CIT Group Inc. (NYSE:CIT) announced the launch of its online FDIC-insured consumer bank, CIT Bank (BankOnCIT.com). "The launch of CIT Bank online is another important step in our efforts to diversify our funding sources into stable, low-cost deposit products," said John A. Thain, Chairman and Chief Executive Officer. "The online bank will help us meet the financing needs of our small business and middle market clients. The CIT Bank platform will allow us to expand our client base as we offer additional retail and commercial deposit products in the future."

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