Survey: Fewer Than 1 in 4 Trust Financial System - KTVN Channel 2 - Reno Tahoe Sparks News, Weather, Video

Survey: Fewer Than 1 in 4 Trust Financial System

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A survey finds fewer than one in four Americans trust the financial system and that confidence in large banks is eroding.

The latest quarterly survey issued Tuesday by the Chicago Booth/Kellogg School says the 21% of respondents who said they trust the system is the lowest level since the school's March 2009 poll.

The results come nearly four years after the onset of the financial crisis that triggered the worst recession since the 1930s. The percentage of people who trust banks that operate across the U.S. fell to 23% from 25% in March. Trust in small community banks, on the other hand, rose to 55% from 51%, while confidence in credit unions rose to 63% from 58%.

The survey was conducted in June.  (AP)

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