Five biggest TBTF banks are among least reputable companies in America
Harris Interactive’s annual “Reputation Quotient” survey for 2013 finds that the five biggest “too big to fail” (TBTF) U.S. banks have some of the lowest reputations in the country according to their survey of the general public. All five of them are ranked in the lowest eight slots among the sixty most visible companies measured.
The maximum “reputation quotient” is 100. Any quotient lower than 64 is considered to be “poor” and anything below 50 is considered “critical”. All of the big five TBTF banks scored lower than 64 and Goldman Sachs is below 50, so its reputation is in “critical” condition.
Bank of America and JP Morgan have seen some improvement in their score this year, but their reputation still falls into the “poor” range.
Harris Interactive also ranks industry reputations. The banking and financial services industries rank above only two other industries: government and tobacco. Banking and financial services have improved over last year, however, by seven and eight percentage points, respectively. Technology, travel and retail are the top three.
This poll has been published for fourteen consecutive years. This year, more than fourteen thousand interviews were conducted for data collection.
Bank Size (1 is the largest)
Harris Reputation Index
FFIEC – Top 50 holding companies (HCs) as of 12/31/201
relbanks.com – The Largest US Banks
The Harris Poll 2013 RQ® Summary Report – A Survey of the U.S. General Public Using the Reputation Quotient® (This file is a PDF)