Americans’ confidence in banks dipped in 2018 as part of a broad decline in confidence in institutions, according to an annual Gallup survey. Thirty percent of Americans reported “a great deal” or “quite a lot” of confidence in banks, down two points from the year before but still up nine points from the record low notched in 2012. The 2018 reading was the second-highest level since the financial crisis.
Banks ranked just behind the presidency, the Supreme Court and the medical system in confidence, but ahead of public schools, organized labor and “big business.” As usual, Congress brought up the rear, with only 11 percent expressing confidence. Public confidence in banks peaked in 2004 at 53 percent.
Americans’ overall confidence in institutions dipped two points to 33 percent, in line with the average over the past decade. Most institutions saw confidence decline in 2018, with a 7 point decline posted by public schools; only the military, the presidency and big business saw gains.