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Most Americans Angry at Banks, Research ShowsMOST AMERICANS ANGRY AT BANKS, RESEARCH SHOWS
But many remain optimistic about the economy and their money’s safety
GREENSBORO, NC – May 12, 2009 – Nearly 60% of Americans said they are angry at the banking industry according to a recent nationwide survey conducted by Resultant Research, the research arm of brand development firm Stealing Share, Inc.
Despite the 59.8% saying they are angry, nearly the same number of Americans reported being optimistic about the nation’s economic future. Most Americans (60.2%) said their money was safe and 53.2% said the nation’s experts would see the country out of the current economic downturn.
“While the optimism is certainly cause for celebration, this also shows that banks just don’t get it,” said Tom Dougherty, CEO and President of Stealing Share, Inc. “The primary messages from banks has been about safety and stability, yet banks wonder why nobody switches to them. Simple: Why switch because of safety and security when you believe you already have them? What this tells you is that consumers are mad and, therefore, seeking something else from the industry.”
Working class Americans are especially angry at the banking industry, with 61.8% of those making less than $60,000 saying they are angry compared to the 55.1% of wealthier Americans (household income of more than $100,000) who said they are angry.
In addition, less working class Americans (54.4%) felt their money was safe and that experts would pull the nation out of its current economic doldrums (40.7%).
“It makes sense that working class Americans would be the most angry because they are the ones most hit,” added Dougherty. “Still, with nearly two-thirds of Americans mad at the banking industry you know exactly who Americans blame for our current situation.”
The nationwide survey was conducted with a random sample of 500 Americans, giving it a margin of error of +/- 4.65%.
