WINSTON-SALEM, N.C. — Truliant Federal Credit Union announced today it has filed a lawsuit in federal court challenging Truist bank, the new name of the merged BB&T and SunTrust banks.
Truliant is arguing that the name Truist is too close to its own, and will confuse consumers.
“This is a clear infringement on our name, and their proximity to our main business region will confuse consumers and undermine the trust we have built in our institution,” said Todd Hall, Truliant’s President. “As a member-owned cooperative and community leader, it is very important for consumers to be able to make this distinction.”
A spokesperson for BB&T sent us the following statement:
"The companies [BB&T and SunTrust] conducted a rigorous process to research, select and secure the new name. Beyond that, BB&T does not comment on pending litigation."
Truliant Federal Credit Union was founded in 1952 in Winston-Salem. The company says the Truliant brand name has been in use since 1999.
BB&T and SunTrust announced their merger earlier this year, and last week, announced their new identity as Truist.
