Another change that Ally is making - They are requiring that you give them your cell number if you want to use online banking.
Here is the gist of the message:
As part of our commitment to your security, we’re removing the email option in the coming weeks because our team has identified a trend of fraudsters attempting to take advantage of security codes delivered to email. We ask for a security code when you log in from a device or location we don’t recognize.
We’ll be delivering your security code by SMS text message instead of email for a more secure delivery. To make sure you don’t lose access to online banking, we recommend that you log in and make sure you’ve got a phone number registered that can receive text messages.
Their excuse is the same for the other hoops they make you jump through, or paper that you must sign in triplicate in six places - for your protection. Ha! At best, it’s for their protection, at least according to their legal department. At worst, it’s because it’s easier / cheaper for them. Plus they get the added benefit of being able to spam your phone.
I’m leaving my CDs until they mature, but am moving my checking to Discover. I’m no big fish, but it will be a nice chunk of change that departs when the CDs mature.