IRAN SCHEME: New York's financial regulator is alleging that a British bank schemed with the Iranian government to launder $250 billion from 2001 to 2007, leaving the United States' financial system "vulnerable to terrorists."

WIRE STRIPPING: State Financial Services Superintendent Benjamin Lawsky signed an order that requires London-based Standard Chartered Bank to answer his questions following an investigation into "wire stripping," the practice of removing crucial identifiers in financial transactions.

MILLIONS MADE: The order says the transactions provided the bank with millions of dollars in fees at a time when such trade was restricted.