Boomers Distrust Most Financial Institutions

Very few Americans have faith in financial institutions, according to a recent Harris Poll. How few? Between 2 percent and 5 percent of survey respondents said statements made by credit card companies, mortgage companies, regulatory agencies or health insurers were “completely believable.”

On the other hand, accounting firms, banks and investment firms have managed to secure at least some trust from Americans. Sixty-two percent of respondents said they found accounting firms somewhat believable; 57 percent have the same level of trust in banks, and 52 percent in investment firms.