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”
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.
Your small community bank sounds like a winner, Fred.
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