Nearly half of Americans are nervous about the security of their money that they have put with banks, according to a recent Gallup study.
48% of American adults say they are worried about their finances, with 19% saying they are “very” anxious and 29% saying they are “moderately” worried. Meanwhile, 30% of people say they are “not too worried” and 20% say they are “not worried at all”.
These results come from a Gallup survey that was carried out between April 3 and 25, one month after Silicon Valley Bank and Signature Bank failed. After the poll was over, word spread that a third bank, First Republic, had failed. The 2008 financial crisis was the most recent time Gallup measured Americans’ degree of concern about their money stored in banks or other financial institutions, and it has been related to the majority of bank failures in the United States over the preceding 20 years.