Consumer Confidence in Banking on the Decline, Study Finds

S&P Global
S&P

Consumers continue to lack confidence in the U.S. banking industry, a study from American Banker and Reputation Institute found.

From 2017 to 2018, many industries saw a steep decline in reputation — so steep that experts refer to this time period as a "reputation recession." But from 2018 to 2019, most industries saw a partial recovery. Banking was not among them, said Sven Klingemann, research director at Reputation Institute.

"It really continued on that downward trajectory, which was pretty unique among most industries," Klingemann said in an interview.

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