Word: cit
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Dates: during 2010-2019
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...with many small banks' capital constraints - money they would lend is still tied up in those real estate loans. Just as important, though, other places business owners have looked to for funding in recent years, like home-equity loans and credit lines from nonbank finance companies like CIT, aren't likely to bounce back to their former glory anytime soon...
...Monday, John Thain, who was Merrill's chief executive when the firm sold to BofA, got the top job at troubled lender CIT. Thain said he was interested in the opportunity to revitalize the small-business lender. "CIT can and will serve an important role in the recovery of the U.S. economy and the creation of jobs," Thain told reporters...