Schwab and JPMorgan move to stop unapproved AI agents moving money
Rick Wurster, chief executive of Charles Schwab, says AI tools trading for investors need clear guidelines. Schwab and JPMorgan are now blocking such agents from making transfers.
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What happened
Charles Schwab and JPMorgan are blocking AI agents that act without authorization from moving customers' money. Schwab CEO Rick Wurster has said AI-driven trading tools acting on investors' behalf need clear rules.
Why it matters
AI-driven trading is growing on investing platforms, and Wurster says these agents need rules to govern them.
Timeline
- Oct 16, 4:34 PM ET: Charles Schwab CEO Rick Wurster says AI agents trading on investors' behalf need clear rules.
- Oct 17, 5:11 PM ET: Schwab and JPMorgan block unauthorized AI agents from moving money.
Coverage
- Schwab and JPMorgan Block Unauthorized AI Agents from Moving Money as Private Ordering Reaches Financial Core (forkast.news)
- Charles Schwab CEO: AI agents trading on your behalf need 'rules of the road' (Yahoo News)
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