More Than Half of
America Doesn't Trust Banks, Prefers to Keep Money Local
Half of Americans have lost trust in banks over the last few years, and even more have lost faith in mortgage lenders, according to a new Harris Interactive Poll. Only 9 percent of Americans say they trust banks more than they did several years ago. These changing attitudes are largely due to consumers' experiences, including customer service and the quality of banking products. More consumers are using businesses closer to home, as local options appear to have a better reputation among consumers. The survey results "suggest a financial institution's sphere of influence might inversely relate to Americans' trust in it," researchers reported. Credit unions and community banks were considered the most trustworthy, with more than 75 percent of respondents rating them highly. Customer trust does not seem to impact a bank's bottom line. Even as they lost a lot of public confidence, major banks posted record-breaking profits.
From "More Than Half of America Doesn't Trust Banks, Prefers to Keep Money Local"
MainStreet (11/04/14) Reed, Eric
Half of Americans have lost trust in banks over the last few years, and even more have lost faith in mortgage lenders, according to a new Harris Interactive Poll. Only 9 percent of Americans say they trust banks more than they did several years ago. These changing attitudes are largely due to consumers' experiences, including customer service and the quality of banking products. More consumers are using businesses closer to home, as local options appear to have a better reputation among consumers. The survey results "suggest a financial institution's sphere of influence might inversely relate to Americans' trust in it," researchers reported. Credit unions and community banks were considered the most trustworthy, with more than 75 percent of respondents rating them highly. Customer trust does not seem to impact a bank's bottom line. Even as they lost a lot of public confidence, major banks posted record-breaking profits.
From "More Than Half of America Doesn't Trust Banks, Prefers to Keep Money Local"
MainStreet (11/04/14) Reed, Eric
No comments:
Post a Comment