Norman H. Raiden, a well-known lawyer in the savings and loan industry, is returning to his former Los Angeles law firm of McKenna, Connor & Cuneo after two years as chief legal counsel to the principal U.S. regulatory agency for S&Ls, it was announced Friday.
Raiden, 53, had a stormy tenure as general counsel to the Federal Home Loan Bank Board. He announced in November that he was leaving the regulatory post.
In one case, Raiden sparked public controversy for accepting a $150,000 payment from McKenna, Connor & Cuneo after he had taken the regulatory job. A government ethics panel later cleared him of any wrongdoing.
Raiden was also harshly criticized by a congressional committee last summer for failing to disassociate himself completely from all regulatory matters relating to Beverly Hills Savings & Loan Assn., an S&L he once represented. Raiden denied that he had done anything improper.