Mizuho Bank Faces Suspension Of Some Affiliated Loans

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. The scandal has made headlines for weeks, and reportedly sparked a police investigation into Mizuho Inc.’s ties with organized crime. Authorities…