The government on Friday ordered regional lender Suruga Bank to suspend its real estate financing operations for six months after a spate of improper housing loans, including forgeries of income documents.
The Financial Services Agency ordered the bank to halt loans for purchases of investment-purpose real estate from Oct. 12 until April 12, the first issuance of a business suspension order to a Japanese bank since 2013, when Mizuho Bank was punished over its involvement in transactions with members of organized crime groups.
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