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Violation Tracker Individual Record

Company: Truist Bank
Current Parent Company: Truist Financial
Parent at the Time of the Penalty Announcement:  subscribe to see this data field
Penalty: $9,125,000
Year: 2024
Date: October 21, 2024
Offense Group: financial offenses
Primary Offense: banking violation
Violation Description: Truist Bank (Truist), based in Charlotte, North Carolina, agreed to pay the United States $9,125,000 to resolve claims under the Financial Institutions Reform, Recovery and Enforcement Act of 1989 (FIRREA), in connection with the administration of certain trust accounts by SunTrust Bank from December 2011 through December 2015. SunTrust was acquired by Branch Banking and Trust Company in December 2019, and the combined entity was renamed Truist.
Level of Government: federal
Action Type: agency action
Agency: Justice Department Civil Division
Civil or Criminal Case: civil
HQ Country of Current Parent: USA
HQ State of Current Parent: North Carolina
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: banking
Source of Data: (click here)
Source Notes: If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.