American confidence in banks edged down slightly in 2016, according to Gallup’s annual “Confidence in Institutions” survey. Twenty-seven percent of Americans reported “a great deal” or “quite a lot” of confidence in banks, down one point from last year but up six points from the record low notched in 2012.
Banks ranked behind the presidency, the Supreme Court and the medical system in confidence, but ahead of “big business,” organized labor, newspapers, TV news and Congress — in which only 9 percent said they had confidence. Confidence in banks peaked in 2004, when 53 percent expressed confidence in them.
The post-financial crisis decline in confidence in banks is part of a broad decline in Americans’ confidence in institutions. Only 32 percent said they have “quite a lot” or “a great deal” of confidence across all institutions surveyed.