U.S. adults overwhelmingly trust banks more than any other entity to protect them from fraud, according to a new survey conducted by Morning Consult on behalf of the American Bankers Association.
By a 5-to-1 margin over the next closest industry, consumers chose banks (45%) over non-bank fintech payment providers (9%), healthcare providers (7%), the government (7%), cryptocurrency companies (2%), major retailers (2%) and telecom companies (1%).
The research, unveiled on the second day of ABA’s 2026 Washington Summit, also gauged consumers’ support for policy actions to combat fraud as well as bank satisfaction, the competitive landscape of the banking industry and the role banks play in the U.S. economy.
“America’s banks work around the clock to protect their customers from fraud, and consumers see and appreciate those efforts,” ABA president and CEO Rob Nichols said. “Whether through major technology investments or proactive outreach, banks are deeply committed to safeguarding consumers’ financial well-being and earning their trust every day. This survey shows Americans recognize that banks are deeply engaged in the fight against fraud.”
In addition, the survey found that:
- Nearly nine in 10 bank customers (86%) said their bank takes proactive steps to protect them from fraud and scams
- Three-quarters (72%) believe their bank does more than businesses in other industries to protect them.
- Three-in-five consumers (54%) have received a fraud alert from their banks alerting them to potentially suspicious account activity, and 96% found these alerts valuable.
- 60% of alert recipients are concerned with government regulations stopping all bank messages, including fraud alerts.
Consumers support policy actions to combat fraud
The survey confirms that Americans are fed up with online and phone scams that are prevalent across the country:
- Three-quarters (76%) of Americans have seen ads and messages on social media from people and businesses they believe are fraudulent and deceptive.
- Seventy-eight percent support federal legislation that requires social media companies to do more to identify and remove fake accounts and fraudulent ads from proliferating on their platforms. A bipartisan bill in Congress, the SCAM Act, would require social media companies to combat fraud more aggressively.
- 77% of consumers said they support regulatory action that requires telecommunications providers to do more to authenticate the identity of a caller and prevent spoofed caller IDs. The FCC is considering regulatory action in this area.
“Banks of all sizes will continue to invest in technology and tools to detect and prevent fraud, but by the time most scams reach the bank, it’s too late,” Nichols said. “Since so many of these frauds start on social media and in spoofed phone calls, it’s significant that so many Americans support requiring telecoms and social media companies to step up their efforts”
Consumers happy with their bank
The survey also found that consumers are happy with their bank and view banks as vital to the U.S. economy.
- 9 in 10 Americans with a bank account (85%) say they are “very satisfied” or “satisfied” with their primary bank
- 92% rate their bank’s customer service as “excellent,” “very good” or “good”
In addition, Americans believe the nation’s banks are competing aggressively for their business and that they have ample access to banking services.
- 8 in 10 (77%) say the financial services industry is highly competitive
- 8 in 10 (79%) agree they have multiple options when selecting products and services such as bank accounts, loans and credit cards, and the same number (79%) say they have a wide array of choices when deciding where to bank
- 95% characterize their overall access to banking services today as “excellent,” “very good” or “good”
- Three-quarters of consumers (73%) said the nation’s banks are a source of strength for the U.S. economy and they appreciate the key role banks play in supporting the financial needs of individuals, businesses and local communities
“This survey underscores how strongly Americans regard their banks and how clearly they understand the essential role banks play in supporting the nation’s economic strength,” Nichols said. “Consumers view their banks as trusted partners that provide innovative products and services to fit their needs and fight to protect them from fraud.”
ABA released an accompanying infographic highlighting some of the survey results.
