Sarah Bloom Raskin

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Sarah Bloom Raskin

Former Deputy Secretary, U.S. Department of the Treasury & Governor of the Federal Reserve Board

As a Rubenstein Fellow, the Honorable Sarah Bloom Raskin works closely with the Rethinking Regulation program at Duke’s Kenan Institute for Ethics and with the Global Financial Markets Center at Duke Law School to improve the public’s understanding of markets and regulation. She is leading a research agenda that seeks to shape a new relationship between regulation and resilience in financial markets; and she is exploring opportunities to harness cyber-data and turn it into a public asset rather than a liability.

Governor Raskin also engages with students across campus by mentoring and advising students on careers in the public sector; guest lecturing in courses across the university; leading collaborative research projects including a Bass Connections project entitled How Do Cyberattacks Hurt Me?; and participating in public events.

Biography

Sarah Bloom Raskin served as the former Deputy Secretary of the U.S. Department of the Treasury, a position for which she was confirmed by the United States Senate, from March of 2014 to January of 2017. As the second-in-command of the United States Treasury, Deputy Secretary Raskin oversaw the entire Treasury Department and its various agencies and departments. Deputy Secretary Raskin is known for her tireless pursuit of innovative solutions to enhance American’s shared prosperity, the resilience of our country’s critical financial infrastructure, and the defense of consumer safeguards in the financial marketplace.

Within the United States and throughout the international community, Deputy Secretary Raskin was a champion of cybersecurity in the financial sector, helping to elevate this critical issue to C-suites and boardrooms. Her efforts, including leading the development of the G-7 Fundamental Elements of Cybersecurity for the Financial Sector, contributed to a more secure and resilient financial sector in the face of increasingly frequent and sophisticated threats.

Immediately prior to her confirmation as Deputy Secretary, Raskin served as a Governor of the Federal Reserve Board where she helped conduct the nation’s monetary policy and promote financial stability. She was confirmed to the Federal Reserve by the United State Senate on September 30, 2010 and served until March 2014. Before joining the Federal Reserve Board, Governor Raskin served as the Commissioner of Financial Regulation for the State of Maryland from 2007 to 2010. As Commissioner, she and her agency were responsible for regulating Maryland’s financial institutions, including all state-chartered depository institutions, banks, credit unions, mortgage lenders, mortgage servicers, and trust companies, among others.

Throughout her career, Governor Raskin has worked across public and private sectors in both legal and regulatory capacities. Her work has centered on financial institutions, financial market utilities, consumer protection issues, bolstered prudential standards, and resolution planning. Governor 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.

Governor Raskin has been recognized by several organizations for her public service, and has engaged with the media and myriad audiences to discuss fiscal, economic and national security issues. She has spoken for organizations and events including the National Consumer Law Center, Women in Homeland Security, the New America Foundation, the Levy Economics Institute, the National Association of Business Economics, the Private Equity Growth Capital Council, the Ditchley Foundation, the Society of Government Economists, the Mid-Winter Housing Finance Conference, the National Community Reinvestment Coalition, NeighborWorks America, several community banking groups, and numerous institutions of higher learning, among many others. Governor Raskin received her B.A. in economics from Amherst College, and she received her J.D. from Harvard Law School. She is married and has three children.

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Sarah Bloom Raskin News & Events

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31Jul, 2017

Congress Approves First Big Dodd-Frank Rollback

Wednesday, May 23, 2018

The New York Times | May 22, 2018 By Alan Rappeport and Emily Fliter A decade after the global financial crisis tipped the United States into a recession, Congress agreed on Tuesday to free thousands of small and medium-sized banks from strict rules that had been enacted as part of the 2010 Dodd-Frank law to…

31Jul, 2017

Justin Muzinich, Trump’s Pick for Treasury's No. 2, Files Ethics Pledge, Income Disclosure

Monday, April 23, 2018

The National Law Journal | April 23, 2018 By MP McQueen Former hedge fund manager Justin Muzinich, now counselor to U.S. Treasury Secretary Steven Mnuchin and the Trump administration’s pick for deputy secretary, reported receiving more than $17 million in vested stock options, capital gains income and company salary, according to a financial disclosure released by the…

31Jul, 2017

Once Used for Natural Disasters, Resilience Theory Informs Financial Regulation Debate

Thursday, April 5, 2018

Duke Today | April 3, 2018 By Colin Colter Sarah Bloom Raskin speaks at the financial regulation panel held in the Duke in DC office. With her is Lee Reiners of Duke Law and Tom Quaadman. Photo by Colin Colter Regulation cannot protect financial systems from all large market downturns, but building resilience into the system may…

31Jul, 2017

A Conversation on Gender, Development and Public Service

American University Washington College of Law, Yuma Building - YT01 - Tuesday, November 7, 2017

As part of the Law and Justice Development (LJD) Week 2017 The World Bank Law, Justice and Development Week 2017 focuses on the overarching theme Gender, Law and Development by highlighting the role of law and justice as enabler for a full and equal participation of women and men to development objectives. Our distinguished guests…

31Jul, 2017

Economic Policymaking in an Age of Financial Anxiety

University of Maryland Francis King Carey School of Law 500 W. Baltimore St. Baltimore, MD 21201 - Thursday, October 26, 2017

The University of Maryland Francis King Carey School of Law will proudly host The Norman P. Ramsey Lecture, “Economic Policymaking in an Age of Financial Anxiety,” presented by Sarah Bloom Raskin on October 26. This event is free and open to the public, but registration is required. Reception to follow. https://www.eventbrite.com/e/norman-p-ramsey-lecture-presented-by-sarah-bloom-raskin-tickets-38231161433

31Jul, 2017

Financial Regulation: From Dodd-Frank to Now

Law School 3041 - Wednesday, October 25, 2017

Please join the Global Financial Markets Center and Rethinking Regulation program at Duke for a conversation with from former Democratic Congressman Barney Frank and former Deputy Treasury Secretary, Sarah Bloom Raskin. Mr. Frank and Governor Raskin will be discussing their thoughts on the current state of financial regulation and how the finance industry has evolved post…

"This community has been for me the ideal post-Treasury, post-Federal Reserve landing pad, and my Duke colleagues have perspectives on financial regulation and cybersecurity and macroeconomic growth that freshen my own with new insights."
- Sarah Bloom Raskin, 2017-20 Rubenstein Fellow

"Governor Raskin's research on complex financial and regulatory topics, coupled with her passion for educating the public on important issues like cybersecurity, has been both influential in her field and inspiring to her students. Working directly with her has been a valuable learning experience and a true privilege."

Daniel Marcus

JD, Class of 2019

"An exemplary public servant and public intellectual, Sarah Bloom Raskin embodies Duke’s commitment to “knowledge in the service of society” by connecting those with innovative ideas about regulatory policy to those with implementation power in regulatory practice."

Mercy DeMenno

PhD, Sanford School of Public Policy, Class of 2018

“Sarah has been a leading public official through the most challenging of economic times. She knows how to bring knowledge from diverse fields together to advance our understanding of financial markets. We are excited that our faculty, students, and the public will continue to benefit from her work here at Duke.”

David Levi

DEAN, DUKE LAW