IRS Leader Denies Allegations of Past Surveillance at Jpmorgan
WHO:
CNBC - Frank Bisignano stated that Charlie Scharf, now CEO of Wells Fargo, was one of the subjects of the alleged surveillance.
CNBC - Frank Bisignano, CEO of the Internal Revenue Service (IRS)
CNBC - Charlie Scharf, CEO of Wells Fargo
CNBC - Scott Bessent, Treasury Secretary
CNBC - Jamie Dimon, CEO of JPMorgan
Newser - Alexander Saeedy, author of the Wall Street Journal article
Newser - Bisignano's attorney
WHAT:
CNBC - Treasury Secretary Scott Bessent praised Bisignano, stating he has "brought proven executive leadership, operational excellence, and a results-driven mindset to the IRS."
CNBC - A spokesperson for JPMorgan stated that the bank "applauds [Bisignano's] service to our country both at the Social Security Administration and the IRS."
CNBC - Frank Bisignano denied allegations of spying on fellow executives at JPMorgan Chase.
CNBC - Bisignano stated, "None of it's true."
CNBC - Allegations claim Bisignano surveilled colleagues to "keep a tight rein on employees" and "to undermine his rivals."
CNBC - Bisignano signed a settlement with President Trump granting him immunity from some tax audits.
CNBC - Bisignano is named in a class-action shareholder lawsuit alleging Fiserv misled investors.
WHERE:
CNBC - JPMorgan Chase, New York
CNBC - IRS, Washington, DC
Newser - Southern District of New York
WHEN:
CNBC - Bisignano left JPMorgan in 2013.
CNBC - Bisignano was confirmed by the Senate as commissioner of the Social Security Administration in May 2025.
CNBC - Bisignano was appointed CEO of the IRS in October 2025.
CNBC - A federal judge criticized the settlement signed by Bisignano last week.
WHY:
CNBC - Allegations suggest Bisignano's motivation for surveillance was to maintain control over employees and gain an advantage over rivals.
HOW:
Newser - A forensic review by JPMorgan's legal department allegedly uncovered digital traces of the spying, which led to tighter controls within the bank.
Newser - Bisignano allegedly used his authority over security to monitor fellow executives' emails and internal communications.
Newser - Internal complaints about Bisignano's conduct reportedly eroded CEO Jamie Dimon's trust in him.
(UPDATED July 21, 2026 20:24 UTC)
In a recent statement, Frank Bisignano revealed that Charlie Scharf, the current CEO of Wells Fargo, was among those allegedly surveilled. Treasury Secretary Scott Bessent commended Bisignano for his leadership and results-driven approach at the IRS, while a JPMorgan spokesperson praised his service to the country. Additionally, a forensic review by JPMorgan's legal team reportedly found digital evidence of the spying, prompting the bank to implement stricter controls.
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(UPDATED July 21, 2026 19:28 UTC)
Frank Bisignano, the CEO of the IRS, has denied allegations of spying on fellow executives at JPMorgan Chase, stating, "None of it's true," while facing claims that he surveilled colleagues to maintain control and undermine rivals. Bisignano, who signed a settlement with Trump granting him immunity from certain tax audits, is also named in a class-action shareholder lawsuit alleging that Fiserv misled investors. The controversy has reportedly led to eroded trust from JPMorgan CEO Jamie Dimon, as internal complaints about Bisignano's conduct have surfaced.