WINSTON-SALEM, N.C. — Truliant President Todd Hall doubled down on the Winston-Salem-based federal credit union’s antipathy for merging competitors BB&T and SunTrust’s using “Truist” as its new name.
Truliant filed suit in June in U.S. District Court for the Middle District of North Carolina seeking to block the two merging banks from branding itself with the name "Truist," which Truliant feels is too similar to its own.
“We’ve committed two decades, millions of dollars and uncountable hours of dedicated service to our member-owners to build our reputation,” Hall said Tuesday.
“It is disingenuous to trade on someone else's reputation. We will always advocate for what is best for our current and future member-owners."
As of Tuesday evening, neither BB&T Corp. (NYSE: BBT) nor SunTrust Banks Inc. (NYSE: STI) had filed a response to the suit.
The proposed full name of the new BB&T/SunTrust – to be voted on soon by BB&T shareholders – is “Truist Financial Corp.,” although the name wouldn't become official until the conclusion of the merger.
