Federal Reserve Expands Restrictions On Employees Working For Large Banks

With issues regarding former employees working closely with the banks they regulate behind them, the US Federal Reserve announced Friday it is expanding restrictions on its employees moving into positions at large banks the regulator supervises. Federal Reserve expands restrictions to cover more employees The Fed currently has a one year restriction on senior officials leaving to work for banks with more than $10 billion in assets where they were the “central point of contact.” Today’s announcement expands this restriction to deputy central point of contact officials, senior supervisory officers, deputy supervisory officials, enterprise risk officers, and supervisory team leaders. The policy…