SunTrust Banks

Introduction

SunTrust Banks is a prominent American bank holding company. The largest subsidiary of the company is SunTrust Bank, which offers a wide range of financial services such as deposit, credit, trust, and investment services to a broad range of retail, business, and institutional clients.

History

SunTrust Banks was established in 1891 in Atlanta, Georgia, where its headquarters remain to this day. The bank has a rich history, with many significant events marking its growth and expansion over the years.

Services

SunTrust Banks offers a variety of financial services. These include:

• Checking and Savings Accounts
• Credit Cards
• Mortgages
• Wealth Management
• Commercial Banking

Mergers and Acquisitions

Over the years, SunTrust Banks has been involved in several mergers and acquisitions. The most notable of these was the merger with BB&T in 2019, which resulted in the creation of Truist Financial Corporation, the sixth-largest U.S. commercial bank.

Controversies

Like many large corporations, SunTrust Banks has faced its share of controversies. These have ranged from lawsuits and fines related to its mortgage practices to criticism over its handling of customer data.

Conclusion

SunTrust Banks has played a significant role in the American banking industry. Despite facing various challenges and controversies, it has remained a major player in the sector, providing a wide range of financial services to millions of customers.

See Also

• BB&T
• Truist Financial Corporation
• Banking in the United States

External Links

• Official Website