Banks Go Quiet. Clients Go Negative

 Ad Age Digital  DigitalNext  MediaWork ( – Call it the Madoff Effect. Or the Bailout Backlash but only 8% of Americans have confidence in banks and other financial companies.

The U.S. financial crisis, no surprise, has cast the financial industry as greedy and indifferent to the daily struggles of everyday consumers—and the worst part is that the companies aren’t communicating with customers.

According to an alarming new study from independent PR shop Waggener Edstrom Worldwide and RT Strategies, almost half (44%) of the 1,000 consumers polled between Feb. 28 and March 2 said they have heard something from the industry, either through traditional or new-media outlets, but felt more negative about the industry after hearing it. Another 38% said banks and financial institutions haven’t communicated with them at all.

A mere 11% said they actually heard something from a bank or financial services company that made them feel better about the industry after hearing it.

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