Charles Schwab and JPMorgan Chase are blocking outside AI agents from taking financial actions such as moving client money, citing security risks and unclear liability if something goes wrong. Schwab CEO Rick Wurster said the firm is actively stopping unauthorized agents, including Meta's Muse, and that these blocks happen many times a week. Instead of cutting AI off entirely, Schwab plans secure connections through model context protocol (MCP) servers that would let clients' chosen AI models view permitted information, such as balances, without moving money, and it wants customers to use its own assistant, Charley. JPMorgan takes a similar approach, letting outside tools view account data while blocking them from sending money or paying bills. The moves come as US and European regulators press banks on AI agent risks.
Summary written by Upside AI from the original article. Read the source for full details.
Original headline: US banks want to block AI agents from moving your money. Well, at least that’s one good move.
Read the original on Yahoo Finance ↗
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banksartificial intelligenceregulationJPMorgan
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JPM
• NeutralJPMorgan Chase
Relevance: low
| Market | US stocks |
|---|---|
| Sector | Financials |
| Industry | Diversified Banks |
| Market cap | $891.9B |
| Close on 10/19/2026 | 333.53 |
| Change that session | -1.82% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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