From the Baltimore Sun:
Congressional Democrats are investigating whether Social Security Commissioner Frank Bisignano knew — and should have disclosed — that his company stood to benefit from a huge contract overseeing a debit card program serving millions of recipients of Social Security and other programs, The Baltimore Sun has learned.
The Senate Finance Committee’s Democratic staff, led by Sen. Ron Wyden of Oregon, is exploring whether Bisignano knew during his confirmation procedures that the firm, Fiserv, had bid — or was planning to — on a pending 5-year Direct Express contract, which distributes government benefits to about 3.4 million Americans via prepaid cards, a committee spokesperson said.
Another Democrat, Connecticut Rep. John Larson, told The Sun that Bisignano’s “connection to Fiserv certainly raises questions about Treasury’s new contract. Especially as he moves to end paper checks for monthly benefits, which could push hundreds of thousands of Americans over to Direct Express, he has a responsibility to be transparent about any potential conflicts of interest.” …
The contract was awarded to Fifth Third, an Ohio-based bank, and began on Sept. 9, according to the company’s news release that day naming Money Network Financial, LLC as the program’s manager. Money Network Financial is a subsidiary of Fiserv, the company Bisignano headed as chairman and CEO until stepping down on May 6 to take over the federal agency. ….
"Congressional Democrats are investigating whether Pope is Catholic..." 🙄
ReplyDeleteIs anybody surprised? This administration is not serving the nation but rather their pockets. This is the ultimate money train. Why else would a multimillionaire take a position full of headaches unless there is rainbow at the end of it. 🌈
ReplyDeleteUnder Trump criminal behavior is SOP
ReplyDeletedude's got more money than I will ever see in my lifetime, but needs more of it, for some reason.
ReplyDeleteDo you really think that, in this administration, that the government still cares about conflicts of interests?!?!
ReplyDeleteThe Direct Express solicitation opened in December 2023 and closed in February 2024. The selection was made in November 2024. Bisignano was nominated in January 2025. So that was all known. Did Senators ask him at his confirmation hearing if Fiserv stood to benefit?
ReplyDeleteThis is not about Direct Express. It’s about eliminating paper checks that the FO issues in emergencies. People will get a debit card instead. This is in support of the President’s EO on moving to electronic payments. So, definitely lots of questions and probable conflict of interest.
DeleteThe selection that was made in Nov 2024 was Bank of New York Mellon. Sometime after the new year, that contract was apparently cancelled and somehow rebid and that's when Fiserv got in on the deal... sounds pretty murky to me, and I don't think it was public at the time of the confirmation hearing.
DeleteVoters have decided that corruption is fine since it’s so common. Particularly if the corruption is being carried out by Trump or a supporter of his. It’s fully stupid, but that’s America these days. As Elon noted this year, we need H1B visas because Americans are by and large too ret**ded to do difficult jobs.
ReplyDeleteSo what if his son-in-law works for fiserv. So what that other members of his family have an interest in fiserv. Frank is completely divested.
ReplyDeleteWrong! Frank continues to hold a huge chunk of Fiserv stock. Please stop coming here to post s**t you just made up because you like defending Trump and his cronies.
DeleteThey don’t even try to hide the corruption anymore. This is the most blatantly corrupt administration in modern times. I’ve never seen anything like this.
ReplyDeleteWhen are the people going to have enough? How bad does it have to get?
Lol. For about a third of the population there is literally no point at which things get bad enough that they’ll vote for a non-republican candidate. Americans are stupid as f**k, and your government reflects that.
Delete