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In Brief: Webster Net Income Off 17% in Quarter

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Webster Financial Corp. reported fourth-quarter net income of $37.8 million, down 17% from a year earlier.

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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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