The Korea Herald


[Graphic News] Nearly half of Americans worry their bank deposits aren’t safe

By Nam Kyung-don

Published : May 18, 2023 - 08:01

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Almost half of US adults say they’re worried about the safety of their deposits in banks and other financial institutions — levels of concern that are as high or higher than they were during the 2008 financial crisis.

A Gallup poll shows 48 percent of Americans are very or moderately worried about their money following the worst spate of bank failures in 15 years. Only 20 percent say they’re not worried at all.

Levels of concern break somewhat among party lines, with 55 percent of Republicans saying they’re worried about their deposits, compared to 36 percent of Democrats. That’s nearly a mirror image of the partisan split during the 2008 financial crisis when Republican President George W. Bush was in office.

The telephone survey of 1,013 US adults was conducted April 3 to April 25 — following the failures of Silicon Valley Bank and Signature Bank the previous month but before the collapse of First Republic Bank. The margin of error is plus or minus 4 percentage points. (Bloomberg)