Why Americans' Trust in Financial Institutions Is in Sharp Decline

http://www.thestreet.com/story/13533187/1/why-americans-trust-in-financial-institutions-is-in-sharp-decline.html

Single digits.

That's how low the percentage of consumers who trust U.S. financial institutions has declined, according to a new study from The National Association of Retirement Plan Participants.

Specifically, consumer trust in banks, brokerage, insurance and other financial companies has fallen from 13% in 2015 to just 8% today.

But you might be surprised where Americans place blame.

This from the study: "The sharp decline in generalized trust in financial services companies, including banks, mutual fund companies and retirement plan providers, has been linked to peoples' lack of confidence in their own ability to make financial decisions (especially on retirement issues)." 

Of course, there is plenty of blame to be placed at the feet of Wall Street and the financial industry, too.