FDIC looks to direct monitoring of fintech firms after Synapse collapse, Bloomberg News reports
Dec 04, 2024

FDIC looks to direct monitoring of fintech firms after Synapse collapse, Bloomberg News reports

(Reuters) - The Federal Deposit Insurance Corporation has started to directly monitor financial-technology companies that partner with banks across the U.S., Bloomberg News reported on Wednesday.

The fintech monitoring system will help FDIC examiners anticipate potential vulnerabilities before they become a problem for banks, the report added, citing people familiar with the regulator's supervisory operations.