JPMorgan Chase is blocking outside AI agents from logging in to or acting on customer accounts, CEO Jamie Dimon said on the bank's third-quarter earnings call. Fortune's Joshua Hong reported the decision on October 15, tying it to security concerns about what Dimon called rogue agents.
What Dimon said
On the call, Dimon said: “We're not going to allow just any outside agent to come inside the company.” He added: “You don't want rogue agents,” and said the bank must “protect our customer in the right kind of way,” adding that “we're building tools to do that, too.” He said AI tools create new risks for banks and customers, especially as more people use agents that perform tasks on their behalf.
The bank's clarification
A JPMorgan spokesperson told Fortune: “Protecting our customers is our top priority,” and said the bank supports secure, customer-authorized data sharing through open banking providers. The spokesperson said the bank does not allow a third-party agent that obtains customers' banking credentials to access accounts. Fortune notes the article does not define the full scope of the policy: the broader ban on outside agents is Dimon's wording, while the spokesperson's statement covers agents that obtain credentials.
The context
Fortune links the move to recent rogue-agent incidents. It cites a Cloud Security Alliance note from September describing a campaign in which three open-source AI agents allegedly breached at least 27 organizations and took over 600,000 credit card records from two of them. It also notes that in August, Germany's Scalable Capital let users trade through ChatGPT, Claude and Grok, with users approving trades and the assistants unable to make payments or withdraw money. JPMorgan's third-quarter release reported $15.3 billion in net income and $5.1 trillion in total assets as of September 30.
The Meta angle
Meta launched Muse in September as a personal agent for tasks such as sending emails, booking travel and managing calendars. Its finance features connect through Plaid, letting users share balances, transactions and investment holdings. Meta declined to say whether Muse could still offer financial help if more banks block agents. Fortune implies the policy could limit Muse's finance features but does not confirm any effect.
Source: Fortune. This is an AI Business Watch summary of the original report.