When linking a bank account, one of the options on Venmo is to provide the username and password of your online banking account. I can't seem to find people criticizing this practice, which surprises me, since I feel like it goes against every rule of credential security.
Wouldn't Venmo have to store the password in plaintext to use it, i.e, send it on to my bank for verification? Wouldn't that create inherent vulnerabilities? How is this an acceptable business practice? Am I missing something?