Ask HN: A major USA bank is storing passwords in cleartext – what to do?
 &gt; The service rep proceeded to (accurately) describe my own password to me.<p>Wait, that <i>alone</i> doesn&#x27;t necessarily indicate that they&#x27;re storing clear text passwords. I notice you didn&#x27;t say that they just repeated your password to you-- why do you think they store the whole thing in clear text?<p>HN readers are apt to demand hardcore passphrases, salting, 2FA, etc. But the reality is that banks have to deal with all kinds of people and situations. Your security as a bank customer hinges on more than just one password, it&#x27;s also about monitoring patterns of behavior, being aware of what&#x27;s coming and going from your account, and protection mechanisms like the bank&#x27;s insurance.<p>That said, one would think that large institutions have learned their lesson about clear text passwords, perhaps this one hasn&#x27;t? Is there a law against clear text passwords? How does anyone actually know if a financial institution has sound IT practices, by happenstance incidents like this? Really?