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I think you're prematurely jumping to the defense of this bank. What we do know is that the customer service rep was able to read the user's password in plainte

I think you're prematurely jumping to the defense of this bank. What we do know is that the customer service rep was able to read the user's password in plaintext. Even if there is a "legitimate" reason for storing in a retrievable format (probably due to compatibility with legacy systems) the fact that the customer service rep could access that password tells me they do not have appropriate access control.

bodhi_mind 7y ago
Just to play devil's advocate: What is a secure hypothetical way of granting access to an account when the customer lost access to their email and phone (so no pw reset or 2 factor authentication will work)? The bank has to have other processes in place. They're not going to keep your money from you. Let's say they accept a driver's license as authentication or a debit card. These methods are way less secure than a secret password and possibly introduce more security risk than a rep having access to view a password. A bad actor rep could then [almost] just as easily get a fake ID created to get the same access the password would have granted. I'm also assuming that the password was completely visible, not just a truncated version. This is the root of my concern of not knowing all the risks and processes involved. I don't want to jump to conclusions without knowing the whole ecosystem.