US brokerages have decided AI doesn't get a seat at the money-moving table just yet. Charles Schwab and JPMorgan Chase have both confirmed they're blocking outside AI agents that try to log into client accounts and act on their behalf without the bank's say-so.
Schwab CEO Rick Wurster put numbers on it in a Bloomberg TV interview. His firm gets a weekly report showing tens of attempts by major AI agents — Meta's Muse among them — trying to reach client funds. "We don't want someone just giving their password to Muse, and letting Muse come in and take action on that client's behalf," he said. "We can't control it, the client can't control it, something could go wrong — and who's liable?"
JPMorgan's Jamie Dimon echoed the point on an earnings call, confirming his bank also shuts out third-party agents from customer account data.
Schwab isn't closing the door on AI entirely, though. Outside assistants get access only through MCP servers — a protocol that lets an agent check a balance or transaction history but never move money or place a trade. For clients who want automation, Schwab is pushing its own assistant, Charley, built on outside language models plus the firm's own data; for now it can update an address or a trusted contact, nothing involving trades or transfers.
Behind the move sits a gap nobody has filled: there's no US law yet spelling out who's on the hook when an AI agent mishandles someone else's money. Until regulators catch up, the banks are writing their own rules — and they're clearly not ready to share liability with a chatbot.
