News Topic: CIT Group

The five-year pledge, tied to the company's pending acquisition of CIT Group, earmarks nearly $6 billion for small-business lending and $3.2 billion for affordable housing. ... Read full article

CIT Group over a year's time brushed off several offers from First Citizens BancShares, entertained rival bids and kept negotiating on price and board representation before striking a deal, according to a new regulatory filing. ... Read full article

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. ... Read full article

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 ... Read full article

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

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 ... Read full article

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. ... Read full article

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

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. ... Read full article

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 ... Read full article

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

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. ... Read full article

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. ... Read full article

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. ... Read full article

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

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

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

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. ... Read full article