Truist is shutting down two Regional Acceptance Corporation facilities in Pitt County, North Carolina, cutting 253 jobs as the bank completely exits near-prime auto lending. State WARN filings show 156 positions eliminated at a Winterville facility and 97 at a Greenville location, with the first separations expected in November and the last facility closing in July 2027. Regional Acceptance is a Truist subsidiary that has specialized in auto loans for borrowers who don’t qualify for prime-rate financing.
What the closure doesn’t say: Truist hasn’t detailed how existing auto loans get serviced once the unit closes, a gap the debt-validation steps in The Bank Account & Debt Protection Kit are built to cover. Check the debt-validation steps for a loan in transition →
What Truist Confirmed About Regional Acceptance
Two Worker Adjustment and Retraining Notification filings submitted to North Carolina’s Department of Commerce, listed on the state’s Workforce WARN Summary List for 2026, confirm the closures: WARN #202600050 for a Winterville facility affecting 156 employees, and WARN #202600051 for a Greenville location affecting 97 employees, together totaling 253. Both notices were filed the same day, September 15, 2026. Regional Acceptance Corporation is a subsidiary of Truist Financial, according to Public Radio East’s report on the filings, which put the combined job losses at “more than 250” workers in Pitt County.
Two North Carolina Facilities, Two Closing Dates
The state’s WARN filings list different effective dates for the two Pitt County sites: the Winterville facility on Beacon Drive closes by February 28, 2027, while the Greenville location on East Fire Tower Road follows on July 31, 2027. Public Radio East’s report adds that the first wave of separations is scheduled to begin in November 2026, meaning the job losses roll out in phases well before either facility’s formal closing date and continue across roughly eight months rather than landing all at once.
The Business Truist Is Exiting
Both sources tie the closures to a single decision rather than two unrelated events: what Public Radio East’s report describes as “Truist’s strategic decision to completely exit the near-prime auto lending business.” Near-prime auto lending serves borrowers whose credit profiles fall short of qualifying for the lowest advertised rates, a segment Regional Acceptance has served as a specialized Truist subsidiary rather than through Truist’s own consumer branches. Truist Financial itself is one of the country’s largest regional banks, formed in 2019 through the merger of BB&T and SunTrust; Regional Acceptance operated underneath that larger parent as a standalone auto-finance brand rather than under the Truist name. Neither the WARN filings nor the news report explains why Truist chose to exit that business line entirely rather than restructure it, and no company statement accompanies either filing.
An Exit, Not Just A Round Of Cuts
The distinction between “exit the business” and an ordinary layoff matters for how the closures unfold. A bank trimming staff at an underperforming unit typically keeps the unit itself running afterward; a bank exiting a business line entirely, as Truist’s own description of this decision states, is winding the operation down rather than resizing it. That reading is consistent with what the WARN filings show: both Pitt County facilities close outright, on two different dates roughly five months apart, rather than one location absorbing staff or functions from the other. The staggered dates also mean the smaller of the two facilities, the 97-job Greenville site, keeps operating for roughly five months after the larger 156-job Winterville facility has already shut its doors, a sequencing neither the WARN filings nor the news coverage explains beyond the two effective dates themselves.
What The Exit Leaves Open For Current Borrowers
Neither the WARN filings nor the news coverage of them addresses what happens to auto loans Regional Acceptance already holds once the unit winds down — whether those accounts continue under the same servicer through the closure dates, transfer to another Truist unit, or move to a different company altogether. Auto loans do not carry the same federal servicing-transfer notice rules that apply to mortgages under the Real Estate Settlement Procedures Act, so a borrower whose loan does change hands during Regional Acceptance’s wind-down cannot count on the same advance-notice protections a homeowner would get. That gap matters for a borrower with an existing Regional Acceptance auto loan: a change in who services a loan is also a moment when scam contacts posing as a “new servicer” become harder to distinguish from a legitimate transition notice.
What The WARN Filing Means For Affected Workers
The federal WARN Act requires covered employers, generally those with 100 or more employees, to give “at least 60 calendar days” notice before a mass layoff or plant closing, according to the Department of Labor’s own WARN Act regulations, which is the legal basis for the filings North Carolina’s Commerce Department now lists publicly. With notices filed September 15 and the first separations expected in November, the Winterville and Greenville filings track that general notice window rather than announcing an immediate, unannounced shutdown. For workers at both facilities, that window is the practical difference between finding out about a job loss the day it happens and having roughly two months of lead time to look for other work, apply for unemployment benefits, or plan around a fixed date rather than an open-ended one. Public Radio East’s report notes that local economic development teams are already stepping in to help affected employees find new jobs ahead of the phased closures.
The Loan Question A Business Exit Doesn’t Answer
Truist’s decision to completely exit near-prime auto lending closes two Regional Acceptance sites in Pitt County and eliminates 253 positions, but nothing in the state’s WARN filings or the reporting on them addresses what an existing borrower should expect if their loan’s servicing moves to a different company. That kind of transition is exactly when a borrower needs their own account records in order, since a new servicer’s first contact can be hard to tell apart from an impersonation attempt.
The Bank Account & Debt Protection Kit walks through the debt-validation steps for confirming a new servicer’s claim and a protected-funds and dispute log for tracking payments through a transition.
Compare a servicer’s claim against the debt-validation steps in The Bank Account & Debt Protection Kit.
This article was produced with AI assistance and checked against the primary sources linked above.
Warren Cohen is a finance writer based in Phoenix, Arizona, covering personal finance topics including credit, banking, and beginner investing. He earned his degree in business administration from Arizona State University and began his career working in consumer finance, where he gained direct experience with lending and credit systems. He now writes for personal finance websites and fintech platforms, focusing on clear, practical content that helps readers make informed financial decisions.
