NEW YORK ( TheStreet) -- Financial stocks were lower Monday along with the broader market on concerns Portugal was being pressured by Germany and France to accept a bailout. The Financial Select Sector SPDR ( XLF), a popular exchange traded fund that tracks the financial sector, was down 0.37% to $16.16.

News for U.S. financials was on the light side. One story making headlines was the several pension funds owning a total of $5.7 billion worth of stock in Bank of America ( BAC) Citigroup ( C), Wells Fargo ( WFC)and JPMorgan Chase ( JPM) had concerns about those companies' mortgage servicing and foreclosure practices.

Reports on the issue did not appear to have a big impact on the stocks, however. Bank of America stock was up 0.56% to $14.33, which Citigroup was down 0.91% to $4.89. JPMorgan shares were down 0.76% to $43.21 and Wells Fargo shares were lower by .9% to $31.22.

One of the more active names continued to be AIG ( AIG), in keeping with a pattern of recent days. Shares of the bailed-out insurance giant were sharply lower, falling by 3.81% to $58.85 on heavier-than-average volumes. Charles Schwab Corp. ( SCHW) shares were also more active than usual, though the shares had fallen by just a penny to $17.88 in early afternoon trades.

-- Written by Dan Freed in New York.
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