Data Privacy Survey
This survey was conducted on behalf of Bank Policy Institute by Morning Consult.
The majority of consumers trust banks with data privacy
3 in 4 voters
are confident in the ability of their bank or financial institution to securely collect and protect their personal data.
Voters are 3x more likely to
trust banks and financial institutions to collect and protect their personal data than they are technology companies
(57% versus 18%).
Over 8 in 10 voters
support a national law that requires banks and financial institutions to notify customers in the event of a data breach
Voters support a national standard for data breach
Voters are supportive of their personal data being used for identity protection and fraud prevention.
Voters are 14x more comfortable with banks and financial institutions using their personal data for…
…than they are for personalized advertisements (4%).
Voters report banks and credit cards are most likely to help consumers during a breach.
Customers’ trust in banks is well earned: No industry is more regulated or subject to regulatory review and examination of their privacy standards.
Methodology: This poll was conducted by Morning Consult between February 27-March 3, 2019 among a national sample of 1994 Registered Voters. The interviews were conducted online and the data were weighted to approximate a target sample of Registered Voters based on age, educational attainment, gender, races and religion. Results from the full survey have a margin of error of plus or minus 2 percentage points.