The Texarkana Gazette is reporting that Red River Bancshares Inc. and its licensee, Red River Bank LSCB, both based in Alexandria, La., is suing Texarkana-based Red River Employees Federal Credit Union for alleged trademark infringement and unfair competition.
The lawsuit was filed on October 24 in the Western District of Louisiana federal court after the purchase and assumption by Red River Federal Credit Union of liquidated Shreveport Federal Credit Union, which had branches in the trade area of the bank.
The bank contends that the entry of the credit union into its market area has generated customer confusion.
The complaint alleges that the credit union is infringing on its trademark and engaging in unfair trade practices in violation of federal law and in violation of the Louisiana Unfair Trade Practices Act.
The bank wants the court to rule that the credit union cannot use the names Red River Employees Federal Credit Union, Red River Credit Union and the RRFCU logo or any other similar variant.
The bank is also seeking attorney fees and actual damages and want an accounting of Red River FCU's profits in Louisiana and Mississippi.
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