CIT Enters into Definitive Agreements for $2.33 Billion Investment by the U.S. Treasury (Business Wire)
NEW YORK—-CIT Group Inc. , a commercial bank holding company, today announced that it has entered into definitive agreements with the U.S. Department of the Treasury to sell $2.33 billion in CITâ??s perpetual preferred stock and related warrants to the Treasury as a participant in the federal governmentâ??s Capital Purchase Program, part of the Troubled Assets Relief Program established under the Emergency Economic Stabilization Act of 2008.
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