College and has a Juris Doctor from Harvard Law School. Sarah lives in Takoma Park with her husband Jamie and their three children.

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Department of Labor, Licensing and Regulation Press Release