A search of public records — government documents posted on the Internet, congressional testimony, guidelines for bank examiners, and even an executive order President Bush signed in September 2001 — describe how US authorities have openly sought new tools to track terrorist financing since 2001. That includes getting access to information about terrorist-linked wire transfers and other transactions, including those that travel through SWIFT.
‘There have been public references to SWIFT before,’ said Roger Cressey, a senior White House counterterrorism official until 2003. ‘The White House is overreaching when they say [The New York Times committed] a crime against the war on terror. It has been in the public domain before.’

From Victor Comras, a counterterrorism expert formerly with the State Department and United Nations:

Reports on US monitoring of SWIFT transactions have been out there for some time. The information was fairly well known by terrorism financing experts back in 2002. The UN Al Qaeda and Taliban Monitoring Group , on which I served as the terrorism financing expert, learned of the practice during the course of our monitoring inquiries. The information was incorporated in our report to the UN Security Council in December 2002. That report is still available on the UN Website. Paragraph 31 of the report states:
‘The settlement of international transactions is usually handled through correspondent banking relationships or large-value message and payment systems, such as the SWIFT, Fedwire or CHIPS systems in the United States of America. Such international clearance centres are critical to processing international banking transactions and are rich with payment information. The United States has begun to apply new monitoring techniques to spot and verify suspicious transactions. The Group recommends the adoption of similar mechanisms by other countries.’

From commentator Alex Koppelman, who sums things up pretty well:
This isn’t about whether the Times (but, uh, not the Journal) violated national security, not really. It’s about changing the subject, about diverting attention, once again, from an administration that has systematically been bending and breaking the law and the Constitution in order to assemble ever more information about all of us. The convenient scapegoat, once again, is the press, and the liars — come on, let’s call them what they are here — are proving once again that when it comes to political gain, no fundamental American value will stand in the way.