I take your point, and I’m sure you’re right about the banks’ rationale, but in my own view it does not seem like it should be the banks’ decision to make.

It just means you need to trust apps that you give root access to, or only give elevated privileges during the very specific times when apps need them. Root isn’t something people who don’t know what they’re doing should be messing around with, I guess. But I’d think a lot of people who root their phone know and accept the risks.

Isn’t saying that allowing apps to have root lets them access anything just describing what root is? A rooted phone doesn’t have to give superuser access to every app.