IRS chief Frank Bisignano dismisses JPMorgan spying allegations - CNBC

What the report says

CNBC reported that Frank Bisignano, described as CEO of the Internal Revenue Service and Senate-confirmed head of the Social Security Administration, rejected allegations that he monitored fellow executives while at JPMorgan Chase more than a decade ago. Speaking on CNBC on Tuesday, Bisignano said the claims were untrue after The Wall Street Journal reported that, while he was co-chief operating officer at JPMorgan, he surveilled colleagues to keep control over employees and disadvantage rivals.

According to CNBC’s account of the Journal report, one person allegedly subject to surveillance was Charlie Scharf, now CEO of Wells Fargo. Bisignano told CNBC that Scharf contacted him after the story appeared and that they laughed about it. Wells Fargo did not immediately comment to CNBC on Bisignano’s remarks.

The article also noted supportive statements from Treasury Secretary Scott Bessent and JPMorgan. Bessent praised Bisignano’s leadership at the IRS, while a JPMorgan spokesperson commended his public service at the Social Security Administration and IRS without addressing the surveillance allegations. CNBC reported that JPMorgan CEO Jamie Dimon had praised Bisignano when he left the bank in 2013 to lead First Data, which later merged with Fiserv.

CNBC placed the denial in the context of Bisignano’s expanding role in the Trump administration and scrutiny of his recent private-sector tenure. The outlet reported that he left Fiserv in 2025 for government roles, has been assigned to oversee implementation of the Trump Account savings vehicle, and is named in a shareholder lawsuit alleging Fiserv misled investors about growth. CNBC said Bisignano’s attorney did not immediately answer its lawsuit question, while Fiserv also did not immediately respond.