On June 15, GAO publicly released a June 8 letter identifying two FDIC priority areas for open recommendations: strengthening bank supervision and addressing blockchain technology risks. GAO noted that, as of June, the FDIC had six open recommendations, including three priority recommendations, after implementing one priority recommendation since GAO’s May 2025 letter. The letter states that fully implementing the remaining open priority recommendations would better position the FDIC to achieve its mission more effectively and efficiently.

The letter cites the 2023 bank failures in the United States as raising questions about whether federal banking regulators took sufficient action to ensure that financial institutions promptly addressed supervisory concerns, such as weak liquidity and risk management practices. With respect to bank supervision, GAO found in 2024 that the FDIC did not require periodic rotation of assignments for certain case managers, and that implementing rotation requirements could mitigate threats to independence and better ensure that escalation decisions are independent and evidence-based. As to blockchain technology risks, GAO found in 2023 that financial regulators lacked an ongoing coordination mechanism and that establishing one would help the FDIC and other regulators identify risks and develop and implement a timely regulatory response. The letter also notes that the two priority areas relate to GAO’s “High Risk List.” GAO separately observed that the U.S. financial regulatory structure is fragmented and said implementing its blockchain recommendation would help ensure regulators take a collective approach to blockchain regulation.