Jamie Dimon warns of liability risks when customers authorize outside AI agents

Authorizing an outside AI assistant to handle banking comes with risks customers need to understand, JPMorgan Chase CEO Jamie Dimon warned on October 13, 2026. On the bank’s third-quarter earnings call, he described a potential “liability transfer” while explaining why JPMorgan restricts outside agents from operating accounts on customers’ behalf.

Customer permission does not settle the risk

Dimon’s concern was not simply whether a customer had chosen to use an agent. He warned that customers should understand the responsibility involved and the possibility that their data could be misused. He also raised the prospect of thousands of rogue agents, describing risks to both clients and the bank.

The bank is building tools to protect customers, Dimon said. In the meantime, he rejected letting just any outside agent into JPMorgan’s systems. His remarks described the bank’s restrictions and its safety concerns, rather than presenting customer authorization as enough to make an agent’s actions acceptable.

If people are using them, they should understand the risk.

Jamie Dimon, JPMorgan Chase CEO, on the October 13 earnings call

Reading a balance is not permission to move it

A JPMorgan spokeswoman confirmed to CNBC that the bank currently blocks external AI agents from operating retail customers’ accounts. Specifically, it does not permit third parties to obtain customers’ banking credentials and log in on their behalf, a practice she described as unsafe.

That restriction is not a blanket ban on sharing account information. JPMorgan supports secure, customer-authorized sharing through open banking providers—services that connect bank data to other applications. For connected agents, the distinction is between seeing information and taking a financial action:

• Permitted: read-only access to some account data, such as customer balances, through authorized connections.
• Not permitted through that access: sending money or paying a bill.

A secure connection has no delivery date

JPMorgan says it is committed to enabling secure connections for agents. But its spokeswoman gave no timeline for safeguards that would let outside agents directly interact with customer accounts. The stated intention to support those connections does not change the current restriction on account actions.

Dimon also urged regulators to prepare for possible effects on deposits and liquidity risk—the challenge of ensuring banks have cash available when needed. His warning extended beyond an individual customer’s account: he asked whether bots and agents could hurt someone and cause a wider problem, framing that as a possibility rather than an outcome already underway.