CIT/OneWest Story Thread

CIT Completes Acquisition of OneWest

CIT Group officially completed its acquisition of IMB Holdco, the parent company of OneWest Bank. read more

CIT’s Acquisition of OneWest Bank Approved by Regulators

CIT Group’s $3.4 billion acquisition of OneWest Bank won approval from U.S. regulators after being delayed for almost one year. The merger will result in a combined business called CIT Bank. read more

CIT, OneWest Say Merger Would Benefit Poor Neighborhoods

According to a report that appeared in the Los Angeles Times, the chief executives of CIT and OneWest Bank said the planned merger would be good for poor neighborhoods. read more

Fed, OCC to Hold CIT, OneWest Bank Merger Public Meeting

The Federal Reserve Board and the Office of the Comptroller of the Currency announced a joint public meeting on the proposal for CIT Group to acquire IMB Holdco and its subsidiary, OneWest Bank. read more

Opposition to CIT, OneWest Bank Merger Growing

According to a California Reinvestment Coalition news release, over 15,000 petitions were delivered to the Federal Reserve urging the Fed not to approve the proposed merger of CIT Group and OneWest Bank. read more

OneWest Bank Pushing Back on Hearings in Sale to CIT

Bloomberg reported that OneWest CEO Joseph Otting sent an e-mail to his contacts on Wall Street asking for help to discourage bank overseers from holding public hearings on its takeover by CIT. read more

CIT Said to Benefit from Loss Coverage in OneWest Bank Deal

According to a LA Times report, CIT stands to collect more than $1.4 billion from federal regulators to cover future losses if its purchase of OneWest Bank be approved. read more

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