More gulf than deficit on trust in banking
Australian consumers rank financial services as the least trusted industry, behind pharmaceutical, technology, telecommunication companies, and the Federal Government, a survey shows.Yell Creative and YouGov surveyed 1500 Australian consumers, of whom "33 per cent indicated they do not trust the financial services industry at all."?Yell said that when they asked the same question of over 250 senior financial services marketers, "the result was almost the direct opposite, with financial services ranking second behind technology companies."They said that "in verbatim comments, consumers said financial services firms put the business's needs ahead of the best interests of the consumer, and highlighted a lack of transparency around fees and charges."