Banks’ reputation make big comeback

The American public has a positive view of the banking sector for the first time since the financial collapse, according to a new poll.

Gallup reported Friday that both the banking and real estate industries, central to the epic collapse, have now climbed back into favor with the American public. According to the poll, banks now have an eight percent net positive rating, and more Americans view the sector favorably than not for the first time since 2007.

{mosads}Bank favorability fell to a drastic low in 2009. Bailout anger was at an all-time high and the sector faced a negative 40 percent approval rating.

Banks’ reputations lingered in the basement for several years, but have made steady gains recently. The industry posted 18 percentage point gains in each of the last two years as it surged back into positive territory.

The real estate industry’s reputation took a big hit from the subprime mortgage crisis, but it too is now back in positive territory for the first time since 2006.

However, the banking and real estate industries still lag behind other business sectors in terms of public favorability.