Regional Acceptance Corporation, a Truist Bank affiliate, told the Texas Workforce Commission it plans to permanently close its facility on East Bardin Road, according to a Sept. 15 WARN Notice. The company said its closure is tied to the sale of certain assets and that operations at the Arlington facility are expected to end around February 28, 2027.
About 205 full-time employees at the Arlington office are expected to lose their jobs, with the first separations set to begin around Nov. 30 and a second round of layoffs by Feb. 28.
Regional Acceptance is not a household name for many Texans, but its work may seem familiar: auto loans. On its website, the company describes itself as a national auto finance company with more than 40 years of lending experience and says in the notice that it is an affiliate of Truist Bank.
Truist, headquartered in Charlotte, N.C., describes itself as a top-10 U.S. commercial bank with wholesale and consumer businesses including small business and commercial banking, wealth management, payments and specialized lending. The company reported $556 billion in total assets as of June 30.
Texas is just one of three sites that will experience layoffs, according to Spectrum News. A total of 458 employees across Texas and North Carolina will experience layoffs, including 156 in Winterville, 97 in Greenville and 205 in Arlington.
“We’re committed to supporting them through this transition including consideration for other roles at Truist, severance benefits, and job search assistance,” Brian Davis, director of consumer and small business banking communications for Truist, told Chron in an emailed statement.