00:00It's Benzinga bringing Wall Street to Main Street.
00:02Social Security Administration will require in-person identity verification
00:05for recipients who can't confirm their identity online, according to CBS News.
00:10The change coincides with the closure of dozens of SSA field offices and potential mass layoffs.
00:15Critics argue the policy will burden elderly, rural, and low-income individuals,
00:20especially those without internet access.
00:22The White House says the move targets fraud prevention,
00:24setting $100 million in annual fraud losses.
00:27Advocates warn the policy could collapse the system
00:30and accuse the administration of trying to privatize Social Security.
00:34For all things money, visit Benzinga.com slash GSTV.
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