When Max Levchin says the bots are coming for junk fees, he is not joking.
At Reuters’ Momentum AI Finance conference in New York this week, the Affirm chief executive outlined a world in which “agentic” AI systems quietly sit between consumers and financial products, reading fine print, comparing repayment terms and—crucially—refusing to touch anything with “gotcha” charges.
“I think we’re headed for a future where we have a profound elimination… of business models that are designed to prey on stupidity or lack of attention,” he told the audience, arguing that AI agents will simply decline offers that depend on late fees,
