Truist Financial

Truist commits $40M to loan fund aimed at closing racial wealth gap


The fund will support Community Development Financial Institutions that lend to minority- and women-owned businesses. The Charlotte, N.C., company is the latest big bank to make a large dollar commitment focused on alleviating racial and economic inequality.


Truist launches a venture capital unit


The new unit plans to connect the startups it backs, such as the global payments network Veem, with experts at the company who can provide business advice.


Federal overhaul of M&A rules could favor small-bank deals


Justice Department officials have embarked on a rewrite of antitrust policy that could waive certain requirements for community bank mergers and provide fewer advantages to large, out-of-town buyers and banks in urban areas.


Banks prevail in first court decision over PPP fees for agents


A federal judge in Florida ruled that lenders are not required to make payments to borrowers' attorneys and accountants unless they struck upfront agreements to do so. The decision has implications for a slew of related lawsuits.


Banks ramp up child care, home-schooling support for working parents


As their employees continue to navigate the challenges of balancing work and home life during a pandemic, banks are pitching in to offer everything from child care reimbursement to nanny placement to tutoring services.


Truist’s pandemic chatbot could have staying power


Built to respond to borrowers' questions about mortgage deferrals, the bot created by Salesforce is evolving and in the future could schedule appointments, answer questions about new digital products or help with emergencies.


PPP forgiveness plan disappoints, OnDeck fire sale, GSE liquidity: Top stories of the week


Bankers are left wanting after details on PPP forgiveness plan emerge; why OnDeck is being sold on the cheap; Fannie, Freddie to face banklike liquidity standards starting Sept. 1; and more from this week’s most-read stories.


How the pandemic redefined Truist's philanthropic priorities


The company's foundation, whose mission had been carefully planned by BB&T and SunTrust before their merger, opened just nine days before the novel coronavirus was declared a pandemic. Here’s what happened next.


Banks sharpen focus on cost-cutting as revenue outlook dims


With the coronavirus pandemic intensifying and hopes for a quick economic recovery fading, banks large and small are reducing headcounts, shuttering branches, shedding office space and generally trying to trim expenses wherever they can.


Wells takes back chunk of bad loans, CFPB probes Quicken unit, Truist’s cost-cutting: Top stories of the week


Wells Fargo buys $14B of delinquent mortgages tied to pandemic; CFPB launches investigation of Quicken Loans real estate affiliate Rocket Homes Real Estate; Truist accelerates cost-cutting plans; and more from this week’s most-read stories.