Violation Tracker Parent Company Summary

Parent Company Name: 
CIT
Ownership Structure: 
publicly traded (ticker symbol CIT)
Headquartered in: 
New York
Major Industry: 
financial services
Specific Industry: 
financial services
Penalty total since 2000: 
$239,611,800
Number of records: 
11
Top 5 Offense Groups (Groups Defined)Penalty TotalNumber of Records
consumer-protection-related offenses$145,337,0008
government-contracting-related offenses$89,000,0001
financial offenses$5,200,0001
competition-related offenses$74,8001
Top 5 Primary Offense TypesPenalty TotalNumber of Records
consumer protection violation$138,037,0007
False Claims Act and related$89,000,0001
discriminatory practices (non-employment)$7,300,0001
mortgage abuses$5,200,0001
export control violation$74,8001
Notes: 

Parent-subsidiary linkages are based on relationships current as of the latest revision listed in the Update Log, which may vary from what was the case when a violation occurred. The penalty totals are adjusted to account for the fact that the individual entries below may include both agency records and settlement announcements for the same case; or else a penalty covering multiple locations may be listed in the individual records for each of the facilities. The totals are also adjusted to reflect cases in which federal and state or local agencies cooperated and issued separate announcements of the outcome. Duplicate or overlapping penalty amounts are marked with an asterisk in the list below.

Associated Names: 

CIT; CIT Group, Inc., and CIT Bank, N.A., dba OneWest Bank; CIT Group/Equipment Financing, Inc.; CIT Technology Financing Services, Inc.; Financial Freedom; Student Loan Xpress, Inc.

Links: 

Subsidy Tracker data on financial assistance to this company by federal, state and local government agencies can be found here.


Individual Penalty Records:

Click on the company or penalty amount for more information on each case.
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Company Primary Offense Type Year Agency Penalty Amountsort icon
Student Loan Xpress, Inc. consumer protection violation 2009 MULTI-AG $112,825,000
Financial Freedom False Claims Act and related 2017 DOJ_CIVIL $89,000,000
CIT Group/Equipment Financing, Inc. consumer protection violation 2005 MULTI-AG $10,000,000
CIT Group, Inc., and CIT Bank, N.A., dba OneWest Bank discriminatory practices (non-employment) 2019 HUD $7,300,000
CIT Group Inc. mortgage abuses 2018 FED $5,200,000
CIT Technology Financing Services, Inc. consumer protection violation 2005 NJ-AG $4,360,000
CIT Technology Financing Services, Inc. consumer protection violation 2004 NY-AG $4,200,000
Student Loan Xpress, Inc. consumer protection violation 2010 KY-AG $3,600,000
Student Loan Xpress, Inc. consumer protection violation 2007 NY-AG $3,000,000
CIT Group Inc. export control violation 2005 BIS $74,800
CIT Group consumer protection violation 2009 NE-DBF $52,000
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