CIT Group (CIT)

CIT Group reached a tentative agreement with Goldman Sachs over a disputed payment on a $3 billion loan.
An agreement over the $1 billion "make whole" payment could be made final within 24 hours. Goldman would be entitled to the $1 billion payment under the $3 billion rescue package it provided in June 2008, six months before the U.S. government invested $2.33 billion in CIT through the Troubled Asset Relief Program. CIT had no immediate comment. Goldman did not immediately return calls seeking comment.

Oct 23 · 3:14:00 PM · Source: Reuters · Related: Goldman Sachs Group Inc
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by Michael Oliveto