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NOV 17, 2009 10:35am ET

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Royal CU to Buy 11 AnchorBank Branches

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Royal Credit Union announced this morning it has agreed to acquire 11 branches in northwestern Wisconsin from troubled AnchorBank.

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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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