Private rescue of CIT marks shift in crisis

CIT secures $3 billion financing from bondholders
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...

CIT Group amends debt restructuring offer
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...

CIT Group adopts tax plan, signs deal with NY Fed
CIT Group Inc. and the Federal Reserve announced Thursday an agreement which gives the central bank greater oversight of the troubled commercial lender.

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