Yesterday, New York's top banking regulator accused the British bank Standard Chartered of secretly helping the Iranian government to launder billions of dollars. Standard Chartered has denied the accusations, saying 99 percent of the transactions in question complied with regulations.
Now other authorities investigating the bank are questioning just how expansive Standard Chartered's mistakes were.
Ben Protess is a business reporter with The New York Times. Pat McFadden is a British Labour member of parliament.