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News Now

CU System
Banks at near bottom of trust poll
DALLAS (9/21/10)--About 52% of those surveyed for a recent Associated Press-National Constitution Center poll said they have little or no confidence in banks. The poll was conducted by GfK Roper Public Affairs & Corporate Communications. About 1,007 randomly chosen adults were interviewed through landline and cell phone calls (LoneStar Leaguer Sept. 20). Respondents also expressed distrust with the federal government and Congress (49%), and blogs (54%). Conversely, about 39% said they are “extremely” or “very confident” in small and local business leaders, the scientific community and organized religion. The poll is one of several in a series showing that consumers’ trust in banks is declining. According to a recent Chicago Booth/Kellogg School Financial Trust Index survey, 62% of American consumers surveyed said they trust credit unions.That compares with 57% for local banks, 35% for national banks and 27% for banks in which the government has a stake, according to the June poll by the Chicago Booth/Kellogg School Financial Trust Index (News Now Aug. 6). The New York Times also reported Sept. 9 that New York gubernatorial candidate Rick Lazio may have lost his bid because of his ties to JPMorgan Chase, where he worked as a lobbyist.


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