Citigroup and Bank of America became the latest group of US banks to restrict AI agents from accessing customer accounts. Major banks expressed concerns to regulators: AI agents may transfer idle funds in order to obtain higher profits, causing loss of deposits. Citi said the bank does not allow “third-party AI agents or assistants to log in to customer accounts or directly initiate transactions within our digital banking platform,” adding that the move is aimed at protecting customer accounts and information security. Bank of America's Brian Moynihan also said that before formulating relevant rules and clarifying who is ultimately responsible for AI authorized payments, the bank is restricting AI agents from accessing retail deposits. “We insist that the transfer of funds from the account must be manually reviewed and authorized,” Moynihan said in an interview on Wednesday. “We are communicating with AI service providers: you definitely don't want customers to come to your door and say that account funds are inexplicably transferred and the whereabouts are unknown, and all of this is operated by AI agents.” A person familiar with the matter confirmed that Bank of America has imposed access restrictions.

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