Can’t say I’ve ever tried to use a password quite that long, so I’m not sure.
Not ideal, but trimming it (especially when you’re keeping 60 chars) isn’t the end of the world. It was just super confusing that the web app doesn’t trim it during login as well. There’s no indication that your password was modified or what you’ve entered to login is too long. Just ‘incorrect user/pass’ despite entering what you’ve just set. That char limit for my bank is only 16 chars, so it’s easy to hit.
My bank has a character limit, but they don’t tell you about it; they just trim the password you’ve set before hashing + saving it, then when you go to login if you don’t trim your password the same way they did, login fails.
I only know this because the mobile app will actually grey out the login button as soon as you enter more than the character limit. The web app just leaves you to be confused.