TOKYO -- Japan's Financial Services Agency plans to discipline Higashi-Nippon Bank, a Tokyo-based regional bank, charging that its staff falsified customers' financial records to make them look better than they actually were so as to boost loan numbers, and illicitly charged fees on loans in addition to interest, Nikkei has learned.
Having detected rampant inappropriate practices at the bank, the Japanese financial watchdog is set to issue as early as Friday a business improvement order to the subsidiary of Concordia Financial Group, a major regional banking group headquartered in Tokyo.
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