Five major US banks restrict AI agents' access to accounts; JPMorgan Chase only opens read-only queries
Five major US banks including JPMorgan Chase and Citibank are tightening third-party AI agents' access to accounts, separating viewing data from moving funds. JPMorgan Chase allows limited read-only information queries through intermediaries such as Plaid, while Citibank explicitly does not allow third-party AI agents to log into accounts or trade within the app. JPMorgan Chase CEO Jamie Dimon warned on an earnings call that thousands of rogue AI agents may lurk on financial platforms, and Charles Schwab is reportedly planning to set strict permissions for AI through MCP servers.
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The five major US banks draw a boundary between read-only and transactional access for AI agents, reflecting financial institutions' trade-off between open data and risk control.
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Recently I came across a report Axios released in October 2026, and after reading it I felt a chill down my back.
Why? Because banks detected "Rogue AI Agents" automatically operating inside accounts in their systems.
This isn't a few banks making a fuss over nothing; regulators in various countries have also begun tightening the permissions for tech platforms to access financial data.
Because banks' current security systems have a huge authentication gap.
It's like giving your nanny a key. But the bank doesn't know whether the one coming in is the nanny, or a thief wearing the nanny's clothes.
JPMorgan Chase CEO Jamie Dimon directly warned on an earnings call: thousands of rogue AI agents may be lurking within financial platforms.
For example, you ask it to check your deposits, and it decides the boss is short on money lately, so it turns around and redeems your wealth management products for you.
Now the attitude of these five major banks is very clear: we must separate viewing data from moving funds.
JPMorgan Chase allows limited, read-only information queries through intermediaries like Plaid.
Citibank made it explicit: third-party AI agents are absolutely not allowed to log into accounts, let alone trade directly in the app.
Xiao Lei Bibi (ID: xiaoleibbb) believes this is the bottom line financial institutions should have.
Currently the industry has a compromise solution: restricted permissions.
For example, Charles Schwab is reportedly planning to set extremely strict permissions for AI through a server called Model Context Protocol (MCP).
Honestly, after seeing the actions of these five major banks, the banks playing the bad guy this time is actually protecting your wallet.
Many carefree users just fill in their account and password directly. You think it's saving trouble, but you're actually running around naked.
Technology can race ahead, but the bottom line must be welded shut.
This article was compiled by Lei Technology from gadgetreview