Error: Data could not be saved. String or binary data would be truncated. - when editing posted payment designation

When editing the designation on a posted payment, and then saving the payment, the following error occurs"

"Data could not be saved. String or binary data would be truncated."
This error indicates that there is a string of characters that is too long to be saved.  This is most likely the designation name itself.  Edit the designation, and reduce the length of the name.

Environment

 Blackbaud CRM

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