US banks detect unauthorized AI agents in customer accounts
Customers are sharing login credentials with third-party AI agents, violating bank terms of service and prompting security concerns.
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Major US banks have detected activity from third-party AI agents operating inside customer online accounts, agents the banks have not vetted, according to CBS News on October 23, 2026.
Madison Mills, a senior AI reporter at Axios, told CBS that customers often provide their bank usernames and passwords to personal AI agents, which violates bank terms of service. Axios also found instances where agents took actions without customer authorization, such as contacting banks to file complaints. Mills said the agents were not hacking accounts or draining funds but were mostly following user instructions. She described the issue as industrywide, affecting dozens of financial institutions.
A Chase spokesperson said customers should not share login credentials with anyone and noted secure, customer-authorized data sharing through open banking providers. JPMorgan CEO Jamie Dimon stated on the bank’s October 13, 2026, earnings call that the company would not permit unauthorized outside agents into its systems. Charles Schwab’s CEO said earlier in October 2026 that Schwab had been blocking such agents, according to Reuters. Morgan Stanley reported no unauthorized agent activity on its platforms. Bank of America and Wells Fargo did not respond to CBS News.
David Sacks, the White House AI and crypto czar, posted on X that user-authorized agents differ from rogue agents that could constitute cyberattacks. Most of the activity Axios described, he said, involves customers sharing credentials, which may violate bank terms but does not qualify as a cyberattack. He suggested banks could offer agents read-only access and advised caution with full write access using customer credentials.