Democratic Rep. Jamie Raskin violated a federal conflict-of-interest law by failing to properly disclose stock shares that his wife – President Biden's nominee to be the Federal Reserve's top banking regulator – received for her work at a Colorado-based financial technology company, a source familiar with the matter told FOX Business.
Lawmakers' spouses are allowed to trade in companies or industries that their partners may help regulate. But Jamie Raskin's failure to promptly disclose the shares that his wife sold marks a violation of the Stop Trading on Congressional Knowledge Act.
"We lost our son during the reporting period, and I filed the report late," the congressman told Insider. Sarah Bloom Raskin has also drawn scrutiny for her work at Reserve Trust: The nonbank fintech company is the only one of its like to have received special access to the Fed's payment system – an occurrence that happened when Sarah Bloom Raskin served as the company's director.
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