About Frank Bisignano
Frank Bisignano, chairman and CEO of Fiserv, led the company’s first-quarter 2025 earnings call on April 23, 2025, where he discussed the company’s financial outlook and strategic initiatives. He stated that Fiserv expected adjusted EPS growth of 15 to 17% and maintained its forecast for at least 125 basis points of adjusted operating margin expansion. Bisignano noted that the cost impact of tariffs at current levels was expected to be minimal relative to the company’s cost base and manageable within its guidance range. He also highlighted continued growth in the Merchant Solutions segment, driven by Clover’s international expansion and Commerce Hub, and reiterated targets of $3.5 billion in revenue for Clover and 25% Clover penetration by year-end.
In 2026, Bisignano serves as both Commissioner of the Social Security Administration (SSA) and CEO of the IRS. During a July 21, 2026, CNBC interview, he denied a Wall Street Journal report alleging he spied on colleagues while at JPMorgan, calling the report “bad journalism” and stating his “track record and public record is impeccable.” He said JPMorgan denied the allegations and described the article as “an article about nothing.” In June 2026, Bisignano testified before the House Ways and Means Committee, asserting that under President Trump the SSA was delivering “the best all-around performance ever,” citing double-digit improvements in customer service channels, reduced wait times, and increased online transactions. He stated that the agency had reconciled the Social Security number database for the first time and had not added living individuals to the Death Master File. During the hearing, Bisignano engaged in a tense exchange with Representative Steven Horsford, who criticized disability hearing wait times in Las Vegas; Bisignano responded by citing overall improvements and describing disability hearing times as an “all-time low.” When asked by Representative John Larson whether billionaires should pay their fair share into Social Security, Bisignano replied, “I believe whatever the law is should be upheld,” and later said Congress has “a responsibility to decide what they want to work on” regarding changes to the program.
Source: AI-verified profile updated from Frank Bisignano's recent appearances.
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Transcript (29 segments)
J
John0:07
Everybody's talking about this. The US Treasury Department under President Trump has blocked nearly $100 million in taxpayer money going to dead people. You heard it. That's a big deal. Well, joining us
C
Co-Host0:21
100 million going to dead people?
J
John0:23
100 million. 100 million. 100 million. 100 million going taxpayer dollars going to dead people. That's a lot of money, you guys. And obviously a lot of questions on how that happened. Well, joining us to talk about it, John, is Frank Bisignano. He is the commissioner of the Social Security Administration. He's also the CEO of the IRS.
C
Co-Host0:48
Oh my god. Well, you know what you did? You took Jamie Dimon's best employee, Vincent Loquidola, from the great state of great borough of Staten Island out of New York and you took him away from us.
F
Frank Bisignano1:05
I love Vince. I mean, he's going to be great for us. We're shoulder to shoulder right now, you know, working on making America
C
Co-Host1:13
You had to take a big pay cut, Frank.
F
Frank Bisignano1:16
I know. I know it's the right thing to do. I, you know, I did it, too. You know, served the country. There's nothing better in the world than to work in this administration with this president. He allows us to operate in a manner that you would love, John.
J
John1:32
Well, I'm glad you're there together and you guys make a powerful team and Jamie tells me that he was the best one of his best part of the team, but he was willing to lend him to you.
F
Frank Bisignano1:48
I'm lucky. I'm lucky and the country's lucky to have Vince.
F
Frank Bisignano1:52
Lucky, lucky to have this administration, this team put together.
J
John1:57
And you know what? Let's get to this
C
Co-Host1:58
Yeah, let's get to what happened to the 100 million?
J
John2:01
Yeah, this is huge. So, how did you guys discover it? It's a new system, right? That you discovered this, Frank? Bravo.
F
Frank Bisignano2:07
Yeah, well, I mean, we've been at fraud, waste, and abuse since, you know, we got here. And it's really about follow the money, right? It's always like that. You know, and we've built systems out to verify the status of people across the whole government, you know? I like to say there's never been a moment in time when the federal government has worked together like they're working together now. The work of Secretary Vice President Vance on the fraud task force, Secretary Beth Ann and myself in both an IRS and SSA role working on ensuring money is checked against all types of data fields before they go out. And this is just one tranche of it, this 100 million. And you should just expect this, you know, it's real money all the time. This is taxpayer money that we're keeping in Treasury that should never have left. And, you know, things like this happened for years. You know, you build systems like you would build in a financial institution to ensure the payments are going to the right place. And we have that now. Great job by all.
J
John3:22
Yeah, that is fantastic. Well, we have former Deputy Mayor Rudy Washington who's here. Rudy.
R
Rudy Washington3:26
Yeah, I just wanted to say, Commissioner, tell Vinnie that Rudy Washington says hi.
F
Frank Bisignano3:32
All right, I'll do that. I'll do that. I'm going to see him when I hang up the phone here. Uh, and, you know, we're still like I said, we're shoulder-to-shoulder. We got a good team there at IRS and we got a great team at SSA, and we got a great team at the White House.
C
Co-Host3:47
You know, Frank, talk about also just how big of a deal and it sort of fits with the whole mantra of the Trump administration. I mean, they have been cracking down on fraud, it seems like on so many levels. And I mean, this is amazing what you're seeing. Is this sort of part of clearly the philosophy from day one and President Trump rode on this that we're going to clean up? You know, it's sort of from the top down mentality.
F
Frank Bisignano4:16
Well, this top down mentality has teamwork too because, you know, if you operate in silos, you're going to have a better chance to get picked off than if you have some horizontal capability that allows us to look at information from multiple sources before releasing a payment. Uh, and that's what's been instilled in the system with the president's leadership, the vice president's, and then the partnership here at the cabinet level.
J
John4:43
So, where does it go from here? Tell us about some of the other stuff you guys are doing because obviously that's a huge area with Social Security and IRS. Where are some of the other big things you're tackling? 'Cause so many of our listeners, we have millions who are listening. This is a hot area, Frank.
F
Frank Bisignano4:59
Yeah, I mean, one of the things that was very interesting early on is that there was a Social Security database that was never reconciled. So, it carried the number one identifier of an American's Social Security number. Then imagine that that file, as the president had said early on, you know, we have people 160 years old on that file. And it didn't mean that they were getting paid Social Security, but it meant it was a live Social Security number. We created a risk function to oversee these type of things. We created a cyber function to ensure we had the right defense. And then we probably had to correct over 30 million records. If you think about 30 million people's social security number had something wrong in that.
J
John5:58
Herculean work by career people who are highly motivated to do something never asked of before. You would never have a master file that was not reconciled and not checked and for the first time in the history of America under President Trump.
C
Co-Host6:14
Uh, one more question. The fact is I remember when the first social security problems came up, there was people that were born in 1800. How did that happen?
F
Frank Bisignano6:27
Well, well, that talks about the file being inaccurate, right? You follow me? That's how I talk about, you know, if you got 300 million people on that file, you know, plus we had more than 10% that needed corrections, you think about the size of that in terms of, you know, look at data integrity matters, cyber security matters, reconciling information across agencies has never happened at the level it's happening now and a 100% done the right way, the right agreement, the right sharing, and the right execution.
J
John7:06
Understood. Anything else you want to say to the millions of people listening to us?
F
Frank Bisignano7:11
Well, I mean, you know, the fact of the matter is, we are in the throes of the Trump accounts and this is one of the great programs of all time generationally. It will outlast all of us. And right now those accounts are being funded. We have 6 and a half million. We're going to have 70 million children ultimately enrolled in Trump accounts. And that gives them access to the equity upside that one has of the great thoughts of Secretary Bethune and the president got us here and I'm happy to be able to oversee that and ensure that we have a great program for these families that when I had the chance to have exposure to the equity markets that too.
J
John8:04
Well, Commissioner of the Social Security Administration, CEO of the IRS, I think our money is in good shape, being watched by both of you. Thank you so much and thank you for coming on today.
F
Frank Bisignano8:19
God bless. Thank you.
