This is the definition of 'security theater': take off your shoes, spin around, hop on one foot. Many consumers mistake having to jump through hoops over a flaming pile of poo for 'more secure'. So it goes. :(

Edit: I'm a U.S. CapitalOne customer, and I just know that if they do that to my login, I will close my account faster than you can say, “Warning: do not tick”. Good security doesn't need to be a hassle. And I'm happy to find another company that actually understands that.

Honestly don't all of the US banking and credit card companies do this sort of 'security theater'? While this seems pretty absurd, I'm not aware of any that don't have mediocore to poor password practices.

Simple.com is pretty awesome. I'm sure there are others as well, but yes -- they are in the minority. :/