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Get your taxes done using TurboTax
Of course it does. Schwab will not lock you out of your normal account or you would not be able to change the login ID and/or password. They probably grandfathered the old login for the regular account but the independent server for imports only is a different server and the user ID/password check is not grandfathered for that. TurboTax can only check the ID/password according the the rules provided by Schwab. When you log in to the normal account it will probably suggest that you update your ID and password (which you need to do if you want to import).
Like I said, what I posted is *from* the Schwab website and I posted the Schwab link - not much more that TurboTax can do to help you because it is not a TurboTax issue - contact Schwab if you have an issue with Schwabs rules.