Following the collapse of Silicon Valley Bank this month, the poll from The Associated Press-NORC Center for Public Affairs Research also finds that a majority say the government is not doing enough to regulate the industry.
WASHINGTON — Only 10% of U.S. adults say they have high confidence in the nation’s banks and other financial institutions, a new poll finds. That’s down from the 22% who said they had high confidence in 2020.
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.
Overall, about half of U.S. adults expect U.S. economic conditions to deteriorate over the next year. Again, there’s a political divide: About three-quarters of Republicans but only a third of Democrats expect the national economy to worsen. 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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