what were the email message headers - as in the FROM.... as I didn't get a copy -
Why would they filter the letter and it seems those in the know here in the Community seem to not have been informed about the letter......
I thought folks here in the Community would be interested in the letter from the CEO. Many kept wanting to hear from him during this Schwab mess. That's why I posted it..
Rocket J Squirrel said:
I can't agree with this:As a company, we are pleased to be partnering with forward-looking financial institutions such as Charles Schwab, which has taken the initiative and made the technology investments to move to a durable, secure, data connectivity system that will serve Quicken users for many years to come.Moving from Direct Connect to any form of Express Web Connect is a giant step in the wrong direction. If any of my principal FIs moves from DC to EWC, they will lose me as a client.
When I try to reset the connection, it says the express webconnect is from Capital One. I don't trust Capital One with my data/credentials. I disconnected all my schwab accounts and will update manually.
@Chris_QPW Schwab appears to be a Sustaining Member with FDX: -->https://financialdataexchange.org/FDX/The Consortium/FDX/The-Consortium/Members.aspx?hkey=362ecd23-b752-48aa-b104-a99e916276c8 These links seem to support some involvement with FDX: -->https://www.schwab.com/legal/public-security-tips-popup -->https://pressroom.aboutschwab.com/press-releases/press-release/2020/Charles-Schwab-Reinforces-Its-Commitment-to-Customer-Data-Protection/default.aspx
@Chris_QPW - I would agree with you that it introduces a bit of complexity. Usually, the FDX element is only relevant between the FI and the Aggregator. It will take some time for it to be functioning perfectly. After all, screen-scraping is not a perfect process. What I find most concerning is that most of the FIs have some provision that indicates that if you share your information with a third-party, any losses are not covered.https://www.pnc.com/en/personal-banking/banking/online-and-mobile-banking/online-banking-and-bill-pay-guarantee.htmlhttps://www.fidelity.com/security/customer-protection-guarantee
I certainly would hope that "screen-scraping" is done away with when going to this system. If not, then it is really a total loss.
Tom Young said:
I certainly would hope that "screen-scraping" is done away with when going to this system. If not, then it is really a total loss.Schwab's stated intent was to eliminate screen-scraping as the method of collecting data but whether this iteration achieves that or not isn't clear."As part of this effort, Schwab has joined a growing list of Financial Institutions, including the Financial Data Exchange (FDX), who have contributed and adopted new standards of data exchange with the intent to stop the practice of 'screen scraping'".