President Andrew Jackson opposed giving the bank a new charter because he saw the Second National Bank as an elitist institution whose first priority was to gain profit and not public service.
The voting public reaction to Jackson's vetoing the renewal of the Second National Bank Charter was positive even though he lost a lot of voters from the wealthy class he gained votes from the working class like farmers and laborers. He won the re-election in November 1832 although it was a tight contest.