NEW YORK (
was the loser among large financials Tuesday, with shares declining over 4% to close at $4.93.
The broad indexes rebounded late in the trading sessions, from earlier losses that followed a report from the Conference Board that consumer
KBW Bank Index
declined 1% to close at 39.46, with all but two of the 24 index components down for the day.
Bank of America
saw its shares slide over 3% to close at $8.12.
Following word of a court filing by the
Federal Deposit Insurance Corp.
, in which the regulator
of institutional investors' mortgage putback claims involving Countrywide,
, as trustee for a $1.75 billion securitization of Countrywide loans.
declined 3% to close at $6.57.
Large banks seeing 2% declines included
, which closed at $17.04, and
, closing at $75.50..
declined 1.5% to close at $50.23.
Tuesday's winners among large U.S. banks with 1% gains were
People's United Financial
, which closed at $11.53, and
, which closed at $4.48.
Written by Philip van Doorn in Jupiter, Fla.
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Philip W. van Doorn is a member of TheStreet's banking and finance team, commenting on industry and regulatory trends. He previously served as the senior analyst for TheStreet.com Ratings, responsible for assigning financial strength ratings to banks and savings and loan institutions. Mr. van Doorn previously served as a loan operations officer at Riverside National Bank in Fort Pierce, Fla., and as a credit analyst at the Federal Home Loan Bank of New York, where he monitored banks in New York, New Jersey and Puerto Rico. Mr. van Doorn has additional experience in the mutual fund and computer software industries. He holds a bachelor of science in business administration from Long Island University.