Citigroup Inc (C): More Legal Woes Imperil Bank Profits

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Finally, Valley National Bancorp (NYSE:VLY) is the holding company for the Valley National Bank. Valley provides various commercial, retail, trust, and investment services. Its deposit products include savings accounts, money market accounts and certificates of deposit. Shares are up about 5% in 2013.

At the end of the day, investors need to ask: Why invest in big banks when the economic tempest stirred by the massive mortgage fraud continues to linger? And while the business of business is business, to paraphrase the late Milton Friedman, perhaps investors should also factor the ethical responsibilities of business into their calculus.

The article More Legal Woes Imperil Bank Profits originally appeared on Fool.com and is written by Kyle Colona.

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