We don't know whether our financial information is leaking out. We don't trust bank. So we choose decentralized anonymous cryptocurrency.
I have a suspicion one day Coinbase or BitPay might have a huge data breach of their own. They seem quite happy about logging info on people, so it's probably just a matter of time.
They have to keep this information to remain AML/KYC complaint. If they do not then they would be shut down regardless. I do however agree that they are likely not experienced enough to house this kind of data securely
Coinbase has access to all their customers credit profile and detail financial information.