Fear and trust in financial institutions

A content analysis

Authors

  • Isha Chawla Department of Family Science, University of Maryland
  • Mia B. Russell Center for Leadership Education, Johns Hopkins University
  • Kenneth J. White Norton School of Human Ecology, University of Arizona
  • Sharon A. DeVaney College of Health and Human Sciences, Division of Consumer Sciences, Purdue University

DOI:

https://doi.org/10.61190/fsr.v31i2/3.3541

Keywords:

Trust, Knowledge, Financial institutions, Fear, Banks

Abstract

Financial institutions are pillars of the economy and play an important role in consumers’ daily lives. As such, trust between financial institutions and the consumers they serve is of paramount impor- tance. Using an online survey administered during the COVID-19 pandemic, this paper uses a qualitative content analysis methodology to explore consumer fear and trust in financial institutions. Stemming from fear of loss, three themes emerged: (1) history and experience, (2) perceived unfair practices/lack of knowledge of banking, and (3) general trust issues. Implications for financial institu- tions are presented based on these results.

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Published

2023-12-15

How to Cite

Chawla, I., Russell, M. B., White, K. J., & DeVaney, S. A. (2023). Fear and trust in financial institutions: A content analysis. Financial Services Review, 31(2/3), 211–228. https://doi.org/10.61190/fsr.v31i2/3.3541

Issue

Vol. 31 No. 2/3 (2023): Summer-Fall 2023

Section

New Original Submission

License

Copyright (c) 2023 Isha Chawla, Mia B. Russell, Kenneth J. White, Sharon A. DeVaney

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