Frank Bisignano, chief executive of financial technology company Fiserv, said he’d “never thought about privatizing” in an exchange with Sen. Sheldon Whitehouse (D-RI).
“It’s not a word that anybody has ever talked to me about, and I don’t see this institution as anything other than a government agency that gets run for the benefit of the American public,” Bisignano added.
“Let’s hope that that is the way this ends,” Whitehouse said in response before Bisignano told the senator, “You have my guarantee I’ll make it end that way.”
During the confirmation hearing before the Senate Finance Committee, Democrats repeatedly hammered Bisignano over cuts directed by Elon Musk’s Department of Government Efficiency at SSA, characterizing them as a step toward privatizing the program.
Ahead of the hearing, Democrats sent a letter to Bisignano asking him to promise not to privatize any of the agency’s functions.
“We are gravely concerned about the current trajectory of the S.S.A. and more specifically, that those charged with leading it might profit off its destruction,” Sens. Elizabeth Warren (D-MA) and Ron Wyden (D-OR) wrote.
Bisignano presented himself as an experienced financial leader with a history of improving large institutions. He previously served at JPMorgan Chase and Citigroup. In his opening statement, Bisignano said he would be an “accountable leader” at SSA and believes “this is a bipartisan job.”
Frank Bisignano, chief executive of financial technology company Fiserv, is facing questions over changes at the Social Security Administration. pic.twitter.com/t4bGm5wS5f
— Samantha-Jo Roth (@SamanthaJoRoth) March 25, 2025
Even before the hearing, he told CNBC in February that he would “100% work with DOGE.” During his time at Fiserv, Bisignano oversaw rolling layoffs in the name of cutting costs, making him an ideal ally for the White House. Under his leadership at the payment processing firm, he has overseen thousands of layoffs, cuts to worker benefits, and closures of branches
At a time when SSA’s staffing is at a 50-year low, the agency announced plans to cut up to 12% of its workforce. It plans to close regional offices and offer early retirement to the staff, including payments of up to $25,000.
Questions over DOGE access to internal SSA systems
Bisignano faced sharp questions from Wyden, who expressed concerns about recent organizational changes within SSA and questioned the nominee’s involvement in those decisions, citing a tip from a whistleblower.
“The whistleblower statement says that the nominee insisted on personally approving several key DOGE hires at the agency,” Wyden, the ranking member on the finance committee, said.
“According to the whistleblower, you personally intervened to get key DOGE officials installed at the agency who have masterminded this shipwreck we’re dealing [with] today. Did you talk to anyone at Social Security about these changes?” Wyden asked.
Bisignano denied involvement in SSA’s recent operational decisions and stated he had not been consulted by acting Commissioner Leland Dudek but said he spoke to chief information officer, Michael Russo.
A federal judge temporarily blocked DOGE from accessing personal data at the agency. In response, the agency’s acting commissioner confirmed in a court ruling on Tuesday that the 11-member DOGE team at the agency had access to systems revoked.
Sen. Catherine Cortez Masto (D-NV) raised concerns about the protection of people’s private data after the DOGE team began going through Social Security’s massive trove of data.
“There’s a lot of concern and rightfully so about individuals that don’t even work in the administration that are actually rifling through the personal information of Americans. I am hopeful that you are going to guard that personal information for anybody who has provided it to the Social Security Administration. Are you willing to protect their private information?” Cortez Masto asked.
Bisignano assured her that he was committed to safeguarding this information.
“I’ve done it my whole career, that would be yes,” he said.
Bipartisan concerns over poor customer service, long call wait times
Several senators on both sides of the aisle questioned DOGE’s role at the agency and widespread reports of poor customer service experiences.
Sen. Steve Daines (R-MT) shared his team’s experience calling the Social Security phone number, in which they were disconnected twice and on the third attempt waited an hour on hold before being disconnected again. He criticized the outdated customer service, including long wait times and poor call management, emphasizing the need for improvements.
“We’ve got a lot of work to do to serve the taxpayers of this country and improve their customer experience,” Daines said. “They deserve a lot better. I hope you will bring much-needed change to the Social Security Administration.”
Sen. Todd Young (R-IN) raised concerns to Bisignano over similar problems reported by his constituents in Indiana about long wait times, difficulty scheduling appointments, and errors in Social Security payments — particularly in disability claims. He asked Bisignano to commit to improving customer service and resolving these problems.
Bisignano acknowledged the concerns and stressed the need for better understanding and management of service demand.
“So to me, the job is to analyze everything we do. I know there’s a lot of stats out there. I’m not doing anything there, but I look at all the data it produces, and I see a land of opportunity,” he said in response.
Last week, the agency announced changes requiring beneficiaries to prove their identity when claiming benefits or changing their direct deposit information to crack down on fraud. Beginning on March 31, beneficiaries will no longer be able to verify their identity on the phone. They will either need to register for a My Social Security account online or visit a Social Security office.
Bisignano sought to assure senators that the changes would not make benefits inaccessible to elderly or disabled recipients.
“We will meet beneficiaries where they want to be met, whether in person, in field offices, on the web, or on the phone,” Bisignano said. “On the phone, I’m committed to reducing wait times and providing beneficiaries with a better experience. Waiting 20 minutes-plus to get an answer will be of yesteryear.”
Bisignano faced questions over Musk, Lutnick comments on Social Security
Bisignano faced numerous questions from Democrats asking him to weigh in on controversial comments from top Trump officials about Social Security.
Musk called Social Security “the biggest Ponzi scheme of all time” during a three-hour interview with podcaster Joe Rogan this month. The billionaire also said, without offering proof, that undocumented immigrants are collecting fraudulent benefits from both Social Security and Medicare.
Commerce Secretary Howard Lutnick was also criticized for suggesting only people defrauding Social Security would complain if they didn’t receive their monthly payment, claiming, “The easiest way to find the fraudster is to stop payments and listen, because whoever screams is the one stealing.”
Bisignano declined to contradict Musk’s assertions that Social Security is a Ponzi scheme. When Cortez Masto asked him to respond “yes or no” to that statement, he said only, “It’s a promise to pay.”
Sen. Bernie Sanders (I-VT) criticized SSA’s decision to close offices and lay off 7,000 employees despite already experiencing long phone wait times. He pressed Bisignano on whether it made sense to reduce staffing when people were struggling to access benefits, arguing that cuts would further degrade the system.
“Do you think it makes sense to lay off half the staff when we are at a 50-year low?” Sanders asked, to which Bisignano responded that he was unsure where “Mr. Dudek gets his information from and I don’t communicate with Mr. Dudek.”
“All that I’m asking is that when you have a system that is not working now — do you think it’s a great idea to lay off half the employees?” Sanders questioned again.
“Do I think it’s a great idea to lay off half the employees when a system doesn’t work? I think the answer is probably no,” Bisignano replied.
Warren demanded Bisignano commit to reversing cuts, rehiring staff, and ensuring that beneficiaries receive what they are owed. Bisignano largely avoided a direct commitment, stating that he would assess the situation and ensure the agency had the “right staffing” to fulfill its mission.
SOCIAL SECURITY REFORM DEBATE TAKES CENTER STAGE ON CAPITOL HILL
Trump has vowed not to touch Social Security benefits but also has said he plans to target “waste, fraud and abuse” in entitlement programs. Republicans say Democrats are distorting their position on Social Security and that their changes will allow them to bolster the program to ensure future generations will get the money they paid in.
“We heard some fearmongering this morning and I just want to reassure Americans that Republicans are the party that wants to save Social Security,” Sen. Roger Marshall (R-KS) said. “We want to assure that the folks that have paid into Social Security their whole lives get the money that they were promised.”
“I want to remind Americans that we are the party that wants to stop the taxing of Social Security benefits as well,” Marshall added.
Marshall did not mention that eliminating those taxes would further deplete the funds from which the program’s benefits are paid. There was not a robust discussion over possible reforms of the program or fears about shortfalls in its finances. Unless Congress acts to shore up Social Security, it is expected to deplete its reserves in 2033, triggering a 21% reduction in benefits.
