A little-known bank regulator from a newly formed New York
agency might just shame federal regulators into getting tougher with the banks.
Or he should, anyway, according to HuffPo’s Mark Gongloff
The Wall Street Journal reported on Thursday that federal
regulators are in talks with the New York State Department of Financial
Services about negotiating a deal with British bank Standard Chartered, which
has been accused of letting Iranian interests launder $250 billion over a
course of years, in violation of U.S. sanctions.
This was an intriguing development in the case, because for
the past 48 hours or so, these same federal regulators have been beside
themselves with fury at the guy in charge of that same New York State
Department of Financial Services, Benjamin Lawsky. Now they're talking about joining forces with
him. It's almost enough to make you hope that, if there is a penalty coming, it
will be more than the usual wrist-slap…..
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