According to CNBC and Reuters there is a little cat-fight breaking out over the New York Department of Finance’s solo nuclear attack on Standard Chartered bank for alleged violations of Anti-Money Laundering and OFAC sanctions laws.

The Treasury Department and Federal Reserve regulatory units, according to reports, were kept in the dark and completely blindsided by the new regulator actually doing its job.

Apparently, the Treasury and Federal Reserve regulators are used to a more quiet, back-room, genteel settlement process (which wouldn’t jeopardize their chances of finding future lucrative jobs with banks).

Please click here to read more about the regulatory squabble: CNBC