A new APNORC poll finds an underwhelming assessment of banks and other financial institutions in the U.S. in the wake of sudden bank failures earlier this month. Only 10% say they have high confidence in the nation’s banks.
In the United States, the tumult has raised questions among policymakers about 2018 legislation that rolled back strict regulations put in place after the financial crisis.
Though confidence in banks and financial institutions has decreased even since the last time that question was asked on an AP-NORC poll in 2020, low confidence among Americans in their public institutions is nothing new — the General Social Survey, which has tracked trends in public opinion for decades, shows that confidence in institutions ranging from the financial industry to organized religion and from the news media to Congress has declined substantially since the 1970s.
“You never know what’s going on. It’s paycheck to paycheck,” said Metscher in Sacramento. “I’m looking at food prices, gas prices. It reminds me of being a kid growing up’’ during the high-inflation 1970s.Tyronda Springer, 28, a mother of two in Banks, Alabama, who works in a warehouse loading trucks, is struggling with the cost of living.
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