Americans’ confidence in U.S. banks is now at a record-low 21%, down slightly from 23% in the past two years and one percentage point below the 22% found in 2009. The percentage of Americans saying they have a “great deal” or “quite a lot” of confidence in U.S. banks is now about half the pre-recession level of 41%, recorded in June 2007. [Emph. added]
Confidence in banks has fallen so far that, of the 16 institutions Gallup regularly polls about, only Congress and HMOs rank lower. What’s more, confidence in banks has fallen more relative to its historical average than for any other institution. When you’re tied with TV news and organized labor, you’ve got a problem. . .