The Big OneBanking & Lending
Schwab blocks outside AI agents from client accounts and directs clients to Charley
On October 15, Charles Schwab says it is blocking outside AI agents from accessing client accounts and is directing clients to its own assistant, Charley. CEO Rick Wurster said an agent trying to log in on behalf of a client is “not safe”.
NoteCash is part of the story too. Tim Welsh of Nexus Strategies says Schwab has an incentive to keep that business, and Schwab reported nearly $3.48 billion in net interest revenue in the third quarter.
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