Federal Agrees to Change Name; McLean Thrift Settles Infringement Dispute With Roanoke S&L
A headline in Saturday's Business section incorrectly referred to Dominion Bankshares Corp. as a savings and loan. It is an $8.9 billion bank holding company headquartered in Roanoke. (Published 11/8/88)</br></br>Dominion Federal Savings and Loan Association of McLean will change its name by next Sept. 1 as a result of an out-of-court settlement reached yesterday with Dominion Bankshares Corp. of Roanoke.</br></br>Dominion Bankshares will pay Dominion Federal an undisclosed amount for all of the rights to the Dominion name, according to the Roanoke bank.</br></br>Dominion Federal has not yet chosen a new name, according to a company spokesman. It plans to pick a shorter name, and then begin changing its signs, checks, bank forms and advertising and marketing programs.</br></br>Dominion Bankshares filed suit against Dominion Federal in February in U.S. District Court in Roanoke, alleging trade name infringement and unfair competition. The Roanoke Dominion claimed that its customers confused it with Dominion Federal to an extent that was "intolerable," that the S&L's customers frequently came to the bank to do business, and that mail and telephone calls were often misdirected.