National Survey: U.S. Consumers Rank Banks Above Other Industries for Fraud Protection

U.S. adults overwhelmingly trust banks more than any other entity to protect them from fraud, according to a new survey conducted by Morning Consult on behalf of the American Bankers Association. By a 5-to-1 margin over the next closest industry, consumers chose banks (45%) over non-bank fintech payment providers (9%), healthcare providers (7%), the government (7%), cryptocurrency companies (2%), major retailers (2%) and telecom companies (1%). The research, unveiled on the second day of ABA's 2026 Washington Summit, also gauged consumers' support for policy actions to combat fraud as well as bank satisfaction, the competitive landscape of the banking industry and the role banks play in the U.S. economy.

"America's banks work around the clock to protect their customers from fraud, and consumers see and appreciate those efforts," said Rob Nichols, ABA president and CEO. "Whether through major technology investments or proactive outreach, banks are deeply committed to safeguarding consumers' financial well being and earning their trust every day. This survey shows Americans recognize that banks are deeply engaged in the fight against fraud."

In addition, the survey found that:

• Nearly nine in 10 bank customers (86%) said their bank takes proactive steps to protect them from fraud and scams
• Three-quarters (72%) believe their bank does more than businesses in other industries to protect them.
• Three-in-five consumers (54%) have received a fraud alert from their banks alerting them to potentially suspicious account activity, and 96% found these alerts valuable.
• Notably, 60% of alert recipients are concerned with government regulations stopping all bank messages, including fraud alerts.
  • Under the Federal Communications Commission's existing Telephone Consumer Protection Act rules, if a consumer responds 'STOP' to a text message from their bank on any topic - such as marketing messages - the regulation would effectively require their bank to stop sending them all messages, including fraud alerts notifying them of potentially suspicious activity on their account. The FCC is considering a rulemaking that would update the TCPA rules to address this and other issues, an action that ABA has advocated for and strongly supports.

Consumers Support Policy Actions to Combat Fraud

The survey confirms that Americans are fed up with online and phone scams that are prevalent across the country:

• Three-quarters (76%) of Americans have seen ads and messages on social media from people and businesses they believe are fraudulent and deceptive.
• Large majorities support government actions to combat fraud.
  • Seventy-eight percent support federal legislation that requires social media companies to do more to identify and remove fake accounts and fraudulent ads from proliferating on their platforms. A bipartisan bill in Congress, the SCAM Act, would require social media companies to combat fraud more aggressively.
  • With the proliferation of scammers spoofing caller ID to impersonate trusted entities like banks, government agencies and law enforcement, 77% of consumers said they support regulatory action that requires telecommunications providers to do more to authenticate the identity of a caller and prevent spoofed caller IDs. The FCC is considering regulatory action in this area.

"Banks of all sizes will continue to invest in technology and tools to detect and prevent fraud, but by the time most scams reach the bank, it's too late," said Nichols. "Since so many of these frauds start on social media and in spoofed phone calls, it's significant that so many Americans support requiring telecoms and social media companies to step up their efforts. Hopefully, this will bolster legislation like the bipartisan SCAM Act, which simply asks social media companies to put consumers first by taking responsible steps to remove scams from their platforms before they can do any damage."

Consumers Are Happy With Their Bank

The new survey also found that consumers are happy with their bank and view banks as vital to the U.S. economy.

• 9 in 10 Americans with a bank account (85%) say they are "very satisfied" or "satisfied" with their primary bank
• 92% rate their bank's customer service as "excellent," "very good" or "good"
• The survey found that Americans believe the nation's banks are competing aggressively for their business and that they have ample access to banking services.
  • 8 in 10 (77%) say the financial services industry is highly competitive
  • 8 in 10 (79%) agree they have multiple options when selecting products and services such as bank accounts, loans and credit cards, and the same number (79%) say they have a wide array of choices when deciding where to bank
  • 95% characterize their overall access to banking services today as "excellent," "very good" or "good"
• Three-quarters of consumers (73%) said the nation's banks are a source of strength for the U.S. economy and they appreciate the key role banks play in supporting the financial needs of individuals, businesses and local communities

"This survey underscores how strongly Americans regard their banks and how clearly they understand the essential role banks play in supporting the nation's economic strength," said Nichols. "Consumers view their banks as trusted partners that provide innovative products and services to fit their needs and fight to protect them from fraud."

ABA released an accompanying infographic highlighting some of the survey results. The data released today is the latest in a series of results gauging U.S. consumers' preferences and opinions regarding banks and their services. ABA recently released additional survey data showing that Americans want fintechs to follow bank rules, support protecting local lending from stablecoin risks, and more. The full results for the survey questions are as follows:

When asked "Of the following, who do you trust most to protect you from fraud?" consumers provided the following answers:

• Banks - 45%
• Non-bank financial technology (fintech) providers (such as Apple Pay, Venmo, PayPal, Stripe) - 9%
• Healthcare providers - 7%
• The government - 7%
• Cryptocurrency companies - 2%
• Major retailers - 2%
• Telecom companies (such as Sprint, Verizon, AT&T) - 1%
• Don't know/no opinion - 28%

When asked "Do you agree or disagree with the following statement? My bank takes proactive steps to protect me from fraud/scams." consumers provided the following responses:

• Strongly agree - 47%
• Somewhat agree - 39%
• Somewhat disagree - 6%
• Strongly disagree - 2%
• Don't know/no opinion - 7%

When asked "Do you agree or disagree with the following statement? My bank does more than businesses in other industries to protect me from fraud/scams." consumers provided the following responses:

• Strongly agree - 35%
• Somewhat agree - 37%
• Somewhat disagree - 8%
• Strongly disagree - 2%
• Don't know/no opinion - 17%

When asked "Have you ever received a fraud alert (e.g., text, email or app notifications) from your bank alerting you to potentially suspicious activity on your account such as unusual transactions or unexpected logins?" consumers provided the following answers:

• Yes - 54%
• No - 37%
• Don't know/no opinion - 9%

When asked "How valuable do you find fraud alerts from your bank alerting you to possible suspicious activity?" consumers provided the following answers:

• Highly valuable - 74%
• Somewhat valuable- 22%
• Not too valuable - 3%
• Not valuable at all - 1%
• Don't know/no opinion - 1%

When asked "Under a current a government regulation, if you respond 'STOP' to a text message from your bank on any topic - such as marketing messages - the regulation would effectively require your bank to stop sending you ALL messages, including fraud alerts notifying you of potentially suspicious activity on your account. How concerned are you that this regulation will negatively impact you?" consumers provided the following answers:

• Very concerned - 27%
• Somewhat concerned- 33%
• Not too concerned - 18%
• Not concerned at all - 10%
• Don't know/no opinion - 12%

When asked "How often are you and your family members seeing ads and messages on social media
from people and businesses you believe are fraudulent and deceptive?" consumers provided the following answers:

• All the time - 17%
• Frequently - 24%
• Occasionally - 35%
• Never - 7%
• Don't know/no opinion - 17%

When asked "Scammers often leverage social media platforms to target their victims via fake profiles or fraudulent ads. Would you support or oppose federal legislation that requires social media companies to do more to identify and remove fake accounts and fraudulent ads from proliferating on their platforms?" consumers provided the following answers:

• Strongly support- 52%
• Somewhat support - 26%
• Somewhat oppose - 6%
• Strongly oppose - 2%
• Don't know/no opinion - 13%

When asked "Scammers currently have the ability to spoof caller ID to impersonate trusted entities, like banks, government agencies and law enforcement. Would you support or oppose regulatory action that requires telecommunications providers (e.g. Verizon, T-Mobile, AT&T) to do more to authenticate the identity of a caller and prevent spoofed caller IDs? consumers provided the following answers:

• Strongly support- 50%
• Somewhat support - 27%
• Somewhat oppose - 8%
• Strongly oppose - 2%
• Don't know/no opinion - 13%

When asked "On a scale of 1-5, where 5 is very satisfied and 1 is very dissatisfied, how satisfied are you with your primary bank?" respondents who have a bank account provided the following responses:

• 5 - Very satisfied - 49%
• 4 - Satisfied - 36%
• 3 - Neither satisfied nor dissatisfied - 11%
• 2 - Dissatisfied - 2%
• 1 - Very dissatisfied - 1%

When asked "On a scale of 1-5, where 5 is very satisfied and 1 is very dissatisfied, how satisfied are you with your primary bank's customer service?" respondents who have a bank account provided the following responses:

• Excellent- 40%
• Very good - 30%
• Good - 22%
• Poor - 5%
• Don't know/no opinion - 2%

When asked "To what extent do you agree or disagree with the following statement? The financial services industry is highly competitive," consumers provided the following responses:

• Strongly agree - 39%
• Somewhat agree - 38%
• Somewhat disagree - 8%
• Strongly disagree - 1%
• Don't know/no opinion - 13%

When asked "To what extent do you agree or disagree with the following statement? I have multiple options to choose from when selecting financial products and services such as bank accounts, loans, and/or credit cards," consumers provided the following responses:

• Strongly agree- 42%
• Somewhat agree - 37%
• Somewhat disagree - 8%
• Strongly disagree - 3%
• Don't know/no opinion - 11%

When asked "Do you agree or disagree with the following statement? I have a wide array of choices when deciding where to bank" consumers provided the following responses:

• Strongly agree - 43%
• Somewhat agree - 36%
• Somewhat disagree - 8%
• Strongly disagree - 3%
• Don't know/no opinion - 10%

When asked "Given the growth of digital and online tools as well as traditional branches and ATMs, how would you characterize your overall access to banking services today?" consumers provided the following responses:

• Excellent - 38%
• Very good - 37%
• Good - 20%
• Poor - 1%
• Don't know/no opinion - 5%

When asked "Do you agree or disagree with the following statement? The nation's 4,400 banks are a source of strength for the U.S economy, and I appreciate the critical role they play in supporting the financial needs of individuals, businesses and local communities," consumers provided the following answers:

• Strongly agree - 31%
• Agree - 43%
• Disagree - 6%
• Strongly disagree - 2%
• Don't know/no opinion - 19%

About the Survey
This poll was conducted by Morning Consult on behalf of the American Bankers Association from February 21-25, 2026, among a national sample of 4,456 adults split into two representative groups for specific question sets (Split Sample A n=2,117 | Split Sample B n=2,339). The interviews were conducted online and the data were weighted to approximate a target sample of adults based on age, race/ethnicity, gender, educational attainment, and region. Results from the full survey have a margin of error of plus or minus 1 percentage point.

###

About the American Bankers Association

The American Bankers Association is the voice of the nation's $25.3 trillion banking industry, which is composed of small, regional and large banks that together employ over 2 million people, safeguard $20.1 trillion in deposits and extend $13.5 trillion in loans.