TOKYO (Reuters) - Mizuho Financial Group <8411. T> said on Thursday it had replaced its chief compliance officer almost a week after Japan's banking regulator reprimanded it over loans extended through consumer credit agencies to members of organized crime networks.

Japan's second-largest lender has also come under fierce public criticism over the loans scandal. A Mizuho spokeswoman said that Masakane Koike, managing director in charge of risk management and compliance at Mizuho Bank, was relieved of the compliance role on Monday.

Deputy President Yasunori Tsujita now handles compliance, the spokeswoman said.

The Financial Services Agency (FSA) last week ordered Mizuho to improve its business practices, saying the bank had known since 2010 that it had, through the credit agencies, extended more than 200 million yen ($2 million) in loans to what the regulator called counter-social forces.

Koike's term as compliance officer began in 2012, nearly two years after the loans were extended. The Mizuho spokeswoman said the bank had decided it would be best to have a senior executive on the committee handling the loans issue.

(Reporting by Taiga Uranaka; Editing by Miral Fahmy)

About News.net

Publishing Services International Limited (PSIL) is the publisher and operator of a worldwide network of online news sites dedicated to delivering fair, accurate and relevant reporting from a variety of the world’s most trusted sources – from the biggest cities to the smallest towns.

We deliver positive and powerful messages to our readers, providing up‑to‑the‑second news that matters to the individual.

Our promise is to serve communities and individuals worldwide, delivering information that hasn’t always been available to them. We will give them back a voice – a voice that’s empowering because it is theirs – and provide a platform to communicate between themselves and the world.

We believe people are not just generic demographics; they are individuals with their own preferences and curiosities. We are about understanding these individuals, listening to them, and serving them.

We are the new pioneering spirit of news – we’re not talking to everyone, we’re talking with every one.

If you want your news, your voice, your way, on your time – we’ve got news for you.

 

FAQs

Email

If you have any questions or concerns please email us on support@news.net

Phone

  • Australia, Toll Free 1-800-983-421
  • Hong Kong, Toll Free 800-906-187
  • Singapore, Toll Free 800-852-3871
  • USA/Canada, Toll Free 1-800-830-4132

Advertise With Us

Interested in being awesome?
Contact us by email or phone.

Cancel