CIT Group controversies
Controversies tied to this brand in public sources. A listing is not a finding of fault.
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2009
Bankruptcy and federal-support controversy
CIT's exposure to weakened lending businesses and difficulty obtaining additional federal guarantees culminated in a prepackaged Chapter 11 filing. The company had already become a bank holding company and received TARP funding, making its failure and restructuring part of the broader financial-crisis debate.