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Mizuho says chairman will step down over mob loans scandal

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(Globalpost/GlobalPost)

TOKYO (Reuters) - Mizuho Financial Group <8411.T> said on Thursday that its chairman Takashi Tsukamoto will step down in March to take responsibility over a scandal involving loans to organized crime.

The move came after regulators earlier on Thursday ordered Japan's second-largest lender to suspend some of its lending operations for one month.

President Yasuhiro Sato will also give up a full year's compensation, extended from a period of six months announced earlier, Mizuho said through a statement.

(Reporting by Taiga Uranaka; Editing by Shinichi Saoshiro)

http://www.globalpost.com/dispatch/news/thomson-reuters/131226/mizuho-says-chairman-will-step-down-over-mob-loans-scandal