And doing so violates the terms of service with many banks:
> You agree that you will not authorize a third party to use the Service or share your credentials with a third party to use the Service on your behalf except in legally authorized situations such as legal guardianship or pursuant to a power of attorney.
I stopped using services like Coinbase that force you into Plaid. My final straw was getting a notification that I had to relink my accounts because I had changed my bank's password.
The banks are just as to blame. I'd love some basic non-SMS 2FA as a starting point, but sadly my bank is only the #6 largest in the US so they don't have the budget for it.
Oddly, BofA actually has mechanisms in place to allow non-credential sharing access to external services. Try linking a paypal account and you'll get a prompt from a Bank of America system that allows paypal to access all your banking details.
And doing so violates the terms of service with many banks:
> You agree that you will not authorize a third party to use the Service or share your credentials with a third party to use the Service on your behalf except in legally authorized situations such as legal guardianship or pursuant to a power of attorney.
* https://www.bankofamerica.com/online-banking/service-agreeme...