The New York Times reported that regulators took divergent stances toward the consulting industry this week noting that while federal authorities seemed to reinforce the industry’s power, a state agency tried to undercut it.

The Times said as part of a an anti-money-laundering enforcement action, the Fed recently ordered a large regional bank to hire a consulting firm to comb through its “high-risk customer accounts.”

In contrast, the Times notes that New York State’s top regulator seized upon an obscure state banking law and used it to impose a $10 million fine and a one-year ban on Deloitte, accusing it of “misconduct.”

To read the entire New York Times article, click here.