The merger between SunTrust and Truist (BB&T Financial) is causing substantial issues for banking customers, including a lack of access to customers’ funds.

Truist (BB&T Financial) and SunTrust announced a “merger of equals” in 2019. The merger has reportedly resulted in substantial issues for customers, including some customers having their accounts closed for “suspicious activity” when simply attempting to login to their accounts as normal. Other issues that users are reporting as a result of the merger include an inability to view their statements, unhelpful customer support, inability to pay bills, and other problems. Some customers even report having their accounts disabled altogether, and temporarily being unable to access any of their funds. 

Truist-Suntrust does not appear to have any arbitration or class action waiver provisions in their terms & conditions. 

Bank of America faced a similar lawsuit in 2021, in relation to their freezing of customers’ accounts after failing to protect them from fraudsters. 

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    Sources

    https://www.reddit.com/r/personalfinance/comments/t5sxk8/the_truist_merger_has_been_a_real_dumpster_fire/
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