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Truist Financial Corporation is an American bank holding company headquartered in Charlotte, North Carolina. [7] The company was formed in December 2019 as the result of the merger of BB&T (Branch Banking and Trust Company) and SunTrust Banks.
FDIC insurance covers up to $250,000 on individual deposit accounts in the event that the bank fails. That’s why many people prefer to keep their bank account balances under $250,000 .
Truist announced plans to relocate the bank's executive team, corporate communications, finance, human resources, insurance, legal, technology, and risk management to the building. The bank will move in phases in August 2020 and lasting until June 2021. [32] The bank plans to have as many as 2,000 in the building. [28]
Truist moved its corporate headquarters to Hearst Tower, which was renamed Truist Center. [20] Truist had taken over 550,000 square feet (51,000 m 2) of 965,000 square feet (89,700 m 2) total. [21] The bank announced the deal was completed March 31, 2020. However, due to the COVID-19 pandemic, further actions would be delayed. [22]
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The Charlotte-based bank detailed the moves at an investors conference on Monday. Truist bank discloses plans for ‘sizable’ layoffs as part of $750 million in cuts Skip to main content
The Charlotte Observer contacted Bank of America, Truist and Wells Fargo for comment. Truist and Wells Fargo directed questions to The Clearing House, an operator of networks that clears and ...
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