CIT Group Bankruptcy

The CIT Group filed for chapter 11, Sunday November 1st, 2009. The CIT Group is one of or possibly the largest finance company providing lending services to the fashion industry. CIT (NYSE: CIT) is a bank holding company with more than $60 billion in finance and leasing assets. For more than 100 years, CIT has provided lending, advisory, and leasing services to small and middle market businesses guided by unparalleled industry expertise and focus. Headquartered in New York City, CIT is a Fortune 500 company. CIT operates CIT Bank, a full service Utah state bank, which is regulated by the Utah Department of Financial Institutions and the FDIC. Operating in more than 50 countries, we have deep expertise across 30 industries. If you utilize CIT or know companies that do, please share your thoughts on this bankruptcy filing. Are you concerned that this will effect your business? Has this issue already effected your business? What are your thoughts, concerns, or suggestions to others?

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