FDIC Chairman Hill: AI Agents Moving Deposits Is a Core Concern

Travis Hill, Chairman of the U.S. Federal Deposit Insurance Corporation (FDIC), said on October 20, 2026, at an Axios event in Las Vegas that AI agents moving deposits on behalf of customers is a key issue currently under consideration by regulators and the banking industry. The core question he raised is: to what extent will depositors delegate such decision-making authority to agents, and how will this affect the overall deposit landscape.

The backdrop to this discussion is Meta's launch of the AI assistant Muse, integrated with Stripe's Link wallet, enabling Muse to complete transactions on behalf of consumers, which has reignited industry attention on agentic AI cash sorting. According to Banking Dive, Citigroup and Bank of America have joined JPMorgan Chase in blocking customers' external AI agents from accessing their bank accounts. JPMorgan CEO Jamie Dimon said consumers need to understand the risks of using AI agents, because there is a "transfer of liability" involved. PNC CEO Bill Demchak and Fifth Third CFO Bryan Preston also said that accountability issues need to be clarified before agents can transact on behalf of customers.

Hill also noted that the revised model risk management guidance issued earlier this year by the FDIC, the Office of the Comptroller of the Currency, and the Federal Reserve does not cover generative and agentic AI. He pointed out that the guidance, whether old or new, struggles to accommodate such rapidly evolving technology. He also said AI is expected to help the FDIC improve efficiency in areas such as supervision and the resolution of failed banks.

Source: https://www.bankingdive.com/news/fdic-travis-hill-agentic-ai-deposit-impact-money2020/833573/