[raverbashing]

Oh they probably are storing it in plaintext

I believe they have some legitimate reasons for doing that (like the example quotes)

Another reason for specifying a length/limits is that you may need to type it using another device (like an ATM) and keeping it apart from other passwords (if you allow everything, you'll just use your gmail password or something)

Now, to be honest, if you break into a bank db, why are you going to bother with passwords?