Truist Bank Part of Pilot Project for Central Bank Digital Currency

Truist was formed by the “merger” of SunTrust and BB&T. Therefore, many citizens in North Carolina and the Piedmont Triad have accounts with the new entity.

BB&T used to be a great bank– indeed, a conservative bank. But the management culture of Truist has turned out to be much more similar to SunTrust than it is to BB&T. This “merger” was functionally a takeover by SunTrust.

It was announced this week that the Federal Reserve is launching a pilot project for a central bank digital currency. The Fed is involving a number of large banks to participate in this project. Truist is among these banks.

There are enormous issues with the adoption of a central bank digital currency. The regime can “turn off” the use of your money at the flip of a switch.

Some parties are recommending that citizens switch to small local and regional banks; or alternatively to credit unions. I have myself begun this project.

Cash that one can hold in one’s hand is a major indicator of freedom. Use it more often.


2 thoughts on “Truist Bank Part of Pilot Project for Central Bank Digital Currency

  1. TC: Don’t know about anything like that in Virginia. When I moved here I opened an account with a small community bank that has been around since 1881. Notably it declined to receive investment from the Troubled Asset Relief Program.

    Truist does have branches in Virginia.

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