“Bank grade security” used to mean something (Updated)

Recently Gizmodo ran a good, albeit lengthy, article titled “Here’s Why Your Bank Account Is Less Secure Than Your Gmail” on the topic of multi-factor authentication (MFA) and your bank. It also reminded me of another article from 2007 titled “Password Security – Or Lack There Of“. Sadly “bank grade security” used to mean the best of the very best, whereas now any digital security relating to financial institutions tends...