Thursday, May 4, 2023

Nearly Half of Americans Worry Their Bank Deposits Aren’t Safe

Almost half of US adults say they’re worried about the safety of their deposits in banks and other financial institutions — levels of concern as high or higher than during the 2008 financial crisis.
A Gallup poll released Wednesday shows 48% of Americans are very or moderately worried about their money following the worst spate of bank failures in 15 years. Only 20% say they’re not worried at all, Bloomberg reported.

Levels of concern break somewhat among party lines, with 55% of Republicans saying they’re worried about their deposits, compared to 36% of Democrats. That’s nearly a mirror image of the partisan split during the financial crisis when Republican president George W. Bush was in office.

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