News about Charles Schwab

On October 16, Charles Schwab CEO Rick Wurster confirmed on Bloomberg TV that the firm is blocking unauthorized AI agents, such as Meta Muse, from executing transactions for clients. A weekly report shows Schwab blocking dozens of attempts by major AI agents to access and manipulate client funds. The firm separates informational access from transactional authority: its in-house assistant 'Charley' cannot trade, while external partner language models get read-only access through MCP servers that bar moving money. JPMorgan CEO Jamie Dimon said his firm also blocks outside agents from accessing customer-account information. The article notes there is no federal statute on agent liability, so financial firms are setting their own read-only standards and shifting risk management back onto themselves.