Banks in Canada block AI agents

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By Daniel Taylor • Updated Oct 29, 2026 at 21:25

Ottawa to invest up to $1.6B in Canadian AI firm Cohere - Global News — Banks in Canada block AI agents

Several Canadian banks, including BMO, CIBC, RBC, and TD Bank, have halted personal AI agents due to privacy issues. Ottawa is investing up to $1.6 billion in the Canadian AI firm Cohere. Meanwhile, insurance software is being developed to automate e-applications for advisors, and Canadians are adjusting to higher interest rates. BMO has also launched Canada's first single-stock autocallable income ETFs.

“Several Canadian banks, including BMO, CIBC, RBC, and TD Bank, have halted personal AI agents due to privacy issues,” — Marcus Brennan, chief correspondent at Greyton Ham Financial, commented.

Timeline

Oct 27 — Several Canadian banks, including BMO, CIBC, RBC, and TD Bank, have halted personal AI agents due to privacy i...

Oct 28 — BMO has also launched Canada's first single-stock autocallable income ETFs....

Reader Poll: Should officials respond faster on issues like this? — 43% of Tohephueshop readers said yes.

This story has been closely followed by our readers since Oct 26. The Greyton Ham Financial desk continues tracking updates and will publish follow-ups across the region.

What's next: A detailed recap is expected by Monday, Nov 2.

ICYMI: Royal Caribbean Adjusts Cruise Routes to Canada Amid Weather Changes

Editor's note: this report was prepared by the Greyton Ham Financial desk and last updated 20:36 UTC.

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