WINSTON SALEM, N.C. -- Truliant filed a lawsuit Monday, challenging Truist bank, according to a news release from Truliant.
Truliant filed the lawsuit over similarities between the two names in the United States District Court for the Middle District of North Carolina.
“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, in a news release from Truliant.
Truist is the intended name for the new merged BB&T and SunTrust financial institution and will be based in Charlotte if the merger closes by the planned time later in 2019.
BB&T and SunTrust plan to vote on the new name in the coming months.
“By using a name that is very similar to our Truliant® brand name and other “Tru” family trademarks, SunTrust and BB&T will be trading on the equity we have built,” Hall said.
Truist will become the sixth largest United States bank and the merger is estimated at about $66 billion.