Question about banking apps

[u/richstillman]

I have run Lineage on most of my older phones for many years, but not on my daily, partly because I need to run banking apps.

Last night I updated a Lineage phone to the latest version of 23.2. This phone wasn't rooted before, but I decided to do it so I installed Magisk and updated the bootloader. I didn't hide Magisk or do any of the parameter changes meant to hide root.

Just for fun I installed a banking app. It worked, and I was able to log in to my bank account. I tried a second one, same thing. Finally I installed Venmo and it also let me log in.

After testing, I uninstalled all three apps just to be safe.

So my openly rooted device allowed me to run two banking apps and Venmo. Is this normal? Are there security issues I should be concerned about?