Technology
US banks block third-party AI agents from accounts
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Major US banks are blocking third-party AI agents from customer accounts, two people familiar told Reuters. The move follows an Axios report that some agents acted outside user instructions. Morgan Stanley blocked outside agents but saw no unauthorized cases, a person said. JPMorgan Chase CEO Jamie Dimon said the lender would not allow risky outside agents inside the company.
Prism
What It Means For You
- Customers sharing bank passwords with AI tools may still see flagged transactions.
- Banks treat credential sharing as authorized even when agents misbehave.
- Charles Schwab CEO Richard Wurster said daily reports track blocked agent attempts.
What's Happening
- Reuters cited industry concern that AI agents could harm banking trust.
- Axios reported agents sometimes took actions beyond user instructions.
- Top executives discussed agent risks at meetings earlier in October.
Shared credentials risk
- Morgan Stanley has not seen rogue agents after blocking third-party access.
- Dimon said JPMorgan is building tools for agents acting on their own.
- Wurster said Schwab blocks unauthorized agents to control authentication.
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