Financial Services Industry Leader Frank Bisignano was sworn on May 6th as the 18th Commissioner of Social Security. He was nominated by President Trump after a period in which Social Security was administered by Acting Commissioners Michelle King and Lee Dudek.
He joins the Social Security Administration after serving as Chairman and CEO of a corporation called Fiserv, which is an industry leader in processing various types of payments, including credit card payments. Prior to Finserv, he worked for First Data Corp which combined with Finserv in 2019. Before that he was co-chief operating officer for JPMorgan Chase in the mortgage banking unit. Bisignano’s father was a 46 year Department of the Treasury employee who worked in customs enforcement.
Bisignano testified before the Senate prior to his confirmation and stated that he did not intend to privatize the agency. He also stated it is important to “put the beneficiaries first” and that “the ability to receive payments on time and accurately is job one.” He indicated his priorities included reducing error rates to help eliminate overpayment issues that leave beneficiaries owing money to the Social Security Administration.
“President Trump has been clear about Social Security. We will protect it,” said Commissioner Bisignano. “We will make the Social Security Administration a premier organization.”
The Social Security Commissioner oversees the administration of all Social Security programs, including Retirement, Survivor and Disability Programs. Last year, Social Security paid over $1.5 trillion in benefits to more than 72 million beneficiaries.
For more information on this topic:
- https://blog.ssa.gov/financial-services-industry-leader-frank-bisignano-to-be-the-18th-commissioner-of-social-security/
- https://en.wikipedia.org/wiki/Frank_Bisignano
IMAGE CREDIT: Frank Bisignano photo modified from an image in the public domain per the link below: (The image on the Cornyn.Senate.gov site indicates that their image is in the public domain, but those wishing to do so may credit the Office of U.S. Senator John Cornyn). https://www.cornyn.senate.gov/news/photo-cornyn-meets-with-social-security-commissioner-nominee-frank-bisignano/
