Major US banks are locking out AI agents that log in with customer credentials

Several major US banks, including Morgan Stanley, JPMorgan, Bank of America, and Wells Fargo, are restricting external AI agents that use customer-provided credentials to access accounts, Axios reports, citing bank policies that require account holders to log in personally. Morgan Stanley already blocks AI agents entirely, and JPMorgan, Bank of America, and Citi are doing the same, with most banks wanting to limit agents to read-only access because the security risks are too high for now. Many banks also can't tell whether an agent is acting on a user's behalf or accessing an account on its own, and blocking such access on the provider side will be hard.