tadamsmar wrote:I have the impression that a user of Treasury Direct is up the creek if someone steals their login credentials and removes money from their account. Is that true?
I know a few TSP users lost money this way a few years back. The Feds don't seem to have a commitment to make a customer whole if they are subject to fraud.
Vanguard and other mutual funds seem to have a somewhat better policy. If you are reasonably careful with your login credentials and someone gains access to your account and you report a theft in a timely fashion, then I am pretty sure Vanguard would make you whole.
Here's the law, in black and white.Code of Federal Regulations
31 CFR 363.17
MONEY AND FINANCE: TREASURY CHAPTER II--FISCAL SERVICE, DEPARTMENT OF THE TREASURY PART 363_REGULATIONS GOVERNING SECURITIES HELD IN TREASURYDIRECT--Table of Subpart B_General Provisions Governing Securities Held in TreasuryDirect Sec. 363.17
§ 363.17 Who is liable if someone else accesses my TreasuryDirect®account using my password?
You are solely responsible for the confidentiality and use of your account number, password, and any other form(s) of authentication we may require. We will treat any transactions conducted using your password as having been authorized by you. We are not liable for any loss, liability, cost, or expense that you may incur as a result of transactions made using your password.