davidsyes's Journal: Lloyds' Bank able to read user passwords?

http://news.bbc.co.uk/2/hi/uk_news/england/shropshire/7585098.stm

"A man who chose "Lloyds is pants" as his telephone banking password said he found it had been changed by a member of staff to "no it's not"."

""But what really incensed me was when I was told I could not change it back to 'Lloyds is pants' because they said it was not appropriate.

"I asked if it was 'pants' they didn't like, and would 'Lloyds is rubbish' do? But they didn't think so.

"So I tried 'Barclays is better' and that didn't go down too well either.

"The rules seemed to change, and they told me it had to be one word, so I tried 'censorship', but they didn't like that, and then said it had to be no more than six letters long." "

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So, this is my position/question:

Why the HELL was a low-level functionary employee able to "see" the true password of a customer? The frackin password should have been a reduced or hashed form so that even if an IT person can copy and paste it in a local system, they could not know the contents and be able to type it in at a point of sales station or an ATM, or on any sites that reject copy-paste-in passwords...

Hmmm.

[Daengbo]

Stored in plain text? That would be funny.