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Major U.S. banks move to block outside AI agents from customer accounts
JPMorgan Chase, Citi and Bank of America are restricting third-party AI agents from operating customer accounts, amid concerns over tools that log in with customers' credentials to move money and pay bills.
Major U.S. banks are moving to keep outside artificial intelligence agents from operating customer accounts, as consumers increasingly hand AI tools their banking credentials to carry out tasks on their behalf.
JPMorgan Chase is blocking external AI agents from directly operating retail customer accounts, CNBC reported. Under the policy, some agents can access certain customer data only in read-only form and cannot send money or pay bills. Citi and Bank of America announced their own restrictions on AI agents' access to customer accounts days later.
Charles Schwab CEO Rick Wurster said the brokerage also blocks unauthorized agents that try to log in on behalf of clients.
The banks' main concern is third-party tools that use customers' usernames and passwords to log in and act on accounts, which they say can expose sensitive data and funds to misuse.
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