The truist suntrust is a company that believes in eliminating the unnecessary hassles and stress in life. They offer products and services that make it easier for people to live their lives without worrying about the small things.
Customers having issues at Truist Bank in wake of SunTrust merger
[ytvideo]Truist and SunTrust Complete Merger to Become the Sixth Largest U.S. Bank
Hello all! This is a momentous day for Truist and SunTrust, as we announce that we have completed our merger to form the sixth largest U.S. bank. This merger is a culmination of years of hard work and determination on our part, and we are excited to finally see it through.
We are confident that our combined strength will result in even more successful growth for our customers and employees alike. We are committed to working hard to build a quality institution that our customers can trust, and we look forward to bringing our unique approach to banking to more people across the country.
Thank you for your support as we move forward.
What the Merger Means for Customers
In a surprising move, Suntrust Banks has announced that it will be merging with BB&T. While the merger is still in the early stages, it has the potential to create some serious changes for customers of each bank.
Suntrust is the smaller of the two banks, with a total assets of just under $150 billion as of September 30, 2016. BB&T, on the other hand, has a total assets of over $1 trillion.
The merger could lead to some serious reductions in customer service and product offerings. For example, Suntrust may be forced to close some of its smaller branches, and BB&T may decide to strip down its product line to focus on larger, more profitable accounts.
However, the merger could also lead to better customer service. For example, BB&T offers a number of customer service channels, such as online and telephone, that Suntrust may not be able to replicate. In addition, the two banks have a good relationship with each other, which may make it easier for customers to transfer their account to the new bank.
Overall, the merger is a mixed bag for customers. While there may be some changes, the potential benefits of the merger (better customer service, reduced product offerings) outnumber the potential costs (closings of branches, less variety in product lines). However, customers should always keep their eyes open for updates, as the merger could still change substantially before it’s finalized.
How the Banks Will Operate Under the New Name
The banks will operate under the new name, truist suntrust, with the same products and services as before. The only difference is that the name will be different. This change is not likely to have a significant impact on the way banks operate. The only real change likely to occur is that customers may be more likely to encounter the name truist suntrust when searching for a bank.
What Locations Will Be Impacted by the Change
SunTrust Banks has announced that they will be discontinuing all banking services in Alabama, Florida, Georgia, Kentucky, Mississippi, North Carolina, South Carolina, Tennessee, and Virginia. This means that any SunTrust Bank customer residing in these six states will be unable to access their accounts, make transfers, or use any other services.
Why is SunTrust doing this?
SunTrust cites the current regulatory environment and the increased cost of compliance as reasons for the change. In particular, SunTrust notes that the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank) has increased the amount of reporting and compliance requirements for banks. Additionally, the Brexit vote has made UK banks more expensive to operate in, as they are now subject to additional regulations.
What Should I Do If I’m Affected by the Change?
If you reside in one of the six states listed above, you should contact SunTrust to see if they can transfer your banking services to a different provider. You can also contact your bank’s customer service department to inquire about other banking options.
How Employees Will Be Affected by the Merger
Employees of both truist suntrust and its parent company, SunTrust Banks, will be affected by the proposed merger. The proposed merger will create a new bank with over $2 trillion in assets. Employees of the new bank will be absorbed into the existing SunTrust Banks organization.
The new bank is expected to have a more centralized management style, with fewer regional offices. This will result in reduced job opportunities at the regional offices. However, the new bank is expected to create many new job opportunities in the technology, marketing, and financial services industries.
The Truist Suntrust blog section was created to provide employees with information about the proposed merger and the potential job opportunities it will create. If you are an employee of truist suntrust or SunTrust Banks and would like to provide input about the merger, please contact us.
What the New Bank’s Priorities Will Be
It has been reported that the new bank truist suntrust will be prioritizing its efforts on increasing its customer base, increasing its profits and decreasing its expenses.
We can expect that the new bank will be looking to increase its customer base by marketing itself more aggressively and by offering more competitive rates and products. It will also be looking to increase its profits by cutting costs and by increasing its lending volume. Finally, it will be trying to decrease its expenses by consolidating its operations and by reducing its staff levels.
Overall, we can expect the new bank to be focusing on increasing its profits and its customer base.
Conclusion
There are a few things to keep in mind when considering a truist suntrust account. First, the bank is committed to providing high-quality products and services to its customers. Second, the bank has a wide range of products and services to choose from, so you’re sure to find the perfect fit for your needs. Finally, truist suntrust is a great place to start your financial journey, and there’s a wealth of information available to help you make the most of your money.
