Truist Financial

Banks sharpen focus on cost-cutting as revenue outlook dims

07/24/20

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.

[more]

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

07/17/20

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.

[more]

Truist hastens cost-cutting, delays core conversion

07/16/20

The North Carolina regional created by the merger of BB&T and SunTrust is saving money by shedding office space and reworking vendor contracts, but it was forced to put its systems integration on hold for up to a year to prioritize tech upgrades tied to the pandemic.

[more]

Truist, Truliant Federal Credit Union settle trademark suit

07/16/20

The case stemmed from the credit union's claims that the bank's branding would create confusion among consumers.

[more]

Fifth Third, Truist among banks closing early to observe 'Juneteenth'

06/16/20

As protesters continue to take to the streets to express outrage over racial injustice and inequality, banks — for the first time — will commemorate the date that marks the end of slavery in the U.S.

[more]

Guarded optimism from bank execs as economy reopens

06/09/20

Leaders of companies including Citizens, Comerica and Truist offered more upbeat assessments of loan demand and credit quality than they have in recent weeks. But others warned of weakness in key sectors such as energy and real estate, and said forbearance policies may be hiding potential pitfalls.

[more]

Coronavirus put Truist's innovation plans on fast track

05/21/20

The company, the product of a big merger shortly before the outbreak, had to build portals on the fly, help many customers shift to mobile and accomplish in days tasks that once took months, its digital chief says.

[more]

Truist discloses $125 million in expenses tied to rebranding

05/19/20

The company, formed by the merger of BB&T and SunTrust, shared the information in response to a credit union's legal challenge to its new name.

[more]

Coronavirus isn’t slowing Truist integration … so far

04/20/20

Executives say they can still meet their goal of $480 million in cost savings this year from the combination of BB&T and SunTrust despite unexpected expenses, unless the economy fails to rebound quickly.

[more]

Banks focus charitable giving on fighting coronavirus

03/26/20

From helping hospitals purchase new testing kits and ventilators to backing efforts to develop a COVID-19 vaccine, banks large and small are pledging millions of dollars to assist with medical relief efforts.

[more]