Suntrust and BB&T Being Sued Over New Name

A North Carolina-based credit union is suing Atlanta-based Suntrust and BB&T over the name they’ve selected for their proposed merger.

The merger partners announced last week they’ll be called Truist after they combine, pending regulatory approval.

The Charlotte Observer reports that Truliant Federal Credit Union filed suit in federal court, saying that Truist is a clear infringement on their name and that the new company’s proximity to Truliant’s main business region will confuse consumers and undermine trust. SunTrust and BB and T said last they went through thousands of names and that Truist was clearly a winner.

Once the merger is approved, Truist will form a bank expected to be headquartered in Charlotte.

GNN