Section 5. The commissioner shall examine the data available under the reporting systems, make positive identification of cases in which recipients of programs included in the reporting systems are receiving wages or have other assets in excess of any threshold requirement established by the administering agency or agencies, and furnish such agency or agencies the cases of recipients so identified. The information furnished to such agency or agencies shall include the name of the recipient, social security number and other data to assure positive identification, the name and identification number of the employer or payor of income or the name and location of the state and federally chartered savings banks, state and federally chartered savings and loan associations, cooperative banks, state and federally chartered credit unions, trust companies, national banking associations, mutual funds, brokers, benefit associations, pension or retirement plans, insurance companies, safe deposit companies or other similar companies, and the amount of wages received or amount of financial resources, or other information as determined by the commissioner. Upon the receipt of such information, such agencies, and where appropriate, local administering agencies or local housing authorities, shall seek to verify the accuracy of the information, including consultation with the recipient whose status is in question. If after such informal inquiry an agency, or where appropriate, local administering agencies or local housing authorities, determine that a recipient has incorrectly received benefits under such a program, such agency shall take appropriate formal action in accordance with state and federal law to correct the error, including, but not limited to, termination of benefits. No adverse action shall be taken against any recipient in the unemployment insurance benefits program or the public assistance program of the department of transitional assistance, except after affording such recipient full opportunity to contest such action in accordance with the law, including prior notice and hearing. No adverse action shall be taken against recipients in the other programs included in the reporting systems except after meeting with such recipients, providing them with an explanation for the proposed action, detailing the evidence upon which the action is based, and allowing for any other procedures which an administering agency uses to take an adverse action against a recipient in its program.