Nine in 10 Americans with a bank account say they are “very satisfied” or satisfied” with their primary bank, according to a new American Bankers Association/Morning Consult poll released today at ABA’s Washington Summit. A similar number—88%—also agreed that they have multiple options when selecting products and services such as bank accounts, loans and credit cards.
The survey polled consumers on a number of policy topics, including cannabis banking. According to the results, a strong majority of U.S. adults (65%) support allowing cannabis businesses to access banking services such as checking accounts and business loans in states where cannabis is legal, and seven in 10 said they would support a law enabling them to do so.
“Consumers clearly agree that now is the time to resolve the ongoing conflict between state and federal law so banks can serve legal cannabis and cannabis-related businesses,” said ABA President and CEO Rob Nichols. “Doing so will help banks meet the needs of their communities while enhancing public safety, increasing the efficiency of tax collections and improving the financial transparency of the cannabis industry.”
In his opening remarks Nichols also recapped new survey data on overdraft protection and bank fees.