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A comment on FedNow FAQ. Parent comment

Re:FedNow FAQ by justusthane on Thursday August 18, 2022 @11:05PM (#32517241)
Plaid is a disaster waiting to happen—they store your banking username and password, and then use them to log in to your online banking on your behalf where they scrape the info they need.

I’m amazed banks put up with it.

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Re:FedNow FAQ by Tyrannosaur on Wednesday August 24, 2022 @01:00PM (#32582342)
The Plaid disaster hasn't waited- it's already started. They've already had to settle at least one class action lawsuit for deceptive practices

https://www.plaidsettlement.com/

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Re:FedNow FAQ by astrange on Friday August 19, 2022 @12:30AM (#32517555)
It'll use app-specific passwords or OAuth with banks that support that, and both of those can be secured well enough.
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