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Collection of Online Account Information

Just reading through the license.rtf document on my Quicken 2007 CD and found the above mentioned section. Does anything in that section concern anyone? Things like:

"Intuit may collect your online account information ("Account Information" as defined below) from providers and other sources of online information (these are referred to as your "Institutions")"

"In addition, for each of your registered Institutions accounts, we may collect your online Login Information."

"By providing Login Information to us, you expressly authorize us to act as your agent with limited power of attorney to access and retrieve Account Information from your Institutions accounts on your behalf."

etc... I really don't like giving anyone power of attorney and am wondering if I am being overly paranoid as I will want to use online banking functions. I currently use Microsoft Money 2004 and would like to migrate to Quicken as I think MS has destroyed a wonderfully useful program with their

2007 offering.

RD

Reply to
RD
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When you use Quicken to initiate online banking requests, the Intuit servers initiate and recieve banking information from your financial institution. If you do not wish to allow Intuit access to your online banking passwords, and do not wish to allow Intuit permission to initiate banking requests (the limited power of attorney) then do not use online requests within Quicken. It is entirely possible to access many financial institutions on their own websites, using a secure web browser. Be aware, however, that many of the time saving capabilities, such as downloading information directly into the software, may not be available outside of using the Intuit servers. It used to be that banks could provide QIF files for import into Quicken. But Intuit has disabled the QIF import function for bank and credit card accounts (for our protection, surely. And nothing to do with the fact that Intuit charges financial institutions for the use of their servers for direct download).

Just out of curiosity, what was done?

Reply to
L

I'm not a lawyer but I believe anyone (person or company) who collect person privacy information and puts it in a "database" is regulated by 5 USC 550(b). Please look it up and summarize for us.

RD wrote:

Reply to
Stubby

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