Charles Schwab NEW security risk--

Bobcat69 · November 2021

When I went to update my Charles Schwab accounts thru Quicken - There is a NEW form that I must agree to before Schwab will allow Quicken access to my accounts .

It states that by allowing Quicken "access" to my accounts - Schwab will NO LONGER offer the 100 % Schwab guarantee for unauthorized trades and or fraud to YOUR ACCOUNT . I have NEVER seen this type of " disclosure " from any other financial entity.

In other words -- it appears as though they are " covering their azz "
FWIW- I have been a user of Quicken since the 90's

Link www.schwab.com/legal/third-party-terms

Chris_QPW · November 2021

This is an interesting section considering that the main reason given for this change is so that the aggregators don't have your username/password any more, only a "certificate". Note that with Direct Connect Intuit never had your username/password, but Charles Schwab is treating this connection like all the other aggregators they deal with and as such for the others it is more secure.

Image: https://us.v-cdn.net/6031128/uploads/editor/2e/nwpyd07biaod.png

BTW I think at least for the other aggregators this was always in place, but just hidden down in the documents, and isn't really as much a change in policy as making it more visible.

mitch.trumpetwin · November 2021

https://pressroom.aboutschwab.com/press-releases/press-release/2020/Charles-Schwab-Reinforces-Its-Commitment-to-Customer-Data-Protection/default.aspx

Charles Schwab NEW security risk--

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Charles Schwab ** NEW ** security risk--

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Charles Schwab NEW security risk--