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It's Official: We Don't Trust Big Banks It's Official: We Don't Trust Big Banks

It's Official: We Don't Trust Big Banks

by Patrick James
February 12, 2010

According to a report from Forrester Research, we don't trust our banks-especially big banks. The New York Times has the low-down on America's Least-trusted Banks:
The report, Forrester's annual Customer Advocacy rankings, ranks nearly 50 financial services firms in the United States by the percentage of each firm's customers who agree with the statement: "My financial provider does what's best for me, not just its own bottom line." The results are based on a survey of about 4,500 consumers.
The least trusted bank in the country is apparently HSBC, where only 16 percent of customers agree with the above statement. Spots two through seven on the least trusted list are occupied by Citibank, Fifth Third, TD/Commerce, Capital One, Chase, and Bank of America (which boasted a whopping 33 percent).Credit unions have significantly more customer confidence, with roughly 70 percent of customers saying their financial institution has their best interests in mind.Does your bank care about you?
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