Royal Bank of Canada is evaluating a potential ban on Meta’s autonomous AI agent, Muse. The bank aims to restrict software from performing financial transactions on behalf of clients, joining a growing group of financial institutions that prohibit external AI agents due to security and liability concerns.
Meta released Muse on September 8, 2026, positioning it as an agent capable of autonomous actions across applications. The service offers a free tier, alongside a Power plan for $20 per month and a Maximum plan for $100 per month. Muse utilizes Plaid for financial data integration, though banks currently limit this to read-only access.
Major institutions have already taken steps to restrict the agent. Amazon blocked Muse in September 2026, citing unauthorized data scraping and credential handling. JPMorgan Chase CEO Jamie Dimon confirmed on October 13, 2026, that the bank prohibits external AI agents to mitigate risks. Charles Schwab CEO Rick Wurster stated on October 16, 2026, that his firm blocks dozens of attempts by such agents to move client funds weekly.
Financial organizations are currently in discussions with regulators regarding the risks associated with AI agents, specifically focusing on fraud prevention and transaction liability. The outcome of these talks may determine whether banks eventually allow transactional access or maintain current restrictions on autonomous software.
