Still plagued by concerns over proposed caps on credit card interest rates, banks stocks continued to lose ground on Monday despite a 30-point recovery in the Dow Jones industrial average.

"The banks opened weak and they stayed weak, with a couple of exceptions, although the market itself gained some positive momentum after a lot of early uncertainty," said Frank J. Barkocy, the senior banking industry analyst for Advest Inc.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.