MAMB News > New Commissioner of Financial Regulation Named

Sarah Bloom Raskin Announced as New Commissioner of Financial Regulation

An announcement from Thomas E. Perez,Secretary, Maryland Department of Labor, Licensing and Regulation

Charles Turnbaugh, Commissioner of Financial Regulation, is retiring from state service. Charles' last day in the office is August 3. I want to thank Charles for his service and leadership as Commissioner and wish him well in his future endeavors.

While Charles leaves some big shoes to fill, I am pleased to announce Sarah Bloom Raskin will join the Department of Labor, Licensing and Regulation (DLLR) as Commissioner of Financial Regulation on August 28. Sarah's extensive experience with banking issues and advocacy for consumer rights and protections makes her exceptionally qualified for this position.

The Office of Financial Regulation, including Administration, Licensing and Consumer Services, Compliance, Bank Corporate Structure, Regulatory Policy and Enforcement, plays a critical role in protecting Marylanders. Sarah's wealth of knowledge and experience in all facets of the job will ensure Marylanders continue to receive a high level of protection.

In Sarah's current capacity as Managing Director of Promontory Financial Group, she works with banks and other financial institutions on a wide range of regulatory, governance, ethics, consumer and other concerns. In effect, she serves as a "bank doctor" working with domestic and international institutions on preventive maintenance, responding to problems and helping institutions establish charters in states. 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.

I am thrilled Sarah is bringing her vast experience and passion to our department and look forward to Sarah joining the DLLR team.

MAMB would like to thank it's Gold Partners in Education for their continued support:

MAMB would like to thank it's Gold Partners in Education for their continued support:

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