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Puerto Rico Bank Files Current First-Half Results

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After accounting restatements forced First BanCorp to play catch-up in its reporting, the San Juan, P.R., company said it became current this week by filing its 1Q and 2Q results.

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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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