According to a new Gallup poll, 48% of US adults are concerned about the safety of their money in banks. Of those, nineteen percent are "very worried." Turns out, Republicans, independents, those without college degrees, and people who are lower income are more concerned than others. Of course, the latter makes sense—even if not rational given the FDIC deposit insurance—because the less potential you have to earn money, the more disastrous it would be to lose what you do have. From Gallup:
These findings are from a Gallup poll conducted April 3-25, the month after Silicon Valley Bank and Signature Bank collapsed. News about the failure of a third bank — First Republic — came after the poll was completed. Most bank failures in the U.S. over the past two decades have been linked to the 2008 financial crisis, which was the last time Gallup gauged Americans' level of worry about their money held in banks or other financial institutions.
The latest readings are similar to those in 2008. In September of that year, shortly after the collapse of Lehman Brothers, which remains the largest bankruptcy filing in U.S. history, 45% of U.S. adults said they were very or moderately worried about the safety of their money.
