Consumer confidence in the savings industry has plummeted, a poll by The Gallup Organization has found. More than a third of Americans believe that money deposited in a savings and loan is less safe than it was a year ago, Gallup found in a survey conducted for 100 Highest Yields, a banking newsletter.
Meanwhile, three out of four Americans think the average bank is safer than the average S&L. "That's despite the fact that banks and thrifts have the same deposit insurance and same regulator -- the FDIC," says 100 Highest Yields. Only 36 percent of those surveyed believe deposits at S&Ls are very safe, the survey found.