Japanese regulators began uncovering violations during an inspection of the private banking unit in late 2003.

But why didn't Japanese regulators and bank executives wake up earlier, particularly given the highly publicized American problems?

Japanese regulators have ordered automakers to improve average gas mileage to 35.5 miles a gallon in 2010, from 30.3 now.

Japanese regulators have not yet said if they'll let it come into the country.

The deal is subject to approval by American and Japanese regulators.

But the flip side of all this concentration in financial power is that it makes the Japanese regulators' job easier.

Japanese regulators have said that they do not expect other institutions to fail.

The resignations came just days after Japanese regulators opened an investigation of the country's nuclear power producers.

Over the years, Japanese nuclear regulators became submissive to the industry, and nuclear-safety scandals began to emerge.

It also would unite two financial services companies that have had run-ins with Japanese regulators over the last few years.