2024 Annual American Banker Study

The 2023 banking crisis led to the industry's largest reputational setback in years, but now, banks are making meaningful progress in regaining public trust. According to the annual reputation study that RepTrak performs in partnership with American Banker, this recovery is highlighted by a double-digit increase in confidence, with regional banks leading the way. Today, 50% of regional bank customers report complete confidence in their bank’s financial stability — a remarkable increase from last year’s 39%.

At the same time, the banking industry’s Reputation Score climbed to an Average 67.8, a modest 0.7-point YoY improvement. 

With past breaches of trust still fresh in their minds, stakeholders are approaching the banking recovery with cautious optimism.  They are calling for greater reform, with increased interest in government regulation and a strong focus on ethical and sustainable business practices. This makes it clear that that despite the positive shift in perceptions, the public has not forgotten the crisis. They expect banks to implement responsible measures that will prevent similar challenges in the future, and only those institutions that prioritize transparency and ethics will continue to earn lasting trust. 

Read the full article from American Banker.