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Online Channel Helping Gloucester Gain Deposits

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Like many other small financial institutions, Gloucester County Federal Savings Bank has had its growth plans hampered by fierce deposit competition, both from other local banks and from online ones.

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The $25 billion mortgage robo-signing settlement is:
Political extortion from the banks in an election year
A slap on the wrist — the banks put reserves away for this long ago, they won't even feel it
A source of relief for both banks and homeowners that could help the housing market and economy recover
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