Big Banks Less Trusted According To Survey
It’s no shocker that the largest banks have issues with their public image these days. To add to the anecdotal evidence of friends, family, and your own opinion, a recent report from Forrester Research alleges that America’s largest banks are trusted the least in the country.
Forrester Research came to this conclusion by asking about 4,500 people how they feel about a statement that alleges that the bank they use does what is best for the public and not themselves.
People who did not disagree with the statement fell into the minority, with a percentage ranging from thirty three to sixteen percent. The bottom seven banks included Bank of America, Chase, Capital One, TD Bank, Fifth Third, Citibank and HSBC. Unsurprisingly, research demonstrates that these banks have been at the bottom of the survey for the last seven years.
Financial experts remain dubious of the idea that the banks can regain a good image. Stephanie Anne Regina, a financial analyst weighs in on the problem.
“I don’t believe that banks theoretically can’t regain the trust of consumers. It’s a matter of them not doing anything that would bring it back. They should spend less money on PR people trying to help their image and more time on working to make changes in their infrastructure.”
But can our problems with banks be our own fault? Passive and non-responsive, consumers aren’t pulling their money out of banks. They may be angry, but their behavior is not a reflection on these feelings.
Perhaps if we got fed up enough to take our money out of our accounts and switch it to smaller bank, then the major banks would have a good reason to begin treating customers differently.
But regardless of the most intense outbursts when people became angry over the bonuses that were given to Wall Street, we still haven’t reacted yet. For the time being, it seems as though things are going to remain at the status quo until things get so bad that it is too late to turn back.
Rapid Recovery Solution is a national debt collection company.
June 1, 2010 | Posted by Mallory Megan
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