FHLBB General Counsel Raiden Resigns Post
Norman Raiden, general counsel of the Federal Home Loan Bank Board, has resigned, effective Dec. 20.
Raiden, a former partner in the Los Angeles-based law firm of McKenna, Conner & Cuneo, has served for two years at the FHLBB, which regulates the nation’s savings and loan industry.
His resignation comes as FHLBB Chairman Edwin J. Gray is reportedly facing pressure from the Reagan Administration to resign. But Raiden said Monday that his resignation was not connected to any purported attempt to oust Gray.
Raiden is generally recognized as one of the more influential general counsels in shaping the conservative FHLBB policy in recent years.
“I came here to (the FHLBB) originally to serve one year, and I have served two years. It’s time to leave,” he said after a session at the annual convention of the U.S. League of Savings Institutions, the nation’s largest trade association for savings and loans.
Raiden said he has not accepted a new job in the private sector.
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