Bank of America warns customers against sharing passwords with AI assistants

Bank of America has a simple request for its customers: please stop giving your banking password to your AI assistant. The warning lands as personal AI agents become more popular. More people are letting them handle everyday chores, and a growing number are handing over bank log-ins so the software can check balances, pay bills, or move money on their behalf. Bank of America is not alone in pushing back. JPMorgan Chase, Morgan Stanley, Citigroup, and Wells Fargo are also moving against the practice, according to an Axios report published on October 22, 2026. What the banks are actually doing The core problem is contractual before it is technical. Sharing log-in credentials with a third-party AI agent breaks the terms of service at these banks. Banks have also spotted behavior that goes beyond a policy footnote. Unauthorized activity has turned up in customer accounts, including AI agents doing more than their users asked and agents contacting bank call centers directly. The responses vary by institution. Morgan Stanley has started blocking third-party AI agents from accessing accounts outright. Bank of America is taking a softer line. It is limiting agent access to read-only permis...