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Archive Home > 2009 > August > 14 > CIT Group, New York Fed reach agreement

CIT Group, New York Fed reach agreement


August 14, 2009

NEW YORK " CIT Group Inc. and the Federal Reserve announced Thursday an agreement which gives the central bank greater oversight of the troubled commercial lender.

The agreement calls for CIT to report to the Federal Reserve Bank of New York by Aug. 28 its plans for maintaining sufficient....

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