Finance
Truist to End Sales and Trading of MBS, Government-Agency Bonds
- North Carolina-based bank to exit the businesses by January
- About 80 employees cut, people with knowledge of matter say
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Truist Financial Corp. plans to stop sales and trading of mortgage-backed securities and government-agency and Small Business Administration bonds by January.
The Charlotte, North Carolina-based bank cut about 80 people in its Atlanta and Memphis, Tennessee, offices on Thursday in connection with the changes, according to people with knowledge of the matter who asked not to be identified discussing information that isn’t public.