Bank of America Corp (BAC), Wells Fargo & Co (WFC): Will Superstition Take Hold Of the Dow Jones Industrial Average 2 Minute (.DJI)?

Though the company already had a tarnished reputation from its Countrywide legacy, it now has to deal with both customer and investor wariness. The bank will need to prove to new customers that it has cleaned up its loan processing department and prove to new business partners in the MBS market that it won’t misrepresent the loans bundled in its securities. Both could prove a herculean task.

These two mortgage-related scandals could generate more uncertainty in the bank’s place as an investment. New lawsuits may be forthcoming, and who knows when the next headline may emerge with further allegations of misconduct.

The article Will Superstition Take Hold Of the Dow? originally appeared on Fool.com is written by Jessica Alling.

Fool contributor Jessica Alling has no position in any stocks mentioned. The Motley Fool recommends Bank of America and Wells Fargo. The Motley Fool owns shares of Bank of America and Wells Fargo.

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