Financial stocks declined premarket Monday with the Financial Select Sector SPDR Fund (XLF) 1.3% lower recently.

The Direxion Daily Financial Bull 3X Shares (FAS) was down almost 4% and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 4.1% higher.

Robinhood Markets (HOOD) has been ordered to pay $3.75 million in restitution to customers and $26 million in fines for violating numerous Financial Industry Regulatory Authority rules, the organization said. Robinhood Markets shares fell past 6.6% pre-bell.

Italian defense and aerospace firm Leonardo replaced Bank of America (BAC) with Germany's Deutsche Bank (DB) in recent weeks to advise on its efforts to create a new European space and satellite entity, Bloomberg News reported, citing people familiar with the matter. Shares of Bank of America were down more than 2%, while Deutsche Bank shares were over 4% lower pre-bell.

Walker & Dunlop (WD) shares were down 0.3% after the company priced an amended $450 million senior secured credit agreement.