CIT Wins Bank-Holding Status

23 Dec 2008

CIT Group has received state approval to convert from a Utah-chartered industrial bank to a bank holding company, thus making it eligible it to receive federal bailout funds.

CIT Group has received state approval to convert from a Utah-chartered industrial bank to a bank holding company, thus making it eligible it to receive federal bailout funds. In a separate announcement, the firm also stated it had entered into a definitive agreement with the Department of ...

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