Banks and Reputation in 2017

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    Banks are still working to rebuild their reputations following the financial crisis and, luckily for them, the phony-accounts scandal that erupted at one of the nation’s most prominent retail banks did not drag down the broader industry.

    While Wells Fargo’s image is in tatters — and will likely remain so for some time — what people think of banks in general continues to improve, according to the latest American Banker/Reputation Institute survey.

    The 2017 survey revealed that the banking industry overall extended its multiyear reputation recovery among U.S. consumers, achieving a reputation score that qualified as “strong” (above 70 on a 100-point scale) for the first time since the Survey of Bank Reputations began in 2011.

    Overall bank reputation rankings for 2017

    For more resources, see the Free Management Library topic: Crisis Management

    [Jonathan Bernstein is president of Bernstein Crisis Management, Inc., an international crisis management consultancy, author of Manager’s Guide to Crisis Management and Keeping the Wolves at Bay – Media Training. Erik Bernstein is vice president for the firm, and also editor of its newsletter, Crisis Manager]