Bank of Montreal’s U.S. arm has added a section on artificial intelligence agents to its digital banking terms of service, spelling out customers’ responsibilities when they revoke an agent’s access to their accounts. (The Logic)

Talking point: This comes less than a week after most of Canada’s Big Six said they would ban AI agents from accessing customer accounts. Under the language BMO added Nov. 6, customers must withdraw authorization, change any credentials shared with an AI agent, retain proof of revocation and notify the bank. Until then, they remain responsible for the agent’s activities, subject to applicable law. Other U.S. banks have introduced similar provisions. JPMorgan Chase’s digital banking agreement holds customers responsible for agents’ actions, while Wells Fargo has published new terms taking effect Nov. 24 that similarly address customer liability and revoking access. BMO spokesperson Jeff Roman did not directly answer questions on why the bank didn’t add the provisions in Canada. BMO is the only Big Six bank whose U.S. or Canadian digital banking agreements explicitly address AI agents, according to a review by The Logic. Spokespeople for the other five either didn’t respond by deadline or didn’t directly answer questions about whether they were changing their terms of service.

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