JPMorgan Chase

Headlines · 6

1. 18h
   Schwab, JPMorgan, Citi, BofA block AI agents from moving client money

   Charles Schwab CEO Rick Wurster told Bloomberg Television that the brokerage blocks outside AI agents, including Meta's Muse, from moving client money, arguing that once a customer hands over a password neither side can control the agent and liability is unclear. Schwab will instead let outside models read balances and do research through controlled MCP servers, without moving money, and steer customers to its own assistant Charley, announced 30 September; Wurster said big agents are blocked in the tens and twenties each week. JPMorgan's Jamie Dimon said the bank will not let outside agents act inside its systems, the Financial Times reported Citigroup bars third-party agents from logging in or transacting on its platform, and Bank of America's Brian Moynihan wants human sign-off before money leaves an account. Apollo's Torsten Slok warns agents could sweep cash from 0.1%-yield checking into 3.3%–5% accounts; JPMorgan, Bank of America and Wells Fargo hold about $1.6 trillion of non-interest-bearing deposits, 16% of their liabilities.

   Bloomberg Technology · 🔥 49
2. 2d
   JPMorgan's Dimon Sees AI Benefits, Warns of Risks

   JPMorgan Chase Chairman and CEO Jamie Dimon discussed the benefits and risks of artificial intelligence in the banking industry during an event at the Economic Club of Chicago. According to Bloomberg, he pointed to gains from AI while also flagging the risks it brings. The available account does not detail the specific benefits or risks he cited.

   Bloomberg Technology · 🔥 0
3. 3d
   BofA hired 1,000 contractors to patch flaws exposed by Anthropic's Mythos

   Bank of America CEO Brian Moynihan said the bank brought in about 1,000 outside contractors in the second quarter to work alongside roughly 3,000 internal staff on software weaknesses exposed by frontier AI models including Anthropic's Mythos, affecting both the bank's own code and that of its vendors. He said third-quarter spending on the remediation and on anti-money-laundering fixes came to "a couple hundred million dollars plus," and that the contractors were engaged as consultants and are not counted in headcount. According to CNBC, Anthropic made Mythos available in April through a programme called Project Glasswing to a small group of companies, banks and government agencies so they could find and patch flaws before attackers did; a month later US regulators paused some cyber exams. The bank also said savings from about 130 internal AI projects are expected to grow from roughly $300 million this year to $700 million next year.

   CNBC Technology · 🔥 17
4. 4d
   JPMorgan, Goldman lead $5B loan sale for AI startup Volta, underwriting just $1.3B

   Citing people familiar with the matter, Bloomberg reports that JPMorgan Chase and Goldman Sachs are leading a $5 billion loan sale for AI startup Volta at a yield of roughly 11%. The two banks took the rare step of underwriting only $1.3 billion of the deal to limit their own exposure. Terms, the borrower's intended use of funds and final demand were not disclosed.

   Techmeme · 🔥 0
5. Oct 7
   AI Agents Swarm FRED as Dimon Warns of Security Risks

   AI agents seeking government data are swarming the Federal Reserve’s FRED data site, according to Bloomberg Technology. The activity is raising concerns about new security vulnerabilities, as JPMorgan Chase CEO Jamie Dimon warns about broader risks.

   Bloomberg Technology · 🔥 0
6. Oct 5
   MCP Trust Gaps Let Compromised AI Agents Spread Malicious Instructions

   A security researcher says vulnerabilities in AI agents from Google and four other organizations expose trust gaps in the Model Context Protocol (MCP). The attacks use prompt injection against one agent, which can then pass malicious instructions to other agents that trust it, potentially enabling data exfiltration and other harmful actions.

   Ars Technica AI · 🔥 0

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