About the Merger

Merger Frequently Asked Questions

expand +Merger Announcement

OneWest Bank is now a division of CIT Bank, N.A.

We are pleased to announce on August 3, 2015 CIT Bank, the U.S. commercial bank subsidiary of CIT Group Inc., has merged with OneWest Bank and our consumer business has been renamed OneWest Bank, a division of CIT Bank, N.A. As a OneWest Bank customer, you will continue to enjoy access to your accounts and to our products and services.

We understand you may have questions regarding this merger, so we have compiled a list of questions and answers below for your reference. Click on one of the merger categories below to learn more.

expand +What can you tell me about the merger?
This merger combines OneWest Bank’s commercial and retail banking franchise with CIT Bank’s national small business and middle market lending products and services to create a leading provider of retail and commercial banking services.
expand +Who is CIT Group Inc., parent company of CIT Bank, N.A.?
CIT Group Inc. (www.CIT.com) was founded in 1908 and is a publicly traded financial holding company, headquartered in New York City. It provides financing, leasing and advisory services to its clients and their customers in more than 30 industries and maintains leadership positions in middle market lending, factoring, retail and equipment finance, as well as aerospace, equipment and rail leasing.
expand +What is a N.A. (National Association)?
National Association or its abbreviation "N.A." is a legal title for commercial banks that are federally chartered and regulated by the Office of the Comptroller of the Currency (OCC), a department of the U.S. Treasury. These banks are called "national banks." As a national bank, CIT Bank, N.A. is a member of the Federal Reserve System. CIT Bank, N.A. is also an FDIC-insured institution. For more information on the OCC and how national banks including CIT Bank, N.A. are regulated please visit www.occ.gov.

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