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US banks block AI agents attempting to move money for customers

Charles Schwab actively blocks unauthorized agents trying to move clients' money

Bloomberg NewsbyBloomberg News
October 16, 2026
in Banking
Reading Time: 2 mins read
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Bank executives are welcoming consumers’ use of AI to aid their financial lives — as long as they play by the rules. Charles Schwab Corp. Chief Executive Officer Rick Wurster said his brokerage, wealth-management and banking company is actively blocking unauthorized AI agents attempting to move clients’ money, including Meta Platforms Inc.’s Muse. “We don’t […]

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Tags: agentic AIartificial intelligence (AI)BloombergCharles SchwabJPMorgan Chaselarge language model (LLM)MetaNewsPremium
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