I did this once (only I sent it via snail mail packet) but then the bank happily sent me the fully filled out application for my signature ... in a pdf ... via email.

I was horrified. My name, my wife's name, our address (past and present), ssn, all my account balances and numbers for every financial thing I own -- every single piece of the most sensitive personal information I have in one convenient package in an unencrypted email.

I sent a very terse message conveying how upset I was that they did this but they literally just said, "We've never had a problem doing it this way."

Needless to say I stopped doing business with that mortgage company.

I think it is sad but without a law I don't see financial institutions changing. Even then just look at how they interpreted the "multi-factor authentication" law ... site key, really?