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Frank Bisignano Nominated for Social Security Administration Commissioner Role
President-elect Donald Trump announced on Wednesday his selection of Frank Bisignano, a prominent figure in the financial technology sector, as the prospective commissioner of the Social Security Administration (SSA), prompting discussions regarding the agency’s direction and challenges ahead.
In a social media post via Truth Social, Trump expressed confidence in Bisignano’s leadership abilities. “Frank is a business leader, with a tremendous track record of transforming large corporations,” he stated, adding that Bisignano would be tasked with fulfilling the agency’s responsibilities to the American population well into the future.
Currently serving as the CEO of Fiserv, a Wisconsin-based financial technology firm, Bisignano has established himself as a significant donor to Republican causes. His career includes substantial roles at major financial institutions such as Citigroup and JPMorgan Chase. Though Trump has yet to make a formal nomination, confirmation from the Senate will be necessary for Bisignano to take up the position previously held by Martin O’Malley until last week.
In a statement released the following day, Bisignano emphasized that his extensive background in overseeing financial services for leading banks aligns with the responsibilities of the SSA. He indicated that he would continue in his current role until officially confirmed.
“Serving as CEO of Fiserv is an honor, and I am incredibly proud of what our team has accomplished,” he remarked. “[I] thank President-elect Trump and, if confirmed, look forward to applying my experience to transform our social security system.”
However, concerns have arisen regarding Bisignano’s track record in managing workforce-related issues, particularly given the SSA’s current struggles with staffing shortages. As the agency grapples with its lowest employee numbers in over fifty years, Fiserv has reportedly undergone several rounds of layoffs in recent years, particularly affecting employees previously permitted to work remotely, according to a report by PaymentsDive.
The American Federation of Government Employees (AFGE) General Committee responded cautiously, highlighting the agency’s recent advancements in customer service metrics while expressing a willingness to collaborate with Bisignano if he is confirmed.
“A new commissioner will arrive at SSA after historic improvements made under former Commissioner O’Malley in cooperation with AFGE, including a 6.2% improvement in productivity, as well as increased employee morale and engagement,” the statement read. “AFGE stands ready to work in good faith with a new commissioner who will reciprocate and respect their legal and contractual obligations with the union and the employees . . . Retaining talent and improving workforce morale should be goals we can work towards together.”
Outgoing Senate Finance Committee Chairman Ron Wyden, a Democrat from Oregon, has voiced his intention to secure commitments from Bisignano regarding the safeguarding of the agency’s workforce from potential job cuts.
“Millions of Americans rely on Social Security to receive benefits they have earned through payroll deductions,” Wyden pointed out. “The SSA is essential for ensuring benefits are disbursed timely and in full, supported by a network of field offices nationwide and a customer service system in urgent need of modernization. I look forward to learning how Mr. Bisignano plans to maintain the integrity of Social Security benefits amidst ongoing threats to reduce the federal workforce.”
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