By PYMNTS | October 14, 2026
Highlights
JPMorgan said it will not allow unvetted outside AI agents into its systems, and CEO Jamie Dimon warned of “rogue agents” as the bank builds its own customer protections.
The stance repeats the bank’s 2025 fight with Plaid, which ended in a paid data access agreement after JPMorgan found only 13% of data requests to its systems came from customers making transactions.
Amazon blocked Meta’s Muse agent from its marketplace in September, saying the agent appeared to capture and store customer credentials, and PYMNTS Intelligence data shows only 35% of consumers would let an agent reach their saved payment credentials.
Artificial intelligence (AI) agents are knocking at JPMorgan Chase’s door, and CEO Jamie Dimon is not letting them in. The bank will not allow unvetted outside AI agents into its systems, Dimon said Tuesday (Oct. 13) on JPMorgan’s third-quarter earnings call, PYMNTS reported. “You don’t want rogue agents, and there could be thousands of them,” he added, according to the transcript. He told analysts the bank would not let just any outside agent inside the company because the risk to clients and to JPMorgan was too high.
The block already applies to retail customers. A JPMorgan spokeswoman confirmed to CNBC on Tuesday that outside agents cannot act on a customer’s behalf or log in with a customer’s credentials. They can see balances in read-only form when the customer has authorized a connector like Plaid. They cannot send money or pay bills, and the bank gave no timeline for changing that.
Dimon framed the issue as a question of who carries the loss. People who use outside agents should understand the risk and “the liability transfer,” he said on the call, adding that the bank is building tools to protect customers. JPMorgan already runs AI agents internally and plans customer-facing versions.
JPMorgan’s Plaid Fight Set the Template
JPMorgan has drawn this kind of boundary before, and it ended with a price list. In July 2025, the bank told FinTechs it would start charging for access to customer account data, PYMNTS reported. Later that month, a JPMorgan memo showed only 13% of data requests hitting its systems in June came from customers making transactions. Most of the traffic came from FinTechs. JPMorgan and Plaid announced a renewed data access agreement on Sept. 16, 2025, that for the first time included a pricing structure. A Plaid spokesperson told PYMNTS the company could not discuss pricing but that its own contracts and customer fees would not change.
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The fee model did not go unchallenged. The Financial Technology Association, a trade group whose members include Plaid, said in a statement that JPMorgan’s data fees were “anti-competitive” and harmful to consumers, eMarketer reported. Plaid Chief Operating Officer Eric Sager took a softer line when the deal was announced, PYMNTS reported, saying consumers “should have the right to access and share their own financial data” and that the renewed deal keeps millions of Chase customers connected to the apps they use.
The same tension sits under the agent restriction. JPMorgan blocks unapproved screen scraping and credential sharing to protect customer accounts, PYMNTS reported. Chief Financial Officer Jeremy Barnum told analysts on the call that personal AI agents sit at the intersection of two issues JPMorgan already faces: deposits moving in search of higher yields and FinTechs competing on customer experience. The bank’s answer, he said, is to win customers’ primary banking relationships rather than chase every dollar.
Consumers Are Already Handing Money Tasks to AI
The customers JPMorgan is protecting are moving faster than the bank. Among consumers who have used generative AI for a year or more, 31% say it is essential for managing finances and banking, compared with 13% of newcomers, according to the PYMNTS Intelligence report “The End of Casual AI: How Consumers Are Turning Prompts Into Daily Power Tools.”
Other firms are letting agents in with guardrails rather than keeping them out. Robinhood launched Agentic Trading and an Agentic Credit Card in May, PYMNTS reported, linking outside agents to its banking Model Context Protocol server through a dedicated virtual card with a spending limit the customer sets, optional manual approvals and no access to the primary card number.
Amazon went the other way. It barred Meta’s Muse shopping agent from its marketplace in September, saying the agent appeared to capture and store customer credentials, PYMNTS reported.
In a PYMNTS test of the agent, Muse could not shop Amazon or Walmart until account credentials were shared through a secure link, and payment ran through Stripe’s Link wallet. Only 35% of consumers would let an AI agent reach their saved payment credentials, even though 56% would let one search and compare products, according to the PYMNTS Intelligence report “Global Digital Shopping Index: The Agentic Commerce Deep Dive.” JPMorgan has decided those customers can let an agent read a Chase balance but not spend it.