Becker's ASC

CIT Group Seeking Overseas Funding to Support Lending

CIT Group, the New York consumer- and commercial-finance company, is pursuing funding from an overseas bank to support its lending business, according to the March 24 Wall Street Journal. The news ...
Reuters

CIT bankruptcy to leave small businesses concerned

NEW YORK (Reuters) - CIT Group Inc's bankruptcy filing could push at least some small businesses it finances to look for a new lender, but finding new credit will be tough. CIT filed for bankruptcy ...
The New York Times

CIT Group Inc.

A Jersey City tower built by the family firm was financed with some $190 million in loans, including $50 million through the so-called EB-5 visa program. By Jesse Drucker and Charles V. Bagli In a ...
St. Louis Post-Dispatch

Bondholders will bail out CIT Group Rescue is first in crisis without federal help or oversight.

Commercial lender CIT Group Inc. confirmed late Monday that it has secured a $3 billion bailout from its bondholders, saving the company from filing for bankruptcy. It's a new twist in the financial ...
St. Louis Post-Dispatch

CIT has 'tentacles' all over Problems at short-term lender send panic throughout the retail industry.

The possible collapse of a key lender is sending panic through the retail industry, threatening to hang up deliveries of back-to-school clothing and other merchandise and throw holiday ordering into ...
NPR

Retail Lender CIT Group Files For Bankruptcy

CIT Group Inc. provides financing to about 1 million small and mid-sized businesses. Its bankruptcy filing Sunday could be one of the biggest in U.S. corporate history. The government lent CIT more ...
CNN

CIT Names Managing Director to Lead Asset-Based Lending Unit

NEW YORK, July 9, 2020 /PRNewswire/ -- CIT Group Inc. (NYSE: CIT) today announced that it has named Chris Esposito as managing director in charge of its newly expanded Asset-Based Lending business. In ...
Times Union

CIT Group amends its offer

CIT Group Inc., a major lender to small and midsize businesses that has struggled under mounting losses and tight credit availability, has amended its debt restructuring offer to enlist more ...
Washington Examiner

CIT Group loss widens, but beats predictions

NEW YORK (AP) — Commercial lender CIT Group Inc. said Monday that its second-quarter loss widened, partially as a result of hefty debt-refinancing charges. CIT’s loss amounted to $70.7 million, or 35 ...
Reuters

Avolon Holdings to buy CIT Group's aircraft leasing unit for $10 billion

(Reuters) - Avolon Holdings Ltd, part of China's acquisitive HNA Group, said on Thursday it agreed to buy the aircraft leasing business of CIT Group Inc for $10 billion to create the world's ...
The Atlantic

CIT Group Goes Bankrupt--Who Wins, Who Loses?

Clocking in as the fifth largest bankruptcy in U.S. history, CIT Group filed for Chapter 11 bankruptcy protection on Sunday. The 101-year-old commercial lender will try to restructure its debt while ...