Fed mulls further curbs on officials crossing over to Wall St

Washington

THE Federal Reserve, criticised by lawmakers for being too cosy with Wall Street, is considering tougher measures to restrict bank examiners from leaving to take jobs at firms they have overseen.

Currently, the two most senior employees assigned to a bank are barred from joining a firm they examined for one year after leaving the central bank system. Fed officials are discussing whether to expand the prohibition beyond those top positions, according to a person with knowledge of the matter.

The Fed has been on the defensive from lawmakers led by Democratic Senator Elizabe…