On Thursday, Japan’s FSA ordered Mizuho Bank to suspend some of its lending business with consumer credit companies, following a scandal involving organized crime syndicates.
Later reports also reveal chairman of Mizuho Financial Group Inc. (NYSE:MFG) (TYO:8411) Takashi Tsukamoto resigned following the regulator’s penalty.
$2 million transactions with criminal groups
One of Japan’s three biggest banks, Mizuho Bank had processed hundreds of transactions worth about 200 million yen ($2 million) for ‘anti-social forces’, a common term for Japan’s yakuza mobsters.
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