Multi-Factor Authorization Required every time Account Updated

I have worked on this MFA Required Action issue with Quicken Support for a month or two. My financial institution is Redstone Federal CU and I had been getting account updates without re-logging in up until sometime in October. I can get on demand (no additional login rqd) updates from my other financial institutions but not with Redstone FCU. This really does need to be addressed by the developers as it seems that the Support folks at Quicken have exhausted their tricks. This topic has a large thread on the Windows side of the fence too.

Answers

  • Quicken_TykaQuicken_Tyka Moderator ✭✭✭✭
    Hello @rushr1

    Thank you for taking the time to visit the Community to post your question, although I apologize for any concern that this change to a 2-factor authentication has caused.

    In regards to why a financial institution may move to an MFA protocol.

    As a defense against phishing attacks and other online scams, the Federal Financial Institutions Examination Council (FFIEC) has released guidelines that required financial institutions to strengthen their customer authentication measures for Internet banking transactions. As a result, many financial institutions are requiring identity verification beyond a customer ID and password when customers request online account access. This additional information is sometimes called multi-factor authentication, of MFA.

    https://www.quicken.com/support/provide-additional-authentication-requested-my-financial-institution

    If the financial institution has moved to require a 2 step verification to download transactions to Quicken, there is no action that Quicken can take to reverse this decision.

    I hope this clarifies.
    -Quicken Tyka
    -Quicken Tyka
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