{"id":1366771,"date":"2022-03-09T10:46:00","date_gmt":"2022-03-09T15:46:00","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1366771"},"modified":"2022-03-09T10:46:04","modified_gmt":"2022-03-09T15:46:04","slug":"fact-check-no-social-security-numbers-are-not-bank-accounts-controlled-by-the-federal-reserve","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/fact-check-no-social-security-numbers-are-not-bank-accounts-controlled-by-the-federal-reserve\/","title":{"rendered":"FACT CHECK: No, Social Security Numbers Are Not Bank Accounts Controlled By The Federal Reserve"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">30<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Ffact-check-no-social-security-numbers-are-not-bank-accounts-controlled-by-the-federal-reserve%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1366771&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div><\/div>\n<p>A post <a href=\"https:\/\/archive.ph\/94b2o\" target=\"_blank\" rel=\"noopener noreferrer\">shared on Facebook<\/a> over 480 times claims Social Security numbers are linked to accounts controlled by the Federal Reserve.<\/p>\n<p><span><strong>Verdict: False<\/strong><\/span><\/p>\n<p>Social Security numbers are not tied to Federal Reserve-controlled bank accounts. The Federal Reserve has refuted such claims and confirmed it doesn\u2019t maintain accounts for individuals.<\/p>\n<p><span><strong>Fact Check:<\/strong><\/span><\/p>\n<p>The <a href=\"https:\/\/archive.ph\/94b2o\" target=\"_blank\" rel=\"noopener noreferrer\">post<\/a> purportedly shows a Social Security card from 1936 alongside one created more recently. \u201cThe ss card on the top is a card from 1936\u2026 Now if you look at this card, what does it say? ACCOUNT NUMBER!!\u201d the caption states. \u201cNow the one at the bottom are the new ss cards\u2026 You notice they took the words account number off because they don\u2019t want you to know that your ss card is an account connected to the federal reserve banks!!\u201d<\/p>\n<p>The original 1936 design for Social Security cards included the phrase \u201caccount number,\u201d but it was removed as the design changed over the years, according to the Social Security Administration\u2019s (SSA) <a href=\"https:\/\/www.ssa.gov\/history\/ssn\/ssnversions.html\" target=\"_blank\" rel=\"noopener noreferrer\">Version History webpage<\/a>. The number on an individual\u2019s Social Security card does not correlate with a Federal Reserve bank account, however.<\/p>\n<p>The Federal Reserve previously released a <a href=\"https:\/\/www.federalreserve.gov\/faqs\/does-the-federal-reserve-maintain-accounts-for-individuals-can-individuals-use-such-accounts-to-pay-bills-and-get-money.htm\" target=\"_blank\" rel=\"noopener noreferrer\">statement<\/a> on its website debunking the claim, stating that it only provides \u201cfinancial services to banks and governmental entities\u201d and that \u201cindividuals cannot, by law, have accounts at the Federal Reserve.\u201d <a href=\"https:\/\/checkyourfact.com\/2018\/02\/11\/fact-check-does-the-federal-government-borrow-1-million-every-minute\/\" target=\"_blank\" rel=\"noopener noreferrer\">(RELATED: Does The Federal Government Borrow $1 Million Every Minute?)<\/a><\/p>\n<p>The statement goes on to confirm claims about Social Security numbers being tied to Federal Reserve-controlled bank accounts are false and reiterates the Federal Reserve does not maintain accounts for individuals. \u201cIndividuals who attempt to pay bills or conduct other transactions using a Federal Reserve Bank routing number may face penalty fees from the company they were attempting to pay, or the suspension or closure of their commercial bank or payment service provider accounts,\u201d the statement warned.<\/p>\n<p>The nine digits included on a Social Security card do not equate to a bank account number. The first three digits, called the area number, indicate the state of residence listed on the Social Security number application form, according to the SSA\u2019s \u201c<a href=\"https:\/\/www.ssa.gov\/policy\/docs\/ssb\/v45n11\/v45n11p29.pdf\" target=\"_blank\" rel=\"noopener noreferrer\">Meaning of the Social Security Number<\/a>\u201d guide. The next two numbers, referred to as the group number, are used for the SSA\u2019s processing measures, while the last four, labelled the serial number, are randomized, the guide states.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A post shared on Facebook over 480 times claims Social Security numbers are linked to accounts controlled by the Federal Reserve.Verdict: False Social Security numbers are not tied to Federal<\/p>\n","protected":false},"author":1,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1366771","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1366771","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1366771"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1366771\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1366771"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1366771"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1366771"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}