Major US banks move to block unauthorized third-party AI agents from customer accounts

Major US banks are moving to block unauthorized third party AI agents from customer accounts. Axios first reported that banks including Morgan Stanley, Bank of America, JPMorgan and Wells Fargo had detected unauthorized third party agents operating inside customer accounts, with some attempting actions that appeared to be independent of user instructions. Reuters said it could not immediately verify that report. Citi confirmed to USA Today and to the Daily Caller News Foundation that it does not permit third party AI agents or assistants to log into a customer's account or transact within its digital banking platforms, while preserving limited read only access through approved open banking providers. Wells Fargo confirmed to both outlets that it has taken steps to block unauthorized agents.

The confirmed position is narrower than the original detection claim. Citi told USA Today it has not seen reports of agents accessing client accounts, and an industry source told the Daily Caller News Foundation that the immediate concern is customers voluntarily sharing their banking credentials with third party AI tools, with no evidence yet of an agent instructed to perform one task independently carrying out another. Bank of America and JPMorgan Chase executives have separately said in recent Bloomberg interviews that they are restricting or blocking outside agent access, and Charles Schwab says it is blocking attempts by major AI agents to access client funds.

Sources: USA Today; Daily Caller; Reuters