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Banks` debt problems `worry consumers`
13 May 2008
While many consumers do not seem too worried about their own debt problems, many are concerned about the financial traumas facing their banks, a new study has revealed.
According to a survey by Fool, one in seven consumers is not convinced that their bank will not go bust.
However, a lack of understanding of the companies behind the banks may be behind the stress. A total of 27 per cent of Abbey customers expressed concern about the bank, despite the fact it is part of the third-biggest bank in Europe - Banco Santander.
David Kuo, head of personal finance at Fool, said: "Banks can play a huge part in calming customers and avert a run on another British bank.
"We therefore urge them to come clean over the size of bail-out that they accept from the Bank of England`s special liquidity scheme."
Public confidence in the banking system has wavered since the Northern Rock crisis last September.
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