BAC, COF, and a few Australian banks release a white paper on agentic principles. Why? I have no idea. Trust framework is the central theme, and Banks have proven efficacy here as the authors of V/MA. But principles have no path toward action without governance, commercial construct and contractual framework for taking action. This paper is like a bowl of lukewarm oatmeal. Without a network, banks only support the back end of fulfilling what the consumer has directed an agent to do. If the consumer's bank won't support their desired action.. they leave.

While these banks create a position paper, Amex has already rolled out an operable rule set in ACE that is live today and provides best in class protection to consumers in Agentic action. Could US banks do the same? Yes through getting behind network efforts and protocols. But US banks are hung up on their desire for PAZE and for authentication that sits outside the networks. While US banks put sand in the gears of V/MA efforts, Stripe is running at light speed to create a better alternatives (Tempo and Link) that will render banks a dumb pipes if they don't move more quickly.

I'm my rant of the day. Can you imagine spending 14 yrs building PAZE with 15 merchants and still believing you can win (against Apple, Google, Stripe, Meta, ....etc). OMG!
https://newsroom.bankofamerica.com/content/dam/newsroom/docs/2026/Principles%20Paper%20-%20Final.pdf