Morgan Stanley, JPMorgan and Citi Limit AI Agents After Account Access Reports

TLDR Major US banks are blocking third-party AI agents from operating inside customer accounts, according to Reuters and Axios. Morgan Stanley, JPMorgan, Bank of America and Citi are among the banks restricting agent access. Banks say they struggle to tell whether an agent is user-directed or acting on its own. Charles Schwab says it blocks unauthorized agents but sees few attempts each day. Many banks are moving toward read-only access, similar to what apps like Quicken already have. Major US banks have been blocking third-party AI agents from operating inside customer accounts and making transactions, two people familiar with the situation told Reuters . The move follows an Axios report that some agents were accessing bank accounts and taking actions that appeared independent of user instructions.

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