U.S. banks block Meta’s Muse AI from moving money

Charles Schwab has announced it will block Meta’s Muse AI from moving money in its accounts. CEO Rick Wurster said the bot could act without the client’s control, raising liability questions. The firm will instead let external AI tools view balances through secure Model Context Protocol (MCP) servers and encourage use of its own assistant, Charley.

JPMorgan joins the ban

JPMorgan Chase has taken a similar stance. CEO Jamie Dimon said the bank will not allow outside AI agents to act inside its systems because of risk. The firm already lets third‑party tools read account data but not send funds or pay bills, and it warns against rogue agents.

Both banks report that they receive weekly blocks of AI agents, mainly big ones, in the tens or twenties. Clients have not yet been ready to hand passwords to an autonomous bot. Banks plan to allow external large language models to research accounts, not to move money, under strict authentication.