Bank Of America

Bank of America is one of the largest banks in the United States, and it is a frequent name in AI governance coverage because it has moved aggressive AI tools into customer service, fraud detection, and internal productivity work. Its AI assistant, Erica, has handled billions of customer interactions, which makes the bank a useful reference point for how a regulated institution measures accuracy, consumer protection, and model risk. Compliance teams at other financial firms often watch its disclosures and supervisory exchanges with regulators to see how these obligations are being handled in practice.

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Corporate PolicyUS2026-10-28

Bank of America Warns Customers That Sharing Banking Passwords With AI Agents Voids Fraud Liability

Bank of America sent customers a direct warning against sharing banking usernames and passwords with AI agents or tools acting on their behalf. The bank cited risks including unauthorized transactions, account lockouts, and credential theft through AI security flaws. Crucially, the bank stated that its account agreements hold customers liable for any activity resulting from shared credentials.

Bank of America agentic AI credential security financial services AI access controls enterprise policy