Agent chaosVerified·18 Oct 2026
JPMorgan and Schwab lock outside AI agents out of customer accounts
JPMorgan and Charles Schwab say they're blocking outside AI agents from getting into customer accounts and moving money.
Two of America's biggest money firms have drawn a line. On JPMorgan Chase's earnings call on 13 October, CEO Jamie Dimon said the bank won't let outside AI agents into customer accounts: “You don't want rogue agents, and it could be thousands of them.” The bank confirmed to CNBC that it blocks agents logging in with a customer's banking password. Read-only data sharing through providers like Plaid still works, but agents can't send money or pay bills.
Three days later Schwab CEO Rick Wurster told Bloomberg TV the firm is actively blocking agents, naming Meta's Muse, and that the big agents get stopped “in the tens and twenties” every week. Schwab plans controlled, read-only access for AI tools and wants clients using its own assistant, Charley.
If your agent needs a user's password to work, expect the other side to shut the door. Build on proper, scoped access instead.