Republican Senator Urges Scrutiny of Fed Nominee Raskin’s Fintech Role
- Raskin says she’s been very mindful to follow the rules
- Raskin joined fintech firm after leaving U.S. Treasury in 2017
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A Republican senator urged her colleagues to scrutinize the role played by President Joe Biden’s nominee to be Federal Reserve vice chair for supervision when she was a director of a financial-technology company that subsequently gained access to the central bank’s payments system.
Wyoming Republican Cynthia Lummis, during a confirmation hearing before the Senate Banking Committee Thursday, confronted Sarah Bloom Raskin over what she’d done on behalf of fintech firm Reserve Trust when she was on its board of directors between 2017 and 2019.