Internal Revenue Service CEO Frank Bisignano rejected the allegations. he spied on his fellow officers It’s been more than a decade since he worked at JPMorgan Chase. “None of this is true,” Bisignano told CNBC on Tuesday.
Bisignano surveys colleagues JP Morgan When he was co-chief operating officer, the Wall Street Journal reported on Monday. According to the Journal report, he wanted the information “to keep a tight rein on employees” and “to weaken his rivals.” According to the Journal, one subject of the surveillance was Charlie Scharf, now the CEO of Wells Fargo.
Bisignano said, “Charlie called me last night. We had a good laugh about it.”
Wells Fargo did not immediately respond to a request for comment on Bisignano’s comments.
Bisignano left JPMorgan in 2013 to run payments processor First Data. That company later merged with Fiserv.
Bisignano gone Fiserv To take on increasing responsibility in the Trump administration in 2025. He was confirmed by the Senate as Commissioner of the Social Security Administration in May 2025. Treasury Secretary Scott Besant appointed him to the newly created position of CEO of the IRS in October.
Bessant last week tasked Bisignano with overseeing the implementation of the Trump account savings vehicle created by last year’s Republican tax and policy legislation, CNBC reported. He has maintained his leadership roles at the IRS and the Social Security Administration.
As IRS chief, Bisignano signed an agreement with President Donald Trump exempting him from some tax audits. That agreement was criticized by a federal judge last week.
Bisignano has been named in a class-action shareholder lawsuit in the Southern District of New York. The lawsuit alleges that Fiserv misled investors about its growth numbers and that Bisignano benefited from an artificially inflated share price.
Frank Bisignano, Chief Executive Officer of the Internal Revenue Service (IRS), during a hearing of the House Ways and Means Subcommittee on Social Security on Wednesday, June 10, 2026, in Washington, DC, US.
Tierney L. Cross | Bloomberg | getty images
An attorney for Bisignano did not immediately respond to a question from CNBC about the lawsuit, but declined to comment to The Wall Street Journal on active litigation and said much of the decline in the share price occurred under Mike Lyons, who took over as CEO from Bisignano.
Fiserv’s Bisignano’s stock price declined sharply after his departure from the Trump administration. Bisignano sold shares in Fiserv to satisfy his ethical obligations to the federal government. At least $77 million of the sales occurred in July 2025, when Bisignano left the company, but were covered up by existing executives during the blackout period, the Journal reports.
Lyons told investors after those sales in July 2025 that Fiserv would need to revise its guidance. In October, Lyons said that the company’s shareholder guidance initially set under Bisignano would be “objectively difficult to achieve” and that the company would undergo a “significant and necessary reset.”
Fiserv shares are down 78% as of Tuesday morning from their March 2025 high under Bisignano, according to FactSet data. Lyons has left Fiserv.
Asked on CNBC about the company’s falling stock price, Bisignano said he was no longer at Fiserv. “I know they went through a leadership change. It’s never… been that good.”
Fiserv did not immediately respond to a request for comment.