cit group

The U.S. Treasury has lost its entire $2.33 billion TARP investment in CIT Group, according to a filing with the SEC.

In this Sept. 15, 2008 file photo, former Merrill Lynch executive John Thain speaks during a news conference in New York.

CIT Group Inc. on Tuesday said its chief financial officer is retiring, and added it is closer to filling out its new board.

Lender CIT Group has filed for Chapter 11 bankruptcy protection, in an effort to restructure its debt while trying to keep loans flowing to the thousands of mid-sized and small businesses.

After struggling for months to avert bankruptcy, lender CIT Group has filed for Chapter 11 protection in an attempt to restructure its debt while trying to keep badly needed loans flowing to thousands of mid-sized and small businesses.

Lender CIT Group has filed for Chapter 11 bankruptcy protection, a potential blow to the thousands of small and mid-sized businesses that rely on the company for loans.

Lender CIT Group has filed for Chapter 11 bankruptcy protection, a potential blow to the thousands of small and mid-sized businesses that rely on the company for loans to keep their operations afloat.

Billionaire investor Carl Icahn said on Tuesday he will offer to smaller holders of CIT Group's debt short-term protection against the value of the debt declining, if investors back his alternative restructuring of the beleaguered lender.

Struggling lender CIT Group Inc. warned Monday that it might still have to file for bankruptcy protection even if it completes a revised debt restructuring plan.

CIT Group Inc., one of the nation's biggest lenders to small and midsize businesses, says it has amended its debt restructuring offer in hopes of enlisting more support from bondholders for the plan.