Bank ETFs in Spotlight on Bank of America 52-Week Low, Durbin
June 8th, 2011 at 12:10pm by John Spence
Bank exchange traded funds erased early losses Wednesday as did Bank of America (NYSE: BAC) shares, although the crucial holding set a new 52-week low at the open.
Also, bank ETFs could see volatility in afternoon trading as the Senate plans to vote on whether to delay limits on debit card fees charged to businesses, as The Hill reported.
A section of the Dodd-Frank Financial Reform legislation called the Durbin Amendment would cut interchange fees and cost banks billions annually, TheStreet reported.
SPDR KBW Bank ETF (NYSEArca: KBE) was up 0.6% in midday trading Wednesday.
SPDR KBW Bank ETF
The opinions and forecasts expressed herein are solely those of John Spence, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.