DLLR Secretary Congratulates Sarah Bloom Raskin on Fed Nomination


(BALTIMORE, 4/29/10) --- Alexander M. Sanchez, Secretary of Labor, Licensing and Regulation, hailed the Obama Administration's nomination today of Sarah Bloom Raskin, DLLR's Commissioner of Financial Regulation, to a seat on the Federal Reserve Board of Governors.

"This is a great day for Sarah and for Maryland," Secretary Sanchez said. "This nomination recognizes that Sarah has an unparalleled record of achievement as a financial regulator."

"She oversaw a massive effort in the Office of the Commissioner to begin licensing mortgage brokers and has worked closely with federal prosecutors to crack down on foreclosure rescue scams that preyed on Maryland residents. Most recently, her testimony in the General Assembly was pivotal in helping pass a bill that prevents payday lending from returning to our State."

"We wish Sarah a speedy confirmation so she can add her perspectives and talents to the Federal Reserve's critical mission."