Cryptocurrencies
FDIC Looks to More Fintech Tracking After Synapse Collapse
- System meant to identify problems before they affect banks
- Collapse of Synapse left customers unable to access deposits
This article is for subscribers only.
The Federal Deposit Insurance Corp. has started to more closely track financial-technology companies that partner with banks across the US, according to people familiar with the regulator’s supervisory operations.
The system will help FDIC examiners anticipate potential vulnerabilities before they become a problem for banks, according to the people, who asked not to be named because they were not authorized to speak publicly.