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E*Trade to buy Deutsche Bank unit

E*Trade Group announced Tuesday that its banking operations will buy Ganis Credit in a $101 million deal. Ganis, a U.S.-based subsidiary of Deutsche Bank, will provide E*Trade Bank with the ability to offer and service loans for recreational, marine and motor sport vehicles. E*Trade said the deal will allow it to diversify its revenue. The company offers home mortgage, auto and home equity loans. E*Trade expects to close the deal in the fourth quarter or early next year.