It doesn't bother me except that it seems weird: why, when I'm running One Step Update for all my accounts, do I need to enter my vault password. But, if I "Update Now" on a single account, no password is needed?
These days only Direct Connect accounts require a password because for Express Web Connect the password is stored at Intuit (Quicken Inc's aggregator) and Express Web Connect + doesn't use passwords, it uses rotating security tokens exchanged between Intuit and the financial institution.
If you don't have any Direct Connect account, you can delete the Password Vault and Quicken won't ask you for a password when running One Step Update.
@EmKay if you run a "Update now" before you run an OSU, or anything else that requires a vault password, you will need to enter your vault password. It seems like you don't need to enter your vault password because the "Update now" is usually run after an OSU where you would have entered your vault password already. Bottom line, you only need to enter your vault password once per Quicken session.
Thanks - but I ran the individual update before running an OSU and was NOT prompted. @Chris_QPW 's answer makes sense, though, as the account in question is an Express Web Connect account, and I do still have Direct Connect accounts.
Ok I was close, lol. Most of my accounts are still DC. I try not to use EWC or EWC+, but whenever DC is not available, I use WC.