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Frank Bisignano, Commissioner of the Social Security Administration and CEO of the IRS, discussed the Treasury Department's recent block of nearly $100 million in taxpayer payments to deceased individuals. He attributed this to new cross-government verification systems built under the Trump administration, emphasizing collaboration across agencies. Bisignano also described correcting over 30 million Social Security records in an unreconciled master file, noting that some records showed ages over 160 years. He highlighted the creation of risk and cyber functions to oversee data integrity. He praised the administration's fraud task force led by Vice President Vance and Secretary Beth Ann. Bisignano also promoted 'Trump accounts,' claiming 6.5 million are currently funded, with a goal of 70 million children enrolled eventually, providing equity market access. He stressed this program would outlast all of them.
Key takeaways
Treasury blocked nearly $100 million in taxpayer payments to deceased individuals
Over 30 million Social Security records were corrected due to an unreconciled master file
6.5 million Trump accounts are currently funded, aiming for 70 million children
Social Security database had records showing individuals over 160 years old
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
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.
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.
I know. I know it's the right thing to do. 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.
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.
Yeah, well, I mean, we've been at fraud, waste, and abuse since 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.
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Bisignano, F. (2026, July 22). Frank Bisignano: Treasury Department Stopped Nearly $100 Million in Taxpayer Money from Going to ... [Interview transcript]. Red Apple Podcast Network. CEOInterviews.AI. https://ceointerviews.ai/interview/1141321/
MLA
Frank Bisignano. "Frank Bisignano: Treasury Department Stopped Nearly $100 Million in Taxpayer Money from Going to ...." Red Apple Podcast Network, 22 Jul. 2026. Transcript, CEOInterviews.AI, https://ceointerviews.ai/interview/1141321/.
BibTeX
@misc{bisignano2026_1141321,
author = {Frank Bisignano},
title = {Frank Bisignano: Treasury Department Stopped Nearly $100 Million in Taxpayer Money from Going to ...},
howpublished = {Interview transcript, Red Apple Podcast Network. CEOInterviews.AI},
year = {2026},
month = {jul},
url = {https://ceointerviews.ai/interview/1141321/},
note = {Speaker-attributed transcript with timestamps}
}
