In cases where the password can be sent back to you, it has not been hashed - it has (hopefully!) been encrypted. Hashing is not a reversible action, in a broad sense. Once hashed, the only way to compare something to it is to hash that something in the same way and see if the hash is the same. You can never really "unhash" it.
In summary, it shouldn't be in cleartext. If they have it and can send it to you, it should be encrypted. Whether they should even keep an encrypted version is a point for a security consultant to debate. That said, it could be in cleartext. At the end of the day there is nothing special about "passwords", they are just character strings and can be stored as such - however because they form important keys to secure things, you hope they are handled properly.
The common way people think it should be done is to salt and hash it. I'm of the opinion this is the best commonly available way, if your hashing algorithm is good. There are things to be aware of, but it's way beyond the scope of this answer.
Best way to store password in database
Alarming story:
I once had a customer service representative from a broadband provider in the UK tell me what my password was... I get a little sketchy when people store my password in a reversible format, I get very concerned when they allow that password to be seen by customer service people, who are a point of weakness in secure systems. I have since left this provider for that very reason.