CIT Group

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.


CIT's deposit costs soar, but acquisition will bring relief, CEO says


Ellen Alemany said that CIT's deal for Mutual of Omaha Bank will immediately lower the bank's deposit funding by 20 basis points. She also reiterated that the acquisition would make CIT more attractive to potential buyers.


Mnuchin's former bank agrees to $100M redlining settlement


The Department of Housing and Urban Development approved a settlement in favor of the California Reinvestment Coalition against CIT Group's OneWest Bank, which was run by Steven Mnuchin prior to him becoming Treasury secretary.


Wells Fargo, CIT Group and Marcus: Bankers on the Move


The resignation of Wells Fargo CEO Tim Sloan represented more troubles for an already scandal-ridden financial institution.


CIT Group hires TIAA's Hubbard as top lawyer


James Hubbard will replace Stuart Alderoty, who left CIT earlier this year to join the fintech Ripple.


War for online deposits eats into CIT Group's 4Q profit


Earnings fell well short of analysts' estimates due in part to a 28% increase in interest expenses.


Calabria's GSE effect, 2019 fintech, Kraninger's CFPB: Top stories of the week


What an FHFA led by Mark Calabria would mean for GSE reform; 7 (realistic) predictions about fintech in 2019; Kathy Kraninger signals new tone atop CFPB; and more from this week's most-read stories.