By going it alone through the order he issued on Monday, the head of the recently created New York State Department of Financial Services, Benjamin Lawsky, also complicated talks between the Treasury and London-based Standard Chartered to settle claims over the transactions, several of the sources said.
Lawsky's action, which included releasing embarrassing communications and details of the bank's alleged defiance of US sanctions, is rewriting the playbook on how foreign banks settle cases involving the processing of shadowy funds tied to sanctioned countries. In the past, such cases have usually been settled through negotiated settlements and public shaming has been kept to a minimum.
Public shaming! Oh noes!
Really need to figure out how to make Eschaton World Industries a bank holding company.