Confidence in US Banks Plummets After Failures: Poll

The banking turmoil following the collapse of Silicon Valley Bank (SVB) has significantly affected the American public’s confidence in banks and other financial institutions, according to a new poll.
The poll from the Associated Press-NORC Center for Public Affairs Research found that just 10 percent of U.S. adults say they have high confidence in the nation’s banks and financial institutions, down from 22 percent in 2020.
A total of 57 percent said they have “only some” confidence in banks, while 30 percent have “hardly any.”
The nationwide poll of 1,081 adults was conducted from March 16–20, using a sample drawn from NORC’s probability-based AmeriSpeak Panel, which is designed to be representative of the U.S. population. It has a margin of error of plus or minus 4 percentage points….