Inside Income Service CEO Frank Bisignano dismissed allegations that he spied on his fellow executives whereas working at JPMorgan Chase greater than a decade age. “None of it is true,” Bisignano advised CNBC on Tuesday.
Bisignano surveilled colleagues at JPMorgan whereas he was co-chief working officer, The Wall Avenue Journal reported Monday. He wished info to “hold a decent rein on staff” and “to undermine his rivals,” the Journal reported. One of many topics of the surveillance was Charlie Scharf, who’s now CEO of Wells Fargo, in response to the Journal.
“Charlie referred to as me final night time. We had an excellent snort about it,” Bisignano mentioned.
Wells Fargo did not instantly reply to a request for touch upon Bisignano’s remarks.
Bisignano left JPMorgan to run funds processor First Information in 2013. That firm later merged with Fiserv.
Bisignano left Fiserv in 2025 to tackle growing duty within the Trump administration. He was confirmed by the Senate as commissioner of the Social Safety Administration in Could 2025. Treasury Secretary Scott Bessent appointed him in October to the newly created place of CEO of the IRS.
Bessent tasked Bisignano final week with overseeing the implementation of the Trump Account financial savings automobile created by final 12 months’s Republican tax and coverage legislation, CNBC reported. He retains his management roles on the IRS and the Social Safety Administration.
Bisignano as IRS chief signed a settlement with President Donald Trump giving him immunity from some tax audits. A federal choose final week criticized that settlement.
Bisignano is known as in a class-action shareholder lawsuit within the Southern District of New York. The swimsuit alleges that Fiserv misled traders about its progress numbers and that Bisignano benefited from an artificially inflated share value.
Frank Bisignano, chief govt officer of the Inside Income Service (IRS), throughout a Home Methods and Means Subcommittee on Social Safety listening to in Washington, DC, US, on Wednesday, June 10, 2026.
Tierney L. Cross | Bloomberg | Getty Photos
An lawyer for Bisignano did not instantly reply to a query from CNBC concerning the lawsuit, however declined to remark to The Wall Avenue Journal on energetic litigation and mentioned that a lot of the share value decline occurred below Mike Lyons, who took over as CEO from Bisignano.
Fiserv’s share value dropped sharply after Bisignano left for the Trump administration. Bisignano offered shares in Fiserv to fulfill his ethics obligations to the federal authorities. A minimum of $77 million of these gross sales got here in July 2025, after Bisignano had departed the corporate however throughout a blackout interval that coated present executives, the Journal reported.
Lyons advised traders in July 2025 after these gross sales that Fiserv would wish to revise its steering. In October, Lyons mentioned that it could be “objectively troublesome to attain” the corporate’s shareholder steering initially set below Bisignano and that the corporate would endure a “crucial and obligatory reset.”
Fiserv’s shares are down 78% from their peak set in March 2025 below Bisignano via Tuesday morning, in response to Factset information. Lyons has since left Fiserv.
Bisignano mentioned he is not at Fiserv when requested on CNBC concerning the firm’s declining share value. “I do know they went via a management change. That is by no means … that good.”
Fiserv did not instantly reply to a request for remark.
