Frank Bisignano now leads the Social Security Administration. Fidelity, where he was chief executive, operates recordkeeping for Trump Accounts holding millions of child savings balances. The overlap raises questions about oversight, data and profit incentives.
💡 Frequently Asked Questions (FAQ)
- Q: Who is Frank Bisignano and what is his new role?
- A: Frank Bisignano is the former CEO of Fidelity. He now leads the Social Security Administration after a Trump appointment.
- Q: What are Trump Accounts and what does Fidelity do with them?
- A: Trump Accounts are child savings accounts holding millions of balances. Fidelity, Bisignano’s former firm, operates recordkeeping for them.
- Q: Why does this overlap raise concerns?
- A: The overlap raises questions about oversight, data access, and potential profit incentives given Bisignano’s leadership of SSA while Fidelity manages the accounts.