CIT Group

CIT chief Ellen Alemany set to receive large bonus from First Citizens merger


The veteran executive will receive a $13 million lump-sum payment if she stays with the North Carolina company for two years after the deal closes.


What’s behind the unlikely First Citizens-CIT deal


The family-owned bank from the South and the New York commercial lender each would fill a clear need for the other. First Citizens would gain business lending expertise and an online deposit-gathering platform, and CIT would get the cheap deposits it coveted.


First Citizens to buy CIT for $2.2 billion


The combined company would be the nation's 19th-largest bank with roughly $110 billion of assets.


2Q preview: Regional banks staring at steep profit declines


While elevated loan-loss provisions are expected to eat into all banks’ earnings, midsize banks could suffer more than their big-bank rivals because they have fewer revenue drivers. Meanwhile, investors will be watching closely for any signs of dividend cuts stemming from the Federal Reserve’s caps on payouts.


Otting's legacy at OCC? It's complicated


The comptroller of the currency, expected to step down Thursday after two and a half years on the job, ruffled feathers and won some fans in pushing through CRA reform, cutting costs and trying to reshape the agency’s examiner culture.


Banks finally start to spend big on giant batteries


Recognizing the sizable opportunity in batteries, some project finance banks have recently begun supporting battery developments, and others expect to follow soon.


CIT Group launches new products for small businesses, HOAs


A new app will allow small-business clients to quickly apply for credit while expanded offerings for homeowners associations will help CIT build up its base of low-cost deposits.


11 bankers and disruptors to watch in 2020


Can Charlie Scharf fix what ails Wells Fargo? How will Kelly King and Bill Rogers manage the integration of the biggest bank merger since the early 2000s? And will New Jersey Gov. Phil Murphy be able to beat back opposition from the banking industry and make good on his promise to create a state-owned bank? Here are 11 leaders to keep an eye on in 2020.


CIT Group's digital bank adds checking


The company says it's responding to the feedback of consumers who want online options beyond savings products.


CIT pledges $7.75B reinvestment as part of Mutual of Omaha deal


CIT Group has agreed to lend and invest the money mostly in California as well as in the eight states where Mutual of Omaha Bank has branches.