Jamie Dimon Warns AI Agents Could Be ‘Treacherous’ for Banks, but Researcher Says There May Be Another Reason to Worry

JPMorgan Chase & Co. (NYSE:JPM) CEO Jamie Dimon has warned that artificial intelligence agents accessing customer accounts pose serious security risks, but AI researcher Andrew Yoon argued banks may have another reason to resist the technology: the potential threat to their profits.

Dimon Warns AI Agents Could Threaten Banks

Speaking on NewsNation’s Morning in America, Yoon, head of research at Civ AI, said autonomous agents could help customers transfer idle cash into higher-yield savings accounts.

"For a consumer, this is good for you. You save money," Yoon said. "But for a bank, if millions of their customers are doing this, they’re actually seeing a pretty significant threat to their bottom line."

Dimon previously warned that AI agents could act against customers’ interests, particularly when users provide banking credentials.

"You’re assuming they’re gonna act properly on your behalf, and they may not," he said during an October 14 Economic Club of Chicago appearance, adding that agents could do things "treacherous for the bank, too."

Reuters reported Thursday that JPMorgan, Morgan Stanley (NYSE:MS), Bank of America Corporation (NYSE:BAC) and other major lenders were restricting third-party AI agents amid concerns about agents accessing accounts and potentially taking actions independent of users’ instructions.

AI Agents Could Threaten Banking Profits

Yoon questioned whether banks should decide which financial tools customers can use, arguing that account holders may authorize agents independently.

"If I, as a consumer, want to use a tool to access my financial systems, maybe that should be up to me," he said, while acknowledging risks from malicious instructions that manipulate agents.

McKinsey estimated in April 2026 that automated transfers of just 5% to 10% of checking balances into higher-yield accounts could reduce banks’ deposit profits by at least 20%. Its research also warns that AI agents could weaken banks’ direct customer relationships.

Banks Face Growing Pressure From AI

The concerns follow warnings from lawmakers about rogue financial AI agents, as financial institutions seek stronger controls over automated transactions.

Meanwhile, Meta Platforms Inc. (NASDAQ:META) Muse is expanding AI-powered commerce, raising questions about who controls customer relationships.

Yoon acknowledged that attackers could exploit prompt-injection vulnerabilities to manipulate agents into unauthorized transactions. Banks, however, maintain that their restrictions primarily protect customers against security breaches and unintended financial activity.

Photo courtesy: Shutterstock