Finance and Economic

E*Trade Financial Corp , the online brokerage crippled by mounting losses at its mortgage business, said it sold about $3 billion in mortgage-backed securities and reduced wholesale borrowing levels by about $3.5 billion.

The company said it ended the year with $190 billion in client assets and $33 billion in cash.

E*Trade on Tuesday told Reuters that it will exit the U.S instant payday loan. institutional sales business eliminating about 30 jobs.
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