Prudential Insurance Co. of America, a unit of Prudential Financial Inc., has sued Prudential Bancorp Inc. subsidiary Prudential Bank for alleged trademark infringement and unfair competition.
Newark, N.J.-based Prudential Insurance alleged that, long after it adopted and used the Prudential mark and design, Philadelphia-based Prudential Bank in 2017 changed its name and adopted a similar blue and white color scheme and lettering combination for its banking and financial services. This, the company alleged in its complaint filed in a New Jersey district court, could cause customers to associate Prudential Bank with Prudential Insurance. Earlier, the bank was called Prudential Savings Bank.
Prudential Insurance alleged that Prudential Bank has harmed and damaged it since its principal place of business is in Newark. Prudential Insurance, which has used the Prudential trade name and mark since 1875, owns and operates Prudential Bank & Trust in Connecticut.
It further said it adopted the name and mark The Prudential Savings Bank in 1989 and owned a federal trademark registration for that name from 1992 to 1998. It also adopted the name and mark Prudential Bank in 1989 and owned a registration for it from 1992 to 2003.
Prudential Insurance has sought a preliminary and permanent injunction to restrain Prudential Bank and its affiliates from using the name and mark or from using the name Prudential with other terms in a similar color scheme and lettering. It is also seeking additional damages and costs and attorneys' fees.
Prudential Bank did not immediately respond to a request for comment on the matter.