Cit

By James 2026-05-09 10:09:37

3(1846 votes)

Cit. Under the leadership of CEO , assets at CIT rose 77% from 2004 to the end of 2007 as it acquired companies in education lending and subprime mortgages. On July 15, 2009, CIT's request for loan guarantees was rejected. On November 1, 2009, CIT filed a prepackaged bankruptcy under.

On December 10, 2009, CIT emerged from bankruptcy protection. As part of the reorganization plan, CIT named seven new independent directors. On January 19, 2010, , a member of the , was named interim chief executive officer, replacing Jeff Peek, who resigned effective January 15, 2010.

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