[serverholic]

I specifically mentioned "Smart wallets".

These wallets are actually smart contracts. One major feature of these contracts are that you can swap out the security keys if certain conditions are met. For example, you can generate 7 recovery tokens such that you only need 5 of the tokens to replace your security keys.

There is nothing stopping bank of america from creating a smart wallet and keeping the recovery tokens. This would allow them to reset your keys if you lose them.