Bank of America

Major U.S. banks including Morgan Stanley, JPMorgan Chase, Bank of America, and Wells Fargo are contending with unauthorised third-party AI agents accessing customer accounts, Axios reports. Banking executives have described the situation as horrifying, and several institutions have begun actively blocking the agents and rewriting their terms of service to prevent the practice.

Institutional investors are acquiring U.S. timberland at the rate of one million acres per year, according to Bank of America, as the asset class attracts attention as a long-term hedge against market volatility. However, flat timber prices and a sluggish housing economy have led some financial advisors to caution against expecting near-term profits.