commercial lender

Struggling commercial lender CIT Group says it lost $1.68 billion in the second quarter.

CIT Group Inc. and the Federal Reserve announced Thursday an agreement which gives the central bank greater oversight of the troubled commercial lender.

Shares of CIT Group Inc. plummeted nearly 20 percent in premarket trading Tuesday, as the commercial lender delayed filing its quarterly report because of ongoing restructuring efforts as it tries to avoid bankruptcy, according to a regulatory filing.

Commercial lender CIT Group Inc. confirmed late Monday that it has secured a $3 billion bailout from its bondholders, averting an immediate bankruptcy filing and giving the company some breathing room to restructure its debt.

With bondholders coming to the rescue of troubled commercial lender CIT Group Inc., and not the government, a new reality is setting in for investors.

Oil prices fell Monday even as encouraging quarterly company earnings reports and word that CIT Group Inc. bondholders would keep the commercial lender out of bankruptcy raised hopes about an economic recovery.

Commercial lender CIT Group's board is due to meet Sunday night to discuss options to allow the company to avoid bankruptcy, according to a person briefed on the talks.

CIT Group Inc.’s inability to get emergency government funding raises expectations that the commercial lender will file for bankruptcy.

Struggling commercial lender CIT Group Inc. says the government will not give it another bailout.

The troubled commercial lender is talking with the government about a possible bailout to avoid bankruptcy.