A Winston-Salem-based credit union is filing a trademark lawsuit against BB&T and SunTrust over their proposed new name.
Truliant Federal Credit Union is suing to protect its brand after BB&T and SunTrust announced that the name for their merger would be Truist Financial Corporation.
The case was filed in a federal court this week.
In a written statement Truliant says its name is a federally registered trademark that's been in use for 20 years.
President Todd Hall says this is an infringement on Truliant's brand and will confuse customers as the two entities' business regions overlap.
The new name for BB&T and SunTrust is not yet official. Shareholders will vote on the merger and the name in the next few months. The new entity will be the sixth largest bank in the United States.
Correction: A broadcast version of this story aired citing the new name for the BB&T and SunTrust entity as Truism Financial Corporation. The correct name is Truist Financial Corporation.