It is no shocker that the biggest banks have problems with their public image these days. To add to the anecdotal evidence of family, friends and your own opinion a recent report from Forrester Research says that America’s largest banks are trusted the least in the country.

Forrester Research concluded this by questioning around 4,500 people about what they think about a statement that says that the bank they use does what is best for the public and not themselves.

Those who answered positively fell into the minority, with a percentage of thirty three to sixteen percent. The bottom seven banks included Bank of America, Chase, Capital One, TD Bank, Fifth Third, Citibank and HSBC. Not surprisingly, data collected indicates that these banks have been at the bottom of the survey for the last seven years.

Experts in finance remain skeptical of the idea that the banks will regain a decent image. Stephanie Anne Regina, a financial analyst gives her opinion on the situation.

“I do not believe that banks theoretically can’t regain the trust of consumers. It is a matter of them not doing a thing that would bring it back. They should spend less cash on PR people attempting to help their image and more time on working to change their infrastructure.”

But can our problems with banks be our own fault? Non-responsive and passive, consumers aren’t pulling their money out of banks. They may feel angry, but their behavior is not a reflection on these feelings.

Maybe if we got angry enough to pull our money out of our accounts and switch our funds to a smaller bank, then the larger banks would have 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 like things are going to stay at the status quo until things get so miserable that it is too late to turn around.

Mallory Megan works for a debt collection company. Also she writes stories on business, finance, consumer spending and collection agencies. Grab a totally unique version of this article from the Uber Article Directory

Similar Posts:

Share