News is out that seven banks including U.S. banks JPMorgan and Citigroup have received subpoenas in recent weeks from the attorneys general of New York and Connecticut. The investigation relates to the LIBOR interest-rate scandal. Is it time to ditch big banking? Fool analyst Anand Chokkavelu doesn't think the news changes the investing theses in big banks, but offers up two smaller, simpler alternative banks (Huntington Bancshares and Fifth Third Bancorp) to look into. See the video below.
With so many of the big finance firms getting bad press these days, you may be inclined to stay away from the sector entirely, but that could be a huge mistake. In fact, some of the best opportunities over the next few years can be found there, including one small, under-the-radar bank. It’s been called one of "The Stocks Only the Smartest Investors Are Buying." You can learn about it, and more, in our exclusive free report. Just click here to keep reading.
Anand Chokkavelu owns shares of Bank of America, Citigroup, JPMorgan Chase, Wells Fargo, Huntington Bancshares, and Fifth Third Bancorp. He also has warrants in Citigroup, Wells Fargo, and JPMorgan Chase, and long-dated options in Bank of America. Austin Smith owns shares of Wells Fargo and Citigroup warrants. The Motley Fool owns shares of Bank of America, Citigroup, Fifth Third Bancorp, Huntington Bancshares, Wells Fargo, and JPMorgan Chase. The Fool has created a covered strangle position in Wells Fargo. Motley Fool newsletter services recommend Wells Fargo. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.