The survey showed a significant drop in American confidence in banks

Only 10% of American adults have a “high degree of trust” in American banks and other financial institutions. This is significantly lower than in 2020, when 22% of respondents declared high confidence in banks. Such data are provided in survey public opinion jointly conducted by The Associated Press and the Center for Public Research (NORC) at the University of Chicago.

According to this survey, 57% of American adults “somewhat” trust the nation’s banks, while 31% of respondents have little to no “trust” in them. The survey was conducted March 16–20 and included more than 1,080 American adults. The authors of the survey note that the results, obviously, were affected by the situation with the collapse of several banks. collapse California-based Silicon Valley Bank (SVB), which was announced on March 10, was the largest bank failure in the US since 2008. Followed by SVB went bankrupt New York-based Signature Bank, which became the third-largest bank failure in US history.

As can be seen from the AP-NORC survey results, Americans believe that one of the reasons for this situation is that the US government is not doing everything it could to regulate the banking industry. 56% of respondents said that the government is not doing enough to regulate banks and financial institutions, 27% believe that regulation is enough, and 15% think that regulation of this industry is even excessive. At the same time, about 50% of Americans indicate that their personal financial situation is “good”, but the same proportion of respondents expressed confidence that the economic situation in the United States will worsen next year.

Alena Miklashevskaya