Schwab, JPMorgan and Citi Block AI Agents That Log In With Your Password
Book: AI Agents Pocket Guide Also by me: Thinking in Go (2-book series) — Complete Guide to Go Programming + Hexagonal Architecture in Go My project: Hermes IDE | GitHub — an IDE for developers who ship with Claude Code and other AI coding tools Me: xgabriel.com | GitHub Every week, Charles Schwab's CEO gets a report on AI agents his firm turned away. According to Forkast , that report shows…
Schwab, JPMorgan, Citi and Bank of America have taken steps to prevent AI agents from logging in with users' passwords. These moves were announced after the CEOs of Schwab, JPMorgan, and Citi received reports on how many times AI agents attempted to access client funds. Meta's Muse was cited as one such agent that was blocked by Schwab on October 16.
Muse is a personal agent launched by Meta in September that can fill out forms and negotiate for the person who set it up. Schwab CEO Rick Wurster stated that the company does not want clients to give their passwords to Muse. JPMorgan CEO Jamie Dimon also shared similar concerns on the third-quarter earnings call, stating that the company would not allow any outside agent to access its systems due to the high risk it poses for customers.
Citi, on the other hand, has reportedly barred third-party AI agents from logging into client accounts and performing transactions, while allowing limited read-only access through certain open-banking providers. Bank of America has also restricted agent access while working out liability issues. The banks have not shut off customer-authorized data sharing through open banking, but have blocked agents that hold customers' passwords and move money.
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