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 five-to-one margin over the next closest sector, consumers chose banks (44%) over the government (8%), non-bank fintech payment providers (6%), healthcare providers (6%), AI providers (5%), major retailers (2%), cryptocurrency companies (1%) and telecom companies (1%).
The research, unveiled today at ABA’s 2026 Annual Convention, also gauged consumers’ support for policy actions to combat fraud as well as their satisfaction with their bank, how they rate the banking industry’s competitiveness and their view on the role banks play in the U.S. economy.
“This survey shows that Americans recognize the significant time, energy and resources banks devote to protecting them from fraud and scams.,” said Rob Nichols, ABA president and CEO. “From investing in the most advanced technology to helping customers identify and avoid scams, banks are working every day to protect their customers’ financial security. These findings make clear that consumers see banks as a trusted partner in the ongoing fight against fraud, and that they want others to join the effort.”
The survey also found that:
- More than eight in 10 bank customers (83%) said their bank takes proactive steps to protect them from fraud and scams
- Nearly three-quarters (71%) believe their bank does more than businesses in other industries to protect them
- More than half of consumers (52%) have received a fraud alert from their banks alerting them to potentially suspicious account activity, and 95% found these alerts valuable
Consumers support policy actions to combat online and phone scams
The survey confirms that Americans are fed up with being targeted by social media and telephone scams and want the government to take action to stop it:
- Nearly three-quarters (72%) of Americans have seen ads and messages on social media from people and businesses they believe are fraudulent and deceptive
- Large majorities support government actions to combat fraud:
- Eight in 10 (79%) 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
- With the proliferation of scammers spoofing caller ID to impersonate trusted entities like banks, government agencies and law enforcement, 82% 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 Federal Communications Commission (FCC) is currently pursuing a range of regulatory action in this area.
Eight in 10 (81%) support regulatory action that requires telecommunications providers to do more to stop illegally spoofed calls that pass through their network, rather than delivering the illegal calls to recipients or to another provider - Three in four (76%) support additional funding for the FCC to bring more enforcement actions against telecommunications providers that allow fraudulent calls to be originated or transited through the provider’s network (vs. only 9% who oppose)
“Many of the most damaging scams originate on social media or through deceptive phone calls, and Americans clearly want telecom and social media companies to do more to stop fraud on their platforms,” said Nichols. “These companies have both the ability and responsibility to stop scammers before they reach consumers, and the strong public support for bipartisan proposals such as the SCAM Act sends an unmistakable message that consumer protection must come before profits.”
Consumers are happy with their bank
The new survey also found that an overwhelming majority of consumers are happy with their bank and view banks as vital to the U.S. economy.
- Nine in 10 Americans with a bank account (85%) say they are “very satisfied” or “satisfied” with their primary bank
96% rate their bank’s customer service as “excellent,” “very good” or “good” - The survey found that Americans believe the nation’s banks compete aggressively for their business and they have ample access to banking services.
- Eight in 10 say:
- the financial services industry is highly competitive (77%)
- they have multiple options when selecting products and services such as bank accounts, loans and credit cards (77%)
- they have a wide array of choices when deciding where to bank (79%)
- they have easy access to a bank branch when they need it (77%)
- 93% 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 makes clear that consumers value the service, security and personal support they receive from their bank,” said Nichols. “The strong satisfaction numbers reflect the trust banks earn by putting their customers first and helping safeguard their financial well-being.”
