Synchrony has been operating since 2003 and the bank has maintained a solid track record. With its limited product line, the bank does have some protection against adverse economic times. Since the bank does not offer personal loans or mortgages, there is less risk of default if people start to struggle with their finances. So, Synchrony should be prepared for a recession and its customers still have the reassurance of FDIC insurance for up to $250,000 in deposits.