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Peoples of Ohio Pins Its Hopes on a Branch Deal

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The critically undercapitalized Peoples Community Bancorp of West Chester, Ohio, might stave off failure with the deal it announced Monday to sell nearly all of its branches.

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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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