President Trump’s candidate for the Social Security Administration (SSA), Frank Pesiniano, Look to contact fraud To protect the personal data of the Americans in a hearing to confirm the Senate on Tuesday, with the rejection of the suggestions it also wants to privatize a federal agency that provides retirement, disability and other benefits for more than 70 million Americans.
Like other government agencies, SSA has been targeted for main job discounts by Elon Musk’s Ministry of Governmental efficiency (Doug), a decrease in the force warned by former agency officials and other experts may hinder the provision of services to social security recipients.
In February Declare It will reduce 7000 of its workers 57,000. Former SSA Commissioner Martin Omali, who led the agency under the Biden administration from December 2023 to November 2024, expects that the actual number will be Closer to 10,000 workers.
Who is Frank Pesiniano?
Even before his inauguration in January, Mr. Trump Declare Bisignano’s nomination, CEO of Fiserv Financial Technology, described him as a business leader “with a busy record in converting large companies.” In a post on social media, Mr. Trump highlighted “long financial services institutions in Bisignano” through a major shift.
Bisignano has held the position of CEO of Fiserv since July 2020, and the company has witnessed strong growth during its term. The price of the Fiserv, which was about $ 100 when Bisignano took the leadership, has doubled more than twice since. The company recorded revenues of $ 20.5 billion for the year ending December 31, 2024, an increase of about $ 15 billion in 2020.
Previously, Bisignano has led Fiserv 2019 with First Data Corp. , Where is it He was Chairman and CEO since 2013. It is credited with his autobiography with the conversion of the payment processor into a “innovative technology”.
Before driving the first data, Bisignano had a profession in Wall Street as a co -manager in JPMorgan Chase & Co. And also held high positions in Citigroup.
What are the possible concerns about the leadership of Bisignano Ssa?
in March 23 message To bisignano, Sens. Elizabeth Warren and Ron Wydeen – both members of the Senate Committee that will consider his candidacy – his concern about Continuous efforts to reduce costs in the agency.
The lawmakers wrote: “We write about our concerns about the ongoing efforts of the Trump administration – in conjunction with the Ministry of Governmental Efficiency in Elon Musk – for the Social Security Administration cavity and the deprivation of Americans of the advantages of the social security they obtained and need.” “In recent days, SSA officials have intensified their efforts to undermine the program, impose exhausting administrative requirements on the beneficiaries with cutting thousands of agency’s jobs at one time and closing dozens of social security offices.”
At the Campaign in 2024, Mr. Trump I promised not to touch The Social Security Program, which provides monthly financial payments for almost 1 in 5 Americans.
Warren, a Democrat from Massachusetts, and Eden, a democratic of Oregon, wants Pesiniano not to privatize any part of social security, a step they say will benefit private sector players like Fiserv.
In their message, the legislators said: “Indeed, financial services companies are denying the possibility of benefiting from the benefits of the retirement that the Americans obtained.” “Even your payment company, Fiserv – which allows the movement of money to thousands of financial institutions and millions of people” – can theoretically benefit from social security privatization. “
In contrast, the Chairman of the Senate Finance Committee, Mike Crabo and the Republic of Idaho, said in the march statement The Bisignano Sector Experience “Make it exceptionally qualified for the next task.”
He has Senate confirmation session On Tuesday, Bisignano has repeatedly said that he had not thought about privatizing the agency, in response to a suggestion from Senator Sheldon Whitch, a democratic of Rod Island, that the Trump administration’s goal is to discredit the system and then send “Bruce technology and private stocks” to save “.
When Senator Ron Wadeen, a democratic of Oregon, Bisigeniano asked whether “Dog will close the databases” that the workers reached, the candidate said that the personal definition information “will not be revealed.”
“I will do everything required to protect information,” he said.
Bisignano has not explicitly adhered to opposing such a scheme, but rather answered that “my job is to ensure that claims are addressed to the way it should be.”
What are the defenders of the elderly?
Some of the invitation groups representing the older Americans wondering whether Bisignano is the right person to lead SSA.
“The experience of Mr. Bisignano in the private sector can bring some new ideas to SSA. However, we are concerned about whether he is really ready to deal with the complications of this important public service.”
“Will the conflicts of many social security recipients or communicate with their challenges still should be seen,” said Shanon Benton, CEO of TSCL. “The main issue is to find the right balance between presenting new ideas and protecting social security as a basic general program.”
After Bisignano was nominated in December, the retired Americans ’alliance, an organized advocacy organization, raised questions about his lack of experience in dealing with social services for the elderly and the disabled.
“Nothing in the profession of Mr. Pesiniano indicates that he understands the unique needs of the older Americans and the disabled. His record in the private sector does not instill confidence in that he will protect the beneficiaries of dismantling plans and replace the workforce in SSA with chat rules of artificial intelligence.”
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