The Social Security Administration (SSA) operates the Consent Based Social Security Number Verification (CBSV) service, a fee-based program that allows financial institutions to verify that their records of a person’s name, date of birth, and Social Security Number match SSA’s data. SSA tells institutions only whether the data does or does not match; no other detail is provided. The fees are classified as offsetting collections that are credited against SSA’s discretionary appropriations.
H.R. 5192 would change the CBSV program by allowing people to electronically verify their consent to allow SSA to provide this information, rather than with a physical signature. CBO expects that change would expand the number of verification requests submitted to SSA.