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Ritter Forgoes $12.3M of Pay

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Regions Financial CEO Dowd Ritter, who's stepping down after two straight annual losses, is giving up $12.3 million in promised compensation by retiring this year.

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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
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