crime

Watchdog orders Mizuho Bank to stop loans to gangsters

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YES, YES, YES. It is about time!!!

1 ( +6 / -5 )

Mizuho Bank should not be chasing short term profits but should fulfill it's social responsibility and ethics as a financial institution.

9 ( +9 / -0 )

The gangs, which themselves are not illegal, have historically been tolerated by the authorities

If the gangs are legal and credit worthy, I wonder how they will justify not giving them loans. Either gangs should be illegal, which won't happen, or police need to crack down on illegal activities the gangs are connected with. This isn't a job for banks, who should just evalutate risk and loan accordingly. Ya-san are probably a good risk.

6 ( +8 / -2 )

This isn't a job for banks

Exactly, this should be a job for the government and the police, but they don't really want/can't fight the mafia.

6 ( +9 / -3 )

Funny, my wife works for a foreign company, and they go to great lengths to make sure that they do no business with "anti-social-forces", even to the point of checking their vendors and suppliers for any links. Amazing that Mizuho hasn't been able to do the same thing.

9 ( +12 / -3 )

This means - more loans for people with tattoos.

1 ( +4 / -3 )

Mizuho has one month to draft a plan to address the issue, the watchdog said.

Procastination again, all they need to do is stop lending to crimimnal groups from today. They dont need to take 1 month to make a plan.

However if they do stop lending to the yaks the cops will get a decline in their back handers.

0 ( +1 / -1 )

Mizuho won't get serious about the issue until the government imposes heavy fines and penalties. And when will that happen?

4 ( +5 / -1 )

Yes, they were "scolded" by the Financial Services Agency. Trembling in their shoes no doubt. How many politicians have a vested interest in Mizuho and Yak activities, therein lies the problem.

2 ( +3 / -1 )

Why is it alway " regrettable or deeply regrets...."??

It's just lame now....

6 ( +7 / -1 )

The loan will never pay back by Yakuza.

1 ( +1 / -0 )

Many yakuza members own legitimate business such as subcontract construction, movie theater(s). store)s_. etc so that when they become older, they can quit being yakuzas. (Ashi o Arau custom)). Their headquarters are usually registered as a business entity. Like Yamaguchi gumi, Anegasaki, Inagawa, Kykuto, etc. Why legitimate>? Once upon a time, Pres. Ike was coming to Japan but then right wing opposed by planning assassin. /so, then Japanese Govt ordered al yakuza groups in Japan to have Welcome Ike Association. Right wing was chased away. Ije did not goto Japan. So, something comes, Govt use yakuza groups. Because upper level yakuzas have legitimate business, they use banks just like any none yakuza vbusiness. /saving accounts, too. It is very hard to distinguish yakuza transaction with none yakuza business owners, Maybe Govt hate Yakuza to rehabiliate. When Govt did not know what to do after Fukushim disaster, Yamaguchi gumi sent many hundred truck full or food, futoons, etc to fukushim right away, The tradition of yakuza belief that they help helpless Japanese people since Hoguante Govt was created. Many local type banks must be scared of FSA now. Retirement from yakuza will become difficult for them now. Retirement (Ashi o Arau)

3 ( +5 / -2 )

Why would they? More money for them! The Yaks run the place, anyway!

-1 ( +0 / -1 )

Earth to Japan, earth to Japan!

Why not make gangs ILLEGAL????

Just a thought..............

3 ( +4 / -1 )

Mizuho won't get serious about the issue until the government imposes heavy fines and penalties. And when will that happen?

never, instead other banks also may follow Mizuho bank.

1 ( +1 / -0 )

So...who is going to protect and support Mizuho employees and execs when the yakuza get upset about being refused loans?

That's right! Nobody! The government should not be stepping in telling people who they can and cannot do business with without providing firm grounds for it. Otherwise its just a form of discrimination and believe me, I am not a yakuza but I am familiar with it.

-7 ( +2 / -9 )

That means Mizuhho should stop buying Japan government bonds too. The Nagatachō gang is the worst.

9 ( +9 / -0 )

I was refused a housing loan from Mizuho as have been many Japanese friends. Now I understand that if we had been "connected" or made guys, we would have got some yen. Doesn't matter as the other two major lenders were more than happy to have my business. Mizuho stinks!

4 ( +5 / -1 )

I was refused a housing loan from Mizuho

That's probably because you didn't make enough money or because you were self-employed. They have the flat 35 for people like that.

-5 ( +3 / -8 )

Kickboard - did you read my full post? I said I got approved from the two other major banks. As have many friends J and NJ - who have all been refused by Mizuho in the past. Has nothing to do with my income or job situation, IMHO. Mizuho is unprofessional and this news story comes as no surprise to me.

4 ( +5 / -1 )

I remember it was quite difficult for me to borrow money to buy land and build a house even with PR and steady employment. I should have gone to Mizuho.

-1 ( +1 / -2 )

If you are a gangster but you work...

You cannot get a loan for your house for your family .....

Sounds like tattoos in sports clubs all over...

The prejudice continues

-2 ( +2 / -4 )

So 'Mizuho took no corrective action after the issue was discovered couple of years ago. Well, not that difficult to imagine some in the upper management of the institution being connected to the " anti social " forces and making sure they get looked after .

1 ( +2 / -1 )

The Mizuho leaders do not want to give up the "entertainment" from their Yak customers. It is amazing how the Yaks, who are basically parasites on Japan, are allowed to survive. The government should legalize much of what the Yaks do, tax it, and be done with it.

0 ( +2 / -2 )

If you want to build your house with bank loans, it must be difficult. You will have to own equivalent amounf assets so that if you default, bank can recover. Usually real real estate companies have good results. If you don;t have a good amount of saving account with periodical deposit to back up your requesting loans, bank will deny your loan request. They will not ask you if you are a yakuza or not. If you want to buy a land, land owner have some say. Owners prefer cash sales. It is not only Mizuho, but other banks doing business with yakuzas in some scale. Business transaction, not personal loans.

1 ( +3 / -2 )

Many yakuza members own legitimate business such as subcontract construction, movie theater(s). store)s_. etc so that when they become older, they can quit being yakuzas.

This is not true. The gangsters do buy and operate these businesses, but their main purpose is to launder money. The dirty cash from gambling, prostitution and leg-breaking (loan-sharking) is passed through legitimate businesses to make it appear as though it was legally earned.

I was in law enforcement for several years, and I know how the game is played.

2 ( +5 / -3 )

If I am not mistaken, Mizuho also got into trouble in Mexico, along with HSBC, money laundering, etc...different countries, same banks, same type of crime. Surprise?? And I bet this is ONLY THE TIP OF THE ICEBERG!

3 ( +4 / -1 )

@sangetsu: I only mentioned legitimate business of yakuzas w=that nea;be them to do business with banks. illegitimate activities such as their illegal gambling revenue by tera-sens in their niwavbas, or Sokaiya activities with their dingy stock holders yell Hantai, hantai or Sanseis sansei before issues were spoken do not get bank loans. So you don;t think yakuzas do not own business I mentioned? have you inspected their oixcho kavbu and Mah Jong activities in one of their gambling arena in their shima and niwaba? These activitieds do not need bank loans. Tera-sen is large. They don;t have to borrow money.

-2 ( +0 / -2 )

Godan - interesting - I got a 100% housing loan from Mizuho but was refused by some other major banks. And I am a 51 year old English teacher + single. Perhaps they know something about me I don't.

1 ( +3 / -2 )

@stewart: Any banks will love to have you as their customer. Remind you, 51 is young in Japan. Respectable job. Mizuho is one of three top bamking systems in Japan. Of cause Mitsubish is top in this field just like in any business areas. Mizuho is No.2. While Sumitomo Mitsui is No3. I wonder Mitsui is pushing Govt to punish Mizuho? Mitsui had been top financial institute in Shiogunate era. Shogunate decided not to rebuild Edo Castle because it had to borrow Mitsui money. Powerful until W W I I was over. Mitisui had Yasuda Banking System that was owned by Yoko On;s family that is decendents of one Emperor. Sumitomo was one of three finacial group once upon a time. Mitsui Mitsubish Sumito in Japan. Now, Mizuho has 25 million household as its customers. It has 515 branches and it has branches in every prefecture. Must be hard to check activities of every branch. Maybe other banks which did not accept you were not financially able to have you as a customer?

1 ( +2 / -1 )

StewartSep. 28, 2013 - 11:37PM JST

Godan - interesting - I got a 100% housing loan from Mizuho but was refused by some other major banks. And I am a 51 year old English teacher + single. Perhaps they know something about me I don't.

Congratulations to you and you did good compared to newly arriving immigrants in US. It looks like to me that Japanese banks are willing to take risks.

US banking industry is not willing to take a risk and most often foreigners with no other history other than a short term background history will be rejected for mortgage and business loan applications. So most of them are forced to do a cash deal. Also P&C insurance industry is not willing to take these foreign drivers unless they are willing to pay higher premium.

-3 ( +0 / -3 )

Any other foreign back could have lost their loan business in this case.But this time it local.

0 ( +0 / -0 )

Just Mizuho Bank? And only 200million yen?

What is this a slap on the their toe jam? Its the right direction but a little too light don't you think? And there is no chance in hell that only 200 million yen were transacted between the bank and those elements. Where's the poop?

-2 ( +0 / -2 )

They are the only people capable of paying it back.

0 ( +0 / -0 )

Why not make gangs ILLEGAL????

I am sure it is illegal acts carried out by gangs that are illegal, rather than gangs themselves. If you declare the gangs illegal, they go even more underground and prove harder to track.

0 ( +0 / -0 )

I strongly believe that some of the politicians have ties to or are in someway connected to the Yakuza so they will never make gangs illegal unless they are talking about the bosozouku's

0 ( +0 / -0 )

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