On a live stream on Oct. 26, Bianco Research president Jim Bianco said banks that block outside AI agents from customer accounts are protecting their own profits rather than customers. He pointed to JPMorgan Chase, whose CEO Jamie Dimon cited the risk of “rogue agents” on Oct. 13, and noted that Citi, Bank of America, Wells Fargo and Charles Schwab have also limited third-party agents. Bianco said banks profit from deposits that pay customers nothing, citing $4 trillion in zero-yielding accounts, while FDIC data showed about $4.04 trillion in noninterest-bearing deposits at U.S. banks at the end of June, roughly 21% of domestic deposits. Co-host Ram Ahluwalia agreed on the motive but cautioned against overstating the risk of deposit flight, since frictions such as opening a new bank account remain. Wells Fargo’s revised agreement, effective Nov. 24, makes customers responsible for authorized agents’ actions until they revoke access.
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banksartificial intelligenceJPMorgandeposits
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Related tickers and likely impact
JPM
• NeutralJPMorgan Chase
Relevance: low
| Market | US stocks |
|---|---|
| Sector | Financials |
| Industry | Diversified Banks |
| Market cap | $894.6B |
| Close on 10/27/2026 | 335.79 |
| Change that session | +0.52% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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