Sources claim CIT Group (CIT) is looking to sell a $1B commercial loan portfolio as part of its...

|About: CIT Group Inc. (CIT)|By:, SA News Editor

Sources claim CIT Group (CIT) is looking to sell a $1B commercial loan portfolio as part of its ongoing restructuring efforts. Since former Merrill chief John Thain became CEO last year, CIT has sold more than $8B in loan and lease assets, divested various non-core operations, and reduced headcount by 19%.