Banking Secretary Hails Nomination of State Regulator to Federal Reserve Board of Governors

HARRISBURG, Pa., April 30 /PRNewswire-USNewswire/ -- The nomination of Maryland Banking Commissioner Sarah Bloom Raskin to the Federal Reserve Board of Governors is recognition of the importance of state perspectives when forming national financial policies, according to Pennsylvania Secretary of Banking Steve Kaplan.

"I am pleased President Obama has nominated my colleague Commissioner Raskin to the Fed," stated Kaplan. "She is one of our leading advocates for consumer protection, dedicated to the soundness and integrity of the financial marketplace and certain to be an asset to the Federal Reserve Board."

The Department of Banking urges consumers to "do their homework" before entering into business with any financial company, especially those offering loan modifications or debt relief.

Consumers can learn about companies licensed or chartered by the Department of Banking at www.banking.state.pa.us or by calling 1-800-PA-BANKS.

Media contact: Ed Novak, 717-783-4721

SOURCE Pennsylvania Department of Banking