The chief executives of Bank of America and PNC Financial expressed concerns on Tuesday about how well financial management sites protect customer data, arguing that the sites could pose a risk to the banks as well as their customers.
The comments, made at a conference in New York, come amid growing tensions between banks and financial management companies, also known as data aggregators. These companies, which include Mint.com and Yodlee, use bank account information provided by customers to pull their data from bank sites through a method called screen scraping.
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