Banks Must ‘Make Amends’

Bankers may not regard “making amends” as an item in their job descriptions. But that’s how consumers feel these days, as we learn from an ABC World News poll.

When asked whether “banks and other financial institutions have or have not done enough to make amends for their role in the financial crisis,” 77 percent said they have not. Moreover, the ill will toward banks and other financial players is not an abstract sentiment: Thirty-nine percent said they think banks and other financial institutions “cannot be trusted to treat their customers fairly.”

Given these consumer perceptions, banks are lucky to have fared as well as they did when the poll asked whether respondents have a favorable or an unfavorable overall impression “of banks and other financial institutions in this country.” Forty-nine percent said they have an unfavorable opinion of them (including 25 percent “strongly” unfavorable); 40 percent have a favorable opinion (10 percent “strongly” so).