Only One-Quarter of Americans Say Banks are Honest and Trustworthy

Just 4% say Wall Street is honest and trustworthy
ROCHESTER, N.Y.--(Business Wire)--
Over the past few months, Americans have watched as financial institutions have
received government bailouts, or been shut down and have had to close their
doors due to the economic crisis. It is perhaps not surprising then that almost
three in five Americans (58%) say they do not consider any of nine financial
institutions and insurance companies to be honest and trustworthy; that is, they
would not believe a statement by someone who works for one of these companies.

These are some of the results of The Harris Poll, a new nationwide survey of
2,681 U.S. Adults surveyed online between May 11 and May 18, 2009 by Harris
Interactive®.

More specifically:

* When it comes to which ones of these industries are honest and trustworthy,
one-quarter of Americans (25%) say banks are honest and trustworthy while 14%
say the same of accounting firms and 13% say both life insurance companies and
financial planning firms are honest and trustworthy;
* Just over one in ten Americans say health insurance companies (12%) are honest
and trustworthy, while less than one in ten say the same about investment firms
(7%), mortgage companies (6%), Wall Street (4%) and credit card companies (4%);
* There is also a generational difference for this as almost two-thirds (64%) of
Gen Xers (those aged 33-44) and 61% of Baby Boomers (those aged 45-63) say they
do not consider any of these to be honest and trustworthy compared to 52% of
Echo Boomers (those aged 18-32) and 53% of Matures (those aged 64 and older);
* Three in ten Echo Boomers (30%) say banks are honest and trustworthy compared
to just 18% of Gen Xers; and,
* Americans with household incomes of under $35,000 are more likely than other
income groups to consider none of these industries honest and trustworthy (64%)
while less than half of those with household incomes of between $50,000 and
$74,999 (48%) feel the same.

So what?

The Obama Administration is trying to do everything in its power to shore up the
economic situation and respond to the crisis. One problem is that the industries
which will actually be working with the consumer to lend money or refinance
mortgages are in dire straits with Americans. There is a serious lack of trust
that has developed and until this trust is rebuilt, these financial industries
will be looked at with at the very least skepticism, but also scorn. It may take
years to see a rebuilding of at least some trust here.

Methodology

This Harris Poll® was conducted online within the United States between May 11
and 18, 2009, among 2,681 adults (aged 18 and over). Figures for age, sex, race,
education, region and household income were weighted where necessary to bring
them into line with their actual proportions in the population. Propensity score
weighting was also used to adjust for respondents` propensity to be online. Full
data tables and methodology are available at www.harrisinteractive.com.

These statements conform to the principles of disclosure of the National Council
on Public Polls.

J36305
Q790

The Harris Poll®#70, June 30, 2009
By Regina A. Corso, Director, The Harris Poll, Harris Interactive

About Harris Interactive

Harris Interactive is a global leader in custom market research. With a long and
rich history in multimodal research, powered by our science and technology, we
assist clients in achieving business results. Harris Interactive serves clients
globally through our North American, European and Asian offices and a network of
independent market research firms. For more information, please visit
www.harrisinteractive.com.

Harris Interactive Inc. 6/09

Harris Interactive
Carol Fricke, 585-272-8400
press@harrisinteractive.net

Copyright Business Wire 2009