They'll never disclose what the security issue is, I assume?
Bank of America Cut Off Finance Sites from Its Data
11–20 of 61 posts
Re: Bank of America Cut Off Finance Sites from Its Data
#12(Mins involved over 6 months logging into 8 different banking websites/apps) > (Mins for me to just move my money to a bank that supports aggregators)
The banks' ship has sailed on the presentation front. They need to concentrate on strong read APIs and novel ways for authentication.
Re: Bank of America Cut Off Finance Sites from Its Data
#13My credit union has an article on their FAQ on how to connect to mint :)
Re: Bank of America Cut Off Finance Sites from Its Data
#14Fuck it, I am going to build an open source project with the sole goal of automating access to all of these sites with selenium or something. Get ready for war(in the nice, data science-y way)
That's what these "finance sites" already do. That's why you have to enter your bank username and password to use them - they just scrape the website. Incidentally, I have never used one, because that requirement is completely insane.
I think the point was so that the banks couldn't block access via ip address. Each person would be able to aggregate their bank info on their home computer or they could secure their own server to do it for them constantly.
Re: Bank of America Cut Off Finance Sites from Its Data
#15There are solutions out there that the banks could use to allow their customers to have programatic access to their transactions (i.e. an API). OAuth 1.x and 2.0 both have ways to provide access to your data without you having to turn your password over to an aggregator (i.e. Mint). Banks have no incentive to evolve, the barrier to entry is so large (regulatory barriers) that there are not startup banks who could truly show the world what is possible.
Re: Bank of America Cut Off Finance Sites from Its Data
#16> Banks said they are within their rights to block or slow customers' access to their own financial data.
I find this mindset incredibly disturbing
Re: Bank of America Cut Off Finance Sites from Its Data
#17Reminiscent of taxi companies vs ridesharing companies. Trying to fight/shut down these services vs working with them (or even developing your own competing solutions) didn't end well for taxis.
Re: Bank of America Cut Off Finance Sites from Its Data
#18[deleted]
Re: Bank of America Cut Off Finance Sites from Its Data
#19Why don't banks implement read-only passwords?
1. Some do.
2. Some are trying to provide their own convenience systems as a competitive advantage over other banks, and to create costs for people switching out from them to a different bank. Supporting any method of aggregation where the bank becomes a dumb store of a money is disadvantageous to that strategy.
Re: Bank of America Cut Off Finance Sites from Its Data
#20BoA used to have its own aggregator, have they removed it?