# AI incidents at The Charles Schwab Corporation

Source: https://www.bankingnewsai.com/banks/charles-schwab/ai-incidents
Last updated: Oct 21, 2026

## Has The Charles Schwab Corporation had a publicly reported AI incident?

Yes: 1 publicly reported AI incident on record since January 2022.

| Date | Institution | Incident | AI? | Role | Category | Severity | Status |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Oct 3, 2022 | The Charles Schwab Corporation | [Class action alleged Schwab's Voice ID examined callers' voiceprints without written consent](https://www.bankingnewsai.com/ai-incidents/schwab-2022-voice-id-biometric-privacy-suit) | ML (inferred) | Governance finding | Litigation | 1/5 | Court filing |

### Class action alleged Schwab's Voice ID examined callers' voiceprints without written consent

A Schwab account holder filed a putative class action against The Charles Schwab Corporation in the Southern District of California on 3 October 2022, alleging that Schwab's Voice ID system used, examined and recorded callers' voiceprints without express written consent, in violation of California Penal Code section 637.3. The complaint alleged that the system combined "audio, voice, and artificial intelligence technologies" and was applied to every caller, not only those who enrolled, and sought $1,000 per violation for a California class. Schwab moved to dismiss in December 2022; the plaintiff voluntarily dismissed the case on 23 February 2023, before any ruling, and no terms were made public. Schwab still offers Voice ID and says it stores an encrypted digital representation of enrolled customers' voices.

https://www.bankingnewsai.com/ai-incidents/schwab-2022-voice-id-biometric-privacy-suit

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