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> How is that even legal? It's worse than that. Several banks tried to enforce in their terms and conditions that sharing your bank login data would be a breac
by Tainnor 5y ago
> How is that even legal?
It's worse than that. Several banks tried to enforce in their terms and conditions that sharing your bank login data would be a breach of contract or at least absolve the bank of any liability. This was deemed in violation of antitrust laws for some reason, so now banks have to actively allow this which is just brain-dead IMHO.
The only upside of this is that we now have PSD2 now anyway, so the damage that can be done by someone who has your login credentials is limited.
- mdaniel 5y agoFor others wondering what PSD2 is: https://en.wikipedia.org/wiki/Payment_Services_Directive https://en.wikipedia.org/wiki/Payment_Services_Directive and there were also a lot of "what is it and how does it affect you" articles from name brand bank websites, too, but I figured start here
- samhw 5y ago> This was deemed in violation of antitrust laws for some reason My best guess at what that "some reason" may be is that it breaks shoddily built integrations like [Teller](https://teller.io/ https://teller.io/), which, instead of using schemes like Open Banking where available, simply rely on credential sharing.
- gmokki 5y agoIn Finland it is illegal to give your bank login data to others, including scrapers. One couple both got sentenced when the other used the bank login data left on table to order something online. Fraud for the other and neglegence of leaving the login data easily accessible for the other.