Requirement to collect personal data

Why am I asked to provide my Social Security number (SSN) when creating my account?  

Federal law requires us to collect information to verify the identity of each customer.

When you apply, you will need to provide your full legal name, U.S. physical address, date of birth, Social Security number, phone number, email address, and possibly a copy of your government-issued photo identification or a utility bill.

This information helps us maintain the security of your data, fight fraud, and ensure we're legally allowed to provide you with financial services.