The article argues that major banks are pursuing two contradictory paths: building open standards that let AI agents access accounts while locking those agents out in practice. Bank of America and Wells Fargo appear both on the roster for the Personal Agent Protocol (Poppy), announced by Sierra and Meta, and on the list of firms restricting third-party AI access. The protocol proposes permission levels from fully blocked to full access, but payments remain outside its core specification. Meanwhile, JPMorgan Chase, Bank of America, Citi, Schwab and Wells Fargo moved to restrict third-party agents, citing concerns about rogue agents, the need for human approval of money movements, and unclear liability. The article describes this private self-regulation as filling a gap left by missing legislation.
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