Cit (CIT) 10-Q 5 Aug 15 2015 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Jun. 30, 2015	Jul. 31, 2015
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q2
Entity Registrant Name	CIT GROUP INC
Entity Central Index Key	1,171,825
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		171,029,594

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions		Jun. 30, 2015	Dec. 31, 2014
Assets
Cash and due from banks, including restricted balances of $584.4 and $374.0 at June 30, 2015 and December 31, 2014(1), respectively	[1]	$ 1,240.5	$ 878.5
Interest bearing deposits, including restricted balances of $212.3 and $590.2 at June 30, 2015 and December 31, 2014(1), respectively	[1]	4,224.8	6,241.2
Securities purchased under agreements to resell		750	650
Investment securities		1,692.9	1,550.3
Assets held for sale	[1]	1,086.8	1,218.1
Loans (see Note 7 for amounts pledged)		19,649.3	19,495
Allowance for loan losses		(350.9)	(346.4)
Total loans, net of allowance for loan losses	[1]	19,298.4	19,148.6
Operating lease equipment, net (see Note 7 for amounts pledged)	[1]	15,109.6	14,930.4
Unsecured counterparty receivable		538.2	559.2
Goodwill		565.9	571.3
Other assets, including $101.5 and $168.0 at June 30, 2015 and December 31, 2014 (1), respectively, at fair value	[1]	2,150.1	2,132.4
Total Assets	[1]	46,657.2	47,880
Liabilities
Deposits		17,267.8	15,849.8
Credit balances of factoring clients		1,373.3	1,622.1
Other liabilities, including $88.1 and $62.3 at June 30, 2015 and December 31, 2014, respectively, at fair value		2,766.9	2,888.8
Long-term borrowings, including $1,811.8 and $3,053.3 contractually due within twelve months at June 30, 2015 and December 31, 2014, respectively	[2]	16,441.6	18,455.8
Total Liabilities		37,849.6	38,816.5
Stockholders' Equity
Common stock: $0.01 par value, 600,000,000 authorized; Issued: 204,323,640 and 203,127,291 at June 30, 2015 and December 31, 2014, respectively; Outstanding: 172,998,363 and 180,920,575 at June 30, 2015 and December 31, 2014, respectively		2	2
Paid-in capital		8,615.6	8,603.6
Retained earnings		1,781.1	1,615.7
Accumulated other comprehensive loss		(158.8)	(133.9)
Treasury stock: 31,325,277 and 22,206,716 shares at June 30, 2015 and December 31, 2014, respectively, at cost		(1,432.8)	(1,018.5)
Total Common Stockholders' Equity		8,807.1	9,068.9
Noncontrolling minority interests		0.5	(5.4)
Total Equity		8,807.6	9,063.5
Total Liabilities and Equity		46,657.2	47,880
Variable Interest Entities [Member]
Assets
Cash and due from banks, including restricted balances of $584.4 and $374.0 at June 30, 2015 and December 31, 2014(1), respectively		353.8	537.3
Assets held for sale		122.5
Loans (see Note 7 for amounts pledged)		3,048.6	3,619.2
Operating lease equipment, net (see Note 7 for amounts pledged)		4,194.1	4,219.7
Other assets, including $101.5 and $168.0 at June 30, 2015 and December 31, 2014 (1), respectively, at fair value		5.9	10
Total Assets		7,724.9	8,386.2
Liabilities
Beneficial interests issued by consolidated VIEs (classified as long-term borrowings)		4,724.1	5,331.5
Total Liabilities		$ 4,724.1	$ 5,331.5
[1]	The following table presents information on assets and liabilities related to Variable Interest Entities (VIEs) that are consolidated by the Company. The difference between VIE total assets and total liabilities represents the Company's interests in those entities, which were eliminated in consolidation. The assets of the consolidated VIEs will be used to settle the liabilities of those entities and, except for the Company's interest in the VIEs, are not available to the creditors of CIT or any affiliates of CIT.
[2]	Senior Unsecured Notes at June 30, 2015 were comprised of $8,243.8 million of Unsecured Notes, $2,450.0 million of Series C Notes and $39.0 million of other unsecured debt.

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Jun. 30, 2015	Dec. 31, 2014
Consolidated Balance Sheets [Abstract]
Restricted cash and due from banks	$ 584.4	$ 374
Interest bearing deposits, restricted balances	212.3	590.2
Other assets at fair value	101.5	168
Other liabilities at fair value	88.1	62.3
Long-term borrowings, contractually due within twelve months	$ 1,811.8	$ 3,053.3
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	600,000,000	600,000,000
Common stock, shares issued	204,323,640	203,127,291
Common stock, shares outstanding	172,998,363	180,920,575
Treasury stock, shares at cost	31,325,277	22,206,716

Consolidated Statements Of Oper

Consolidated Statements Of Operations - USD ($) shares in Thousands, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Interest income
Interest and fees on loans	$ 274.8	$ 301.4	$ 547.2	$ 594.8
Interest and dividends on interest bearing deposits and investments	9	8.4	17.6	17.2
Interest income	283.8	309.8	564.8	612
Interest expense
Interest on long-term borrowings	(193)	(206.1)	(395.3)	(426.1)
Interest on deposits	(72.2)	(56.1)	(141.2)	(108)
Interest expense	(265.2)	(262.2)	(536.5)	(534.1)
Net interest revenue	18.6	47.6	28.3	77.9
Provision for credit losses	(18.4)	(10.2)	(53)	(46.9)
Net interest revenue, after credit provision	0.2	37.4	(24.7)	31
Non-interest income
Rental income on operating leases	531.7	519.6	1,062.3	1,011.5
Other income	63.5	93.7	149.9	164.8
Total non-interest income	595.2	613.3	1,212.2	1,176.3
Total revenue, net of interest expense and credit provision	595.4	650.7	1,187.5	1,207.3
Other expenses
Depreciation on operating lease equipment	(157.8)	(157.3)	(314.6)	(306.1)
Maintenance and other operating lease expenses	(49.4)	(49)	(95.5)	(100.6)
Operating expenses	(235)	(225)	(476.6)	(458.5)
Loss on debt extinguishment	(0.1)	(0.4)	(0.1)	(0.4)
Total other expenses	(442.3)	(431.7)	(886.8)	(865.6)
Income from continuing operations before provision for income taxes	153.1	219	300.7	341.7
Provision for income taxes	(37.8)	(18.1)	(81.8)	(31.6)
Income from continuing operations, before attribution of noncontrolling interests	115.3	200.9	218.9	310.1
Net (income) loss attributable to noncontrolling interests, after tax		(5.7)	0.1
Income from continuing operations	115.3	195.2	219	310.1
Income from discontinued operation, net of taxes		(231.1)		(228.8)
Gain on sale of discontinued operation		282.8		282.8
Income from discontinued operation, net of taxes		51.7		54
Net (loss) income	$ 115.3	$ 246.9	$ 219	$ 364.1
Basic income per common share: Income from continuing operations	$ 0.66	$ 1.03	$ 1.25	$ 1.61
Basic income per common share: Income from discontinued operation		0.27		0.28
Basic income per share	0.66	1.30	1.25	1.89
Diluted income per common share: Income from continuing operations	0.66	1.02	1.24	1.60
Diluted income per common share: Income from discontinued operation		0.27		0.28
Diluted income per share	$ 0.66	$ 1.29	$ 1.24	$ 1.88
Average number of common shares - basic	173,785	190,231	175,019	193,134
Average number of common shares - diluted	174,876	191,077	175,971	194,036
Dividends declared per common share	$ 0.15	$ 0.10	$ 0.30	$ 0.20

Consolidated Statements Of Comp

Consolidated Statements Of Comprehensive Income (Loss) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Consolidated Statements Of Comprehensive Income (Loss) [Abstract]
Income from continuing operations, before attribution of noncontrolling interests	$ 115.3	$ 200.9	$ 218.9	$ 310.1
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments	3.7	(3)	(24.7)	(7.3)
Changes in fair values of derivatives qualifying as cash flow hedges		(0.1)		(0.1)
Net unrealized gains (losses) on available for sale securities	0.5	0.1	0.1	0.3
Changes in benefit plans net gain (loss) and prior service (cost)/credit	0.1	1.6	(0.3)	3.2
Other comprehensive income (loss), net of tax	4.3	(1.4)	(24.9)	(3.9)
Comprehensive income before noncontrolling interests and discontinued operation	119.6	199.5	194	306.2
Comprehensive (income) attributable to noncontrolling interests		(5.7)	0.1
Income from discontinued operation, net of taxes		51.7		54
Comprehensive income	$ 119.6	$ 245.5	$ 194.1	$ 360.2

Consolidated Statements Of Stoc

Consolidated Statements Of Stockholders' Equity - USD ($) $ in Millions	Common Stock [Member]	Paid-In Capital [Member]	Retained Earnings (Accumulated Deficit) [Member]	Accumulated Other Comprehensive Loss [Member]	Treasury Stock [Member]	Noncontrolling Minority Interest [Member]	Total
Beginning balance at Dec. 31, 2013	$ 2	$ 8,555.4	$ 581	$ (73.6)	$ (226)	$ 11.2	$ 8,850
Net income (loss)							310.1
Net income			364.1			0	364.1
Other comprehensive income (loss), net of tax				(3.9)			(3.9)
Dividends paid			(39.3)				(39.3)
Amortization of restricted stock, stock option and performance shares expenses and shares withheld to cover taxes upon vesting		25.9			(16.6)		9.3
Repurchase of common stock					(552.1)		(552.1)
Employee stock purchase plan		0.7					0.7
Distribution of earnings and capital						0.5	0.5
Ending balance at Jun. 30, 2014	2	8,582	905.8	(77.5)	(794.7)	11.7	8,629.3
Beginning balance at Dec. 31, 2014	2	8,603.6	1,615.7	(133.9)	(1,018.5)	(5.4)	9,063.5
Net income (loss)			219			(0.1)	218.9
Net income							219
Other comprehensive income (loss), net of tax				(24.9)			(24.9)
Dividends paid			(53.6)				(53.6)
Amortization of restricted stock, stock option and performance shares expenses and shares withheld to cover taxes upon vesting		37.5			(21.6)		15.9
Repurchase of common stock					(392.7)		(392.7)
Employee stock purchase plan		1					1
Purchase of noncontrolling interest and distribution of earnings and capital		(26.5)				6	(20.5)
Ending balance at Jun. 30, 2015	$ 2	$ 8,615.6	$ 1,781.1	$ (158.8)	$ (1,432.8)	$ 0.5	$ 8,807.6

Consolidated Statements Of Cash

Consolidated Statements Of Cash Flows - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Cash Flows From Operations
Net income	$ 219	$ 364.1
Adjustments to reconcile net income to net cash flows from operations:
Provision for credit losses	53	46.9
Net depreciation, amortization and (accretion)	334.2	586.3
Net gains on equipment, receivable and investment sales	(45.6)	(308.7)
Provision for deferred income taxes	53	5.6
Increase in finance receivables held for sale	(134.8)	(64.5)
Decrease in other assets	30.9	148.1
(Decrease) increase in accrued liabilities and payables	(79.6)	27.9
Net cash flows provided by operations	430.1	805.7
Cash Flows From Investing Activities
Loans originated and purchased	(6,582.5)	(7,839.8)
Principal collections of loans	5,769.5	6,627.2
Purchases of investment securities	(5,071.4)	(7,188.8)
Proceeds from maturities of investment securities	4,835.9	9,007.5
Proceeds from asset and receivable sales	791.6	2,120.5
Purchases of assets to be leased and other equipment	(888.3)	(1,725.7)
Net decrease (increase) in short-term factoring receivables	91.7	(15.8)
Acquisitions, net of cash received		(245.5)
Change in restricted cash	167.4	255.5
Net cash flows (used in) provided by investing activities	(886.1)	995.1
Cash Flows From Financing Activities
Proceeds from the issuance of term debt	1,020.9	1,356.4
Repayments of term debt	(3,012.3)	(3,475)
Net increase in deposits	1,418	1,412.8
Collection of security deposits and maintenance funds	316	261.3
Use of security deposits and maintenance funds	(306.7)	(221)
Repurchase of common stock	(392.7)	(552.1)
Dividends paid	(53.6)	(39.3)
Purchase of noncontrolling interest	(20.5)
Net cash flows (used in) financing activities	(1,030.9)	(1,256.9)
(Decrease) increase in unrestricted cash and cash equivalents	(1,486.9)	543.9
Unrestricted cash and cash equivalents, beginning of period	6,155.5	5,081.1
Unrestricted cash and cash equivalents, end of period	4,668.6	5,625
Supplementary Cash Flow Disclosure
Interest paid	(538.3)	(524.7)
Federal, foreign, state and local income taxes paid, net	(17.7)	(16.3)
Supplementary Non Cash Flow Disclosure
Transfer of assets from held for investment to held for sale	376.9	1,213.9
Transfer of assets from held for sale to held for investment	$ 43.5	$ 31

Business And Summary Of Signifi

Business And Summary Of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2015
Business And Summary Of Significant Accounting Policies [Abstract]
Business And Summary Of Significant Accounting Policies	NOTE 1 — BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES CIT Group Inc. , together with its subsidiaries (collectively “CIT” or the “Company”), has provided financial solutions to its clients since its formation in 1908. The Company provides f inancing , leasing and advisory services principally to middle market companies in a wide variety of industries primarily in North America, and equipment financing and leasing solutions to the transportation industry worldwide. CIT became a bank holding company (“BHC”) in December 2008 and a financial holding company (“FHC”) in July 2013. CIT is regulated by the Board of Governors of the Federal Reserve System (“FRB”) and the Federal Reserve Bank of New York (“FRBNY”) under the U.S. Bank Holding Company Act of 1956. CIT Bank (the “Bank”) , a wholly-owned subsidiary, is a Utah state chartered bank located in Salt Lake City, and is regulated by the Federal Deposit Insurance Corporation (“FDIC”) and the Utah Department of Financial Institutions (“UDFI”). The Company operates primarily in North America, with locations in Europe and Asia. On August 3, 2015, CIT acquired IMB Holdco LLC, the parent company of OneWest Bank, N.A. (“OneWest Bank”). See Note 16 – Subsequent Events for further information BASIS OF PRESENTATION Principles of Consolidation The accompanying consolidated financial statements include financial information related to CIT Group Inc. and its majority-owned subsidiaries and those variable interest entities (“VIEs”) where the Company is the primary beneficiary. In preparing the consolidated financial statements, all significant inter-company accounts and transactions have been eliminated. Assets held in an agency or fiduciary capacity are not included in the consolidated financial statements. These consolidated financial statements have been prepared in accordance with the instructions to Form 10-Q for interim financial information and accordingly, do not include all information and note disclosures required by generally accepted accounting principles in the United States of America (“GAAP”) for complete financial statements. The financial statements in this Form 10-Q in the opinion of management include all adjustments, consisting only of normal recurring adjustments, necessary for a fair presentation of CIT’s financial position, results of operations and cash flows in accordance with GAAP. These consolidated financial statements should be read in conjunction with our current Form 10-K on file. The accounting and financial reporting policies of CIT Group Inc. conform to GAAP and the preparation of the consolidated financial statements requires management to make estimates and assumptions that affect reported amounts and disclosures. Actual results could differ from those estimates and assumptions. Some of the more significant estimates include: allowance for loan losses, loan impairment, fair value determination, lease residual values, liabilities for uncertain tax positions, realizability of deferred tax assets and goodwill assets. Additionally where applicable, the policies conform to accounting and reporting guidelines prescribed by bank regulatory authorities. Discontinued Operation On April 25, 2014, the Company completed the sale of its student lending business. As a result, the student lending business is reported as a discontinued operation for all periods. The business had been included in the Non-Strategic Portfolios segment and consisted of a portfolio of U.S. Government-guaranteed student loans. The portfolio was in run-off and had been transferred to assets held for sale (“AHFS”) at the end of 2013. See Note 2 – Discontinued Operation . Revision In preparing the financial statements for the quarter ended March 31, 2015, the Company discovered and corrected an immaterial error impacting the disclosure of unearned income in the amount of approximately $170 million as of December 31, 2014. NEW ACCOUNTING PRONOUNCEMENTS Customer’s Accounting for Fees Paid in a Cloud Computing Arrangement The FASB issued an amendment to U.S. GAAP on April 15, 2015, to explain how businesses and other organizations should account for the fees for purchasing cloud computing services. The changes in Accounting Standards Update (“ASU”) No. 2015-05, Intangibles: Goodwill and Other: Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Fees Paid in a Cloud Computing Arrangement , add to the guidance for intangible assets to help businesses and other organizations determine whether a cloud computing agreement includes a software license or should be considered as a service agreement. The amendments to FASB ASC 350-40, Intangibles: Goodwill and Other: Internal-Use Software: Scope and Scope Exceptions, formerly AICPA Statement of Position (“SOP”) No. 98-1, state that the portion of a cloud computing agreement that includes a software license should be accounted for in a manner that is consistent with other software licenses. An arrangement that does not include a software license should be accounted for as a service contract. Public companies have to apply the amendment for fiscal years that start after December 15, 2015. Companies will have to apply the changes in their first-quarter reports for 2016, but can elect to early adopt ahead of the effective date. CIT is currently evaluating the impact of adopting this amendment . Debt Issuance Costs On April 7, 2015, the FASB issued ASU 2015-03, Simplifying the Presentation of Debt Issuance Costs , which requires debt issuance costs to be presented in the balance sheet as a direct deduction from the carrying value of the associated debt liability, consistent with the presentation of a debt discount. Debt issuance costs are specific incremental costs, other than those paid to the lender, that are directly attributable to issuing a debt instrument (i.e., third party costs). Prior to the issuance of the standard, debt issuance costs were required to be presented in the balance sheet as a deferred charge (i.e., an asset). For public business entities, the standard is effective for financial statements issued for fiscal years beginning after December 15, 2015, and interim periods within those fiscal years. The new guidance will be applied on a retrospective basis. The adoption of this guidance is not expected to have a significant impact on CIT’s financial statements or disclosures. Amendments to the Consolidation Analysis The FASB issued ASU 2015-02, Amendments to the Consolidation Analysis , in February 2015 to improve targeted areas of the consolidation standard and reduce the number of consolidation models. The new guidance changes the way reporting enterprises evaluate whether (a) they should consolidate limited partnerships and similar entities, (b) fees paid to a decision maker or service provider are variable interests in a variable interest entity (“VIE”), and (c) variable interests in a VIE held by related parties of the reporting enterprise require the reporting enterprise to consolidate the VIE. It also eliminates the VIE consolidation model based on majority exposure to variability that applied to certain investment companies and similar entities. The Board changed the way the voting rights characteristic in the VIE scope determination is evaluated for corporations, which may significantly impact entities for which decision making rights are conveyed though a contractual arrangement. Under ASU 2015-02: · More limited partnerships and similar entities will be evaluated for consolidation under the revised consolidation requirements that apply to VIEs. · Fees paid to a decision maker or service provider are less likely to be considered a variable interest in a VIE. · Variable interests in a VIE held by related parties of a reporting enterprise are less likely to require the reporting enterprise to consolidate the VIE. · There is a new approach for determining whether equity at-risk holders of entities that are not similar to limited partnerships have power to direct the entity’s key activities when the entity has an outsourced manager whose fee is a variable interest. · The deferral of consolidation requirements for certain investment companies and similar entities of the VIE in ASU 2009-17 is eliminated. The anticipated impacts of the new update include: · A new consolidation analysis is required for VIEs, including many limited partnerships and similar entities that previously were not considered VIEs. · It is less likely that the general partner or managing member of limited partnerships and similar entities will be required to consolidate the entity when the other investors in the entity lack both participating rights and kick-out rights. · Limited partnerships and similar entities that are not VIEs will not be consolidated by the general partner. · It is less likely that decision makers or service providers involved with a VIE will be required to consolidate the VIE. · Entities for which decision making rights are conveyed through a contractual arrangement are less likely to be considered VIEs. · Reporting enterprises with interests in certain investment companies and similar entities that are considered VIEs will no longer evaluate those entities for consolidation based on majority exposure to variability. The guidance is effective for public business entities for annual and interim periods in fiscal years beginning after December 15, 2015 (i.e. January 1, 2016). Early adoption is allowed, including early adoption in an interim period. A reporting enterprise is permitted to apply either a modified retrospective approach or full retrospective application. CIT is currently evaluating the impact of adopting this ASU. Extraordinary and Unusual Items The FASB issued ASU No. 2015-01, Extraordinary and Unusual Items , in January 2015 as part of FASB’s simplification initiative, which eliminates the concept of extraordinary item and the need for entities to evaluate whether transactions or events are both unusual in nature and infrequently occurring. The ASU precludes (1) segregating an extraordinary item from the results of ordinary operations; (2) presenting separately an extraordinary item on the income statement, net of tax, after income from continuing operations; and (3) disclosing income taxes and earnings-per-share data applicable to an extraordinary item. However, the ASU does not affect the reporting and disclosure requirements for an event or transaction that is unusual in nature or that occurs infrequently. So, although the Company will no longer need to determine whether a transaction or event is both unusual in nature and infrequently occurring, CIT will still need to assess whether items are unusual in nature or infrequent to determine if the additional presentation and disclosure requirements for these items apply. For all entities, ASU 2015-01 is effective for annual periods beginning after December 15, 2015 and interim periods within those annual periods. Adoption of this guidance is not expected to have a significant impact on CIT’s financial statements or disclosures. Revenue Recognition The FASB issued ASU No. 2014-09 - Revenue from Contracts with Customers , in June 2014 which will supersede virtually all of the revenue recognition guidance in GAAP, except as it relates to lease accounting. The core principle of the five-step model is that a company will recognize revenue when it transfers control of goods or services to customers at an amount that reflects the consideration to which it expects to be entitled in exchange for those goods or services. In doing so, many companies will have to make more estimates and use more judgment than they do under current GAAP. The five-step analysis of transactions, to determine when and how revenue is recognized, includes: 1. Identify the contract with the customer. 2. Identify the performance obligations in the contract. 3. Determine the transaction price. 4. Allocate the transaction price to the performance obligations. 5. Recognize revenue when or as each performance obligation is satisfied. Companies can choose to apply the standard using either the full retrospective approach or a modified retrospective approach. Under the modified approach, financial statements will be prepared for the year of adoption using the new standard, but prior periods will not be adjusted. Instead, companies will recognize a cumulative catch-up adjustment to the opening balance of retained earnings at the effective date for contracts that still require performance by the company and disclose all line items in the year of adoption as if they were prepared under today’s revenue guidance. In July 2015, t he FASB voted to defer the effective date one year for annual reporting periods beginning after December 15, 201 7, including interim reporting periods within that reporting period. Public companies that choose full retrospective application will need to apply the standard to amounts they report for 201 6 and 201 7 on the face of their full year 201 8 financial statements. CIT is required to adopt the ASU and is currently reviewing the impact of adoption and has not determined the effect of the standard on its ongoing financial reporting. Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period The FASB issued ASU No. 2014-12, Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period , in June 2014. The ASU directs that a performance target that affects vesting and can be achieved after the requisite service period is a performance condition. That is, compensation cost would be recognized over the required service period if it is probable that the performance condition would be achieved. The total amount of compensation cost recognized during and after the requisite service period would reflect the number of awards that are expected to vest and would be adjusted to reflect those awards that ultimately vest. The ASU does not require additional disclosures. Entities may apply the amendments in this update either (a) prospectively to all awards granted or modified after the effective date or (b) retrospectively to all awards with performance targets that are outstanding as of the beginning of the earliest annual period presented in the financial statements and to all new or modified awards thereafter. If retrospective transition is adopted, the cumulative effect of applying this ASU as of the beginning of the earliest annual period presented in the financial statements should be recognized as an adjustment to the opening retained earnings balance at that date. Additionally, if retrospective transition is adopted, an entity may use hindsight in measuring and recognizing the compensation cost. The ASU is effective for annual periods beginning after December 15, 2015 and interim periods within those years. Early adoption is permitted. CIT is currently evaluating the impact of adopting this ASU and is reviewing existing awards for applicability. Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern The FASB issued ASU 2014-15, Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern, in August 2014. This ASU describes how entities should assess their ability to meet their obligations and sets disclosure requirements about how this information should be communicated. The standard will be used along with existing auditing standards, and provides the following key guidance: 1. Entities must perform a going concern assessment by evaluating their ability to meet their obligations for a look-forward period of one year from the financial statement issuance date (or date the financial statements are available to be issued). 2. Disclosures are required if it is probable an entity will be unable to meet its obligations within the look-forward period. Incremental substantial doubt disclosure is required if the probability is not mitigated by management’s plans. 3. Pursuant to the ASU, substantial doubt about an entity’s ability to continue as a going concern exists if it is probable that the entity will be unable to meet its obligations as they become due within one year after the date the annual or interim financial statements are issued or available to be issued (assessment date). The new standard applies to all entities for the first annual period ending after December 15, 2016. Company management is responsible for assessing going concern uncertainties at each annual and interim reporting period thereafter. The adoption of this guidance is not expected to have a significant impact on CIT’s financial statements or disclosures.

Discontinued Operation

Discontinued Operation	6 Months Ended
	Jun. 30, 2015
Discontinued Operation [Abstract]
Discontinued Operation	NOTE 2 – DISCONTINUED OPERATION Student Lending Business Disposition On April 25, 2014 , the Company completed the sale of its student lending business along with certain secured debt and servicing rights. As a result, the student lending business was reported as a discontinued operation for 2014. The operating results are presented separately in the Company’s Consolidated Financial Statements. There were no assets or liabilities related to the discontinued operation at June 30, 2015 or December 31, 2014, and no impact on the Statement of Operations in 2015. Interest expense allocated to the discontinued operation correspond ed to debt of approximately $3.2 billion, net of $224 million of Fresh Start Accounting (“FSA”) discount. Salaries and general operating expenses included in discontinued operation consist ed of direct expenses of the student lending business that were separate from ongoing CIT operations and did not continue subsequent to disposal. Summarized financial information for the discontinued business is shown below. Operating Results of Discontinued Operation (dollars in millions) Quarter Ended June 30, 2014 Six Months Ended June 30, 2014 Interest income $ 5.8 $ 27.0 Interest expense Other income Operating expenses Income from discontinued operation before provision for income taxes Provision for income taxes Income from discontinued operation, net of taxes Gain on sale of discontinued operation Income from discontinued operation, net of taxes $ 51.7 $ 54.0

Loans

Loans	6 Months Ended
	Jun. 30, 2015
Loans [Abstract]
Loans	NOTE 3 — LOANS Finance receivables consist of the following: Finance Receivables by Product (dollars in millions) June 30, December 31, 2015 2014 Loans $ 14,508.9 $ 14,398.2 Direct financing leases and leveraged leases Finance receivables Finance receivables held for sale Finance receivables and held for sale receivables (1) $ 20,448.2 $ 20,274.9 (1) Assets held for sale on the Balance Sheet includes finance receivables and operating lease equipment. As discussed in subsequent tables, since the Company manages the credit risk and collections of finance receivables held for sale consistently with its finance receivables held for investment, the aggregate amount is presented in this table. The following table presents finance receivables by segment, based on obligor location: Finance Receivables (dollars in millions) June 30, 2015 December 31, 2014 Domestic Foreign Total Domestic Foreign Total Transportation & International Finance $ 769.6 $ 2,947.5 $ 3,717.1 $ 812.6 $ 2,746.3 $ 3,558.9 North American Commercial Finance Non-Strategic Portfolios - - - - Total $ 15,529.8 $ 4,119.5 $ 19,649.3 $ 15,457.7 $ 4,037.3 $ 19,495.0 The following table presents selected components of the net investment in finance receivables: Components of Net Investment in Finance Receivables (dollars in millions) June 30, December 31, 2015 2014 Unearned income $ (1,056.0) $ (1,037.8) Unamortized premiums/(discounts) Net unamortized deferred costs and (fees) Certain of the following tables present credit-related information at the “class” level in accordance with ASC 310-10-50, Disclosures about the Credit Quality of Finance Receivables and the Allowance for Credit Losses . A class is generally a disaggregation of a portfolio segment. In determining the classes, CIT considered the finance receivable characteristics and methods it applies in monitoring and assessing credit risk and performance. Credit Quality Information The following table summarizes finance receivables by the risk ratings that bank regulatory agencies utilize to classify credit exposure and which are consistent with indicators the Company monitors. Customer risk ratings are reviewed on a regular basis by Credit Risk Management and are adjusted as necessary for updated information affecting the borrowers’ ability to fulfill their obligations. The definitions of these ratings are as follows: Pass – finance receivables in this category do not meet the criteria for classification in one of the categories below. Special mention – a special mention asset exhibits potential weaknesses that deserve management’s close attention. If left uncorrected, these potential weaknesses may, at some future date, result in the deterioration of the repayment prospects. Classified – a classified asset ranges from: (1) assets that exhibit a well-defined weakness and are inadequately protected by the current sound worth and paying capacity of the borrower, and are characterized by the distinct possibility that some loss will be sustained if the deficiencies are not corrected to (2) assets with weaknesses that make collection or liquidation in full unlikely on the basis of current facts, conditions, and values. Assets in this classification can be accruing or on non-accrual depending on the evaluation of these factors. Finance and Held for Sale Receivables — by Risk Rating (dollars in millions) Transportation & International Finance North American Commercial Finance Grade: Transportation Finance International Finance Corporate Finance Equipment Finance Real Estate Finance Commercial Services Subtotal Non-Strategic Portfolios Total June 30, 2015 Pass $ 2,923.5 $ 784.7 $ 6,127.8 $ 4,284.9 $ 1,897.9 $ 1,809.4 $ 17,828.2 $ 204.8 $ 18,033.0 Special mention Classified - accruing - Classified - non-accrual - - Total $ 3,195.1 $ 976.5 $ 7,066.5 $ 4,810.8 $ 1,941.4 $ 2,201.8 $ 20,192.1 $ 256.1 $ 20,448.2 December 31, 2014 Pass $ 2,895.9 $ 820.2 $ 6,199.0 $ 4,129.1 $ 1,692.0 $ 2,084.1 $ 17,820.3 $ 288.7 $ 18,109.0 Special mention Classified - accruing - Classified - non-accrual - - Total $ 2,952.9 $ 1,023.2 $ 6,912.7 $ 4,717.3 $ 1,768.6 $ 2,560.2 $ 19,934.9 $ 340.0 $ 20,274.9 Past Due and Non-accrual Loans The table that follows presents portfolio delinquency status, regardless of accrual/non-accrual classification: Finance and Held for Sale Receivables — Delinquency Status (dollars in millions) Total Past 30–59 Days 60–89 Days 90 Days or Due 30 Days or Total Finance Past Due Past Due Greater Greater Current Receivables June 30, 2015 Transportation Finance $ 3.6 $ 2.7 $ 7.9 $ 14.2 $ 3,180.9 $ 3,195.1 International Finance Corporate Finance - - Equipment Finance Real Estate Finance - - - - Commercial Services Sub-total Non-Strategic Portfolios Total $ 143.7 $ 57.8 $ 93.6 $ 295.1 $ 20,153.1 $ 20,448.2 December 31, 2014 Transportation Finance $ 5.2 $ 1.9 $ 4.3 $ 11.4 $ 2,941.5 $ 2,952.9 International Finance Corporate Finance - Equipment Finance Real Estate Finance - - - - Commercial Services Sub-total Non-Strategic Portfolios Total $ 225.8 $ 52.0 $ 51.8 $ 329.6 $ 19,945.3 $ 20,274.9 The following table sets forth non-accrual loans and assets received in satisfaction of loans (repossessed assets). Non-accrual loans include loans that are individually evaluated and determined to be impaired (generally loans with balances greater than $ 500,000) , as well as other, smaller balance loans placed on non-accrual due to delinquency (generally 90 days or more). Finance Receivables on Non- A ccrual Status (dollars in millions) June 30, 2015 December 31, 2014 Held for Investment Held for Sale Total Held for Investment Held for Sale Total Transportation Finance - $ 0.1 $ - $ 0.1 International Finance Corporate Finance - Equipment Finance - Sub-total Non-Strategic Portfolios - - Total $ 123.4 $ 37.1 $ 160.5 Repossessed assets Total non-performing assets $ 161.3 Total Accruing loans past due 90 days or more $ 10.3 Payments received on non-accrual financing receivables are generally applied first against outstanding principal, though in certain instances where the remaining recorded investment is deemed fully collectible, interest income is recognized on a cash basis. Impaired Loans The Company’s policy is to review for impairment finance receivables greater than $500,000 that are on non-accrual status. S mall-ticket loan and lease receivables that have not been modified in a troubled debt restructuring, as well as short-term factoring receivables, are included (if appropriate) in the reported non-accrual balances above, but are excluded from the impaired finance receivables disclosure below as charge-offs are typically determined and recorded for such loans when they are more than 90 – 150 days past due. The following table contains information about impaired finance receivables and the related allowance for loan losses, exclusive of finance receivables that were identified as impaired at the Convenience Date for which the Company is applying the income recognition and disclosure guidance in ASC 310-30 ( Loans and Debt Securities Acquired with Deteriorated Credit Quality ), which are disclosed further below in this note. Impaired Loans (dollars in millions) Six Months Ended June 30, June 30, 2015 2015 2014 Unpaid Average Average Recorded Principal Related Recorded Recorded Investment Balance Allowance Investment Investment With no related allowance recorded: International Finance $ 7.7 $ 11.0 $ - $ 8.7 $ 8.5 Corporate Finance - Equipment Finance - Commercial Services - Non-Strategic Portfolios - - - - With an allowance recorded: Transportation Finance International Finance Corporate Finance Equipment Finance Commercial Services - - - - Total Impaired Loans (1) Total Loans Impaired at Convenience Date (2) - - Total $ 79.6 $ 115.5 $ 17.5 $ 68.5 $ 269.8 Year Ended December 31, 2014 December 31, 2014 Unpaid Average Recorded Principal Related Recorded Investment Balance Allowance Investment With no related allowance recorded: International Finance $ 10.2 $ 17.0 $ - $ 10.1 Corporate Finance - Equipment Finance - Commercial Services - Non-Strategic Portfolios - - - With an allowance recorded: Transportation Finance - - - International Finance Corporate Finance Equipment Finance - - - Commercial Services - - - Total Impaired Loans (1) Total Loans Impaired at Convenience date (2) Total $ 58.0 $ 85.3 $ 12.9 $ 217.0 (1) Interest income recorded for the six months ended June 30, 2015 and 201 4 while the loans were impaired was $0.6 million and $ 6.2 million, respectively, of which $0 and $ 0.8 million was interest recognized using the cash-basis method of accounting. Interest income recorded for the year ended December 31, 2014 while the loans were impaired was $10.1 million, of which $ 0.7 million was interest recognized using the cash-basis method of accounting. (2) Details of finance receivables that were identified as impaired at the Convenience Date are presented under Loans and Debt Securities Acquired with Deteriorated Credit Quality. Impairment occurs when, based on current information and events, it is probable that CIT will be unable to collect all amounts due according to contractual terms of the agreement. The Company has established review and monitoring procedures designed to identify, as early as possible, customers that are experiencing financial difficulty. Credit risk is captured and analyzed based on the Company’s internal probability of obligor default ( “ PD ” ) and loss given default ( “ LGD ” ) ratings. A PD rating is determined by evaluating borrower credit-worthiness, including analyzing credit history, financial condition, cash flow adequacy, financial performance and management quality. An LGD rating is predicated on transaction structure, collateral valuation and related guarantees or recourse. Further, related considerations in determining probability of collection include the following: Instances where the primary source of payment is no longer sufficient to repay the loan in accordance with terms of the loan document; Lack of current financial data related to the borrower or guarantor; Delinquency status of the loan; Borrowers experiencing problems, such as operating losses, marginal working capital, inadequate cash flow, excessive financial leverage or business interruptions; Loans secured by collateral that is not readily marketable or that has experienced or is susceptible to deterioration in realizable value; and Loans to borrowers in industries or countries experiencing severe economic instability. Impairment is measured as the shortfall between estimated value and recorded investment in the finance receivable. A specific allowance or charge-off is recorded for the shortfall. In instances where the estimated value exceeds the recorded investment, no specific allowance is recorded. The estimated value is determined using fair value of collateral and other cash flows if the finance receivable is collateralized, the present value of expected future cash flows discounted at the contract’s effective interest rate, or market price. A shortfall between the estimated value and recorded investment in the finance receivable is reported in the provision for credit losses. In instances when the Company measures impairment based on the present value of expected future cash flows, the change in present value is reported in the provision for credit losses. The following summarizes key elements of the Company’s policy regarding the determination of collateral fair value in the measurement of impairment: “Orderly liquidation value” is the basis for collateral valuation; Appraisals are updated annually or more often as market conditions warrant; and Appraisal values are discounted in the determination of impairment if the: appraisal does not reflect current market conditions; or collateral consists of inventory, accounts receivable, or other forms of collateral that may become difficult to locate, or collect or may be subject to pilferage in a liquidation. Loans and Debt Securities Acquired with Deteriorated Credit Quality For purposes of this presentation, the Company is applying the income recognition and disclosure guidance in ASC 310-30 ( Loans and Debt Securities Acquired with Deteriorated Credit Quality ) to finance receivables that were identified as impaired under FSA at the Convenience Date . At June 30, 2015 and December 31, 2014, the carrying amounts approximated $0 and $1 million, respectively, and the outstanding balance approximated $14 million and $16 million, respectively. The outstanding balance represents the sum of contractual principal, interest and fees earned at the reporting date, calculated as pre-FSA net investment plus inception to date charge-offs. The allowance for loan losses on these loans was $0 at June 30, 2015 and $0.5 million at December 31, 2014. See Note 4 – Allowance for Loan Losses. Troubled Debt Restructurings The Company periodically modifies the terms of finance receivables in response to borrowers’ difficulties. Modifications that include a financial concession to the borrower are accounted for as troubled debt restructurings (TDRs). CIT uses a consistent methodology across all loans to determine if a modification is with a borrower that has been determined to be in financial difficulty and was granted a concession. Specifically, the Company’s policies on TDR identification include the following examples of indicators used to determine whether the borrower is in financial difficulty: Borrower is in default with CIT or other material creditor Borrower has declared bankruptcy Growing doubt about the borrower’s ability to continue as a going concern Borrower has (or is expected to have) insufficient cash flow to service debt Borrower is de-listing securities Borrower’s inability to obtain funds from other sources Breach of financial covenants by the borrower. If the borrower is determined to be in financial difficulty, then CIT utilizes the following criteria to determine whether a concession has been granted to the borrower: Assets used to satisfy debt are less than CIT’s recorded investment in the receivable Modification of terms – interest rate changed to below market rate Maturity date extension at an interest rate less than market rate The borrower does not otherwise have access to funding for debt with similar risk characteristics in the market at the restructured rate and terms Capitalization of interest Increase in interest reserves Conversion of credit to Payment-In-Kind (PIK) Delaying principal and/or interest for a period of three months or more Partial forgiveness of the balance. Modified loans that meet the definition of a TDR are subject to the Company’s standard impaired loan policy, namely that non-accrual loans in excess of $500,000 are individually reviewed for impairment, while non-accrual loans less than $500,000 are considered as part of homogenous pools and are included in the determination of the non-specific allowance. The recorded investment of TDRs at June 30, 2015 and December 31, 2014 was $ 15.0 million and $ 17.2 million, of which 73 % and 75 %, respectively were on non-accrual. North American Commercial Finance receivables accounted for 97% of the total TDRs at June 30, 2015 and 91% at December 31, 2014, and there were $0.2 million and $0.8 million, respectively, of commitments to lend additional funds to borrowers whose loan terms have been modified in TDRs. Recorded investment in loans related to modifications qualifying as TDRs that occurred during the quarters ended June 30, 2015 and 2014 were $1.7 million and $2.1 million, respectively and $2.3 million and $10.7 million for the six month periods. The recorded investment of TDRs that experience a payment default (payment default is one missed payment) at the time of default, during the quarters ended June 30, 2015 and 2014, and for which the payment default occurred within one year of the modification totaled $0.1 million and $0.2 million, respectively, and $0.4 million and $0.5 million for the six month periods. The 2015 and 2014 defaults related to Equipment Financing and Non-Strategic Portfolios . The financial impact of the various modification strategies that the Company employs in response to borrower difficulties is described below. While the discussion focuses on the 201 5 amounts, the overall nature and impact of modification programs were comparable in the prior year. The nature of modifications qualifying as TDR’s based upon recorded investment at June 30, 2015 and December 2014 was comprised of payment deferrals for 38% and 35% , respectively, and covenant relief and/or other for 62% and 65% , respectively . Payment deferrals result in lower net present value of cash flows, if not accompanied by additional interest or fees, and increased provision for credit losses to the extent applicable. The financial impact of these modifications is not significant given the moderate length of deferral periods; Interest rate reductions result in lower amounts of interest being charged to the customer, but are a relatively small part of the Company’s restructuring programs. Additionally, in some instances, modifications improve the Company’s economic return through increased interest rates and fees, but are reported as TDRs due to assessments regarding the borrowers’ ability to independently obtain similar funding in the market and assessments of the relationship between modified rates and terms and comparable market rates and terms. The weighted average change in interest rates for all TDRs occurring during the quarters ended June 30, 2015 and 2014 was not significant; Debt forgiveness, or the reduction in amount owed by borrower, results in incremental provision for credit losses, in the form of higher charge-offs. Whiles these types of modifications have the greatest individual impact on the allowance, the amounts of principal forgiveness for TDRs occurring during quarters ended June 30, 2015 and 2014 was not significant, as debt forgiveness is a relatively small component of the Company’s modification programs; The other elements of the Company’s modification programs that are not TDRs, do not have a significant impact on financial results given their relative size, or do not have a direct financial impact, as in the case of covenant changes.

Allowance For Loan Losses

Allowance For Loan Losses	6 Months Ended
	Jun. 30, 2015
Allowance For Loan Losses [Abstract]
Allowance For Loan Losses	NOTE 4 — ALLOWANCE FOR LOAN LOSSES Allowance for Loan Losses and Recorded Investment in Finance Receivables (dollars in millions) Transportation & International Finance North American Commercial Finance Non-Strategic Portfolios Corporate and Other Total Beginning balance - March 31, 2015 $ 55.5 $ 301.0 $ - $ - $ 356.5 Provision for credit losses Other (1) Gross charge-offs (2) Recoveries Allowance balance - June 30, 2015 $ 58.0 $ 292.9 $ - $ - $ 350.9 Beginning balance - March 31, 2014 $ 45.7 $ 306.9 $ - $ - $ 352.6 Provision for credit losses - Other (1) - - Gross charge-offs (2) - - Recoveries - Allowance balance - June 30, 2014 $ 39.7 $ 301.3 $ - $ - $ 341.0 Beginning balance - December 31, 2014 $ 46.8 $ 299.6 $ - $ - $ 346.4 Provision for credit losses Other (1) Gross charge-offs (2) Recoveries Allowance balance - June 30, 2015 Beginning balance - December 31, 2013 $ 46.7 $ 303.8 $ 5.6 $ - $ 356.1 Provision for credit losses Other (1) - Gross charge-offs (2) Recoveries Allowance balance - June 30, 2014 $ 39.7 $ 301.3 $ - $ - $ 341.0 Transportation & International Finance North American Commercial Finance Non-Strategic Portfolios Corporate and Other Total Allowance balance: At June 30, 2015 Loans individually evaluated for impairment $ 5.9 $ 11.6 $ - $ - $ 17.5 Loans collectively evaluated for impairment - - Loans acquired with deteriorated credit quality (3) - - - - - Allowance balance $ 58.0 $ 292.9 $ - $ - $ 350.9 Other reserves (1) $ 0.2 $ 37.8 $ - $ - $ 38.0 At June 30, 2014 Loans individually evaluated for impairment - - Loans collectively evaluated for impairment - - Loans acquired with deteriorated credit quality (3) - - - Allowance balance $ 39.7 $ 301.3 $ - $ - $ 341.0 Other reserves (1) $ 0.5 $ 30.9 $ - $ - $ 31.4 Finance receivables: At June 30, 2015 Loans individually evaluated for impairment $ 34.6 $ 45.0 $ - $ - $ 79.6 Loans collectively evaluated for impairment - - Loans acquired with deteriorated credit quality (3) - - - - - Ending balance $ 3,717.1 $ 15,932.2 $ - $ - $ 19,649.3 Percent of loans to total loans At June 30, 2014 Loans individually evaluated for impairment $ 31.1 $ 192.2 $ - $ - $ 223.3 Loans collectively evaluated for impairment - - Loans acquired with deteriorated credit quality (3) - - Ending balance $ 3,228.3 $ 15,376.1 $ - $ - $ 18,604.4 Percent of loans to total loans (1) “Other reserves” represents additional credit loss reserves for unfunded lending commitments, letters of credit and for deferred purchase agreements, all of which is recorded in Other liabilities. “Other” also includes changes relating to sales and foreign currency translations. (2) Gross charge-offs include $ 5 million charged directly to the Allowance for loan losses for both the quarter and six months ended June 30, 2015, related to North American Commercial Finance. Gross charge- offs include $3 million and $9 million charged directly to the Allowance for loan losses for the quarter and six months ended June 30, 2014, respectively, related to North American Commercial Finance. (3) Represents loans considered impaired in FSA and are accounted for under the guidance in ASC 310-30 (Loans and Debt Securities Acquired with Deteriorated Credit Quality).

Securities Purchased Under Resa

Securities Purchased Under Resale Agreements	6 Months Ended
	Jun. 30, 2015
Securities Purchased Under Resale Agreements [Abstract]
Securities Purchased Under Resale Agreements	NOTE 5 – SECURITIES PURCHASED UNDER RESALE AGREEMENTS At June 30, 2015 and December 31, 2014, the Company had $750 million and $650 million, respectively, of securities purchased under resale agreements. Securities purchased under agreements to resell (reverse repos) generally do not constitute a sale or purchase of the underlying securities for accounting purposes and, therefore are treated as collateralized financing transactions. These agreements are recorded at the amounts at which the securities were acquired. See Note 9 – Fair Value for discussion of fair value. These agreements are short-term securities that have maturity dates of predominately three months or less and are secured by the underlying collateral, which, along with the cash investment, are maintained by a tri-party custodian.

Investment Securities

Investment Securities	6 Months Ended
	Jun. 30, 2015
Investment Securities [Abstract]
Investment Securities	NOTE 6 — INVESTMENT SECURITIES Investments include debt and equity securities. The Company ’s debt securities primarily include U.S. Government Agency securities , U.S. Treasury securities, and supranational and foreign government securities . Equity securities include common stock and warrants. Investment Securities (dollars in millions) June 30, December 31, 2015 2014 Debt securities available-for-sale $ 1,300.6 $ 1,116.5 Equity securities available-for-sale Debt securities held-to-maturity (1) Non-marketable equity investments (2) Total investment securities $ 1,692.9 $ 1,550.3 (1) Recorded at amortized cost less impairment on securities that have credit-related impairment. (2) Non-marketable equity investments include ownership interests greater than 3% in limited partnership investments that are accounted for under the equity method . Non-marketable equity investments include $ 18.4 million and $ 19.7 million in limited partnerships at June 30, 2015 and December 31, 2014, respectively, accounted for under the equity method. The remaining investments are carried at cost and include qualified Community Reinvestment Act (“CRA”) investments, equity fund holdings and shares issued by customers during loan work out situations or as part of an original loan investment. Realized investment gains totaled $ 3. 8 million and $5.6 million for the quarters and $4.5 million and $9.1 million for the six month s ended June 30, 2015 and 2014, respectively, and exclude losses from other than temporary impairments (“OTTI”). OTTI impairments on equity securities recognized in earnings were not material for the quarters and six months ended June 30, 2015 and 2014. Impairment amounts in accumulated other comprehensive income (“AOCI”) were not material at June 30, 2015 or December 31, 2014. In addition, the Company maintained $ 4.2 billion and $6.2 billion of interest bearing deposits at June 30, 2015 and December 31, 2014, respectively, which are cash equivalents and are classified separately on the balance sheet. The follo wing table presents interest and dividends on interest bearing deposits, investments and reverse repurchase agreements : Interest and Dividend Income (dollars in millions) Quarters Ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 Interest income - interest bearing deposits $ 3.4 $ 4.5 $ 7.4 $ 9.1 Interest income - investments / reverse repos Dividends - investments Interest and dividends on interest bearing deposits and investments $ 9.0 $ 8.4 $ 17.6 $ 17.2 Securities Available-for-Sale (“AFS”) The following table presents amortized cost and fair value of securities AFS. Securities AFS — Amortized Cost and Fair Value (dollars in millions) Gross Gross Amortized Unrealized Unrealized Fair June 30, 2015 Cost Gains Losses Value Debt securities AFS U.S. Treasury securities $ 600.0 $ - $ (0.0) $ 600.0 U.S. government agency obligations - Supranational and foreign government securities - Total debt securities AFS Equity securities AFS Total securities AFS $ 1,314.6 $ 0.4 $ (0.1) $ 1,314.9 December 31, 2014 Debt securities AFS U.S. Treasury securities $ 200.0 $ - $ - $ 200.0 U.S. government agency obligations - - Foreign government securities - - Total debt securities AFS - - Equity securities AFS Total securities AFS $ 1,130.5 $ 0.6 $ (0.6) $ 1,130.5 Securities AFS - Amortized Cost and Fair Value Maturities (dollars in millions) June 30, 2015 December 31, 2014 Amortized Fair Amortized Fair Cost Value Cost Value U.S. Treasury securities Due within 1 year $ 600.0 $ 600.0 $ 200.0 $ 200.0 Total U.S. government agency obligations Due within 1 year $ 100.0 $ 100.0 $ 904.2 $ 904.2 After 1 but within 5 years - - Total Supranational and foreign government securities Due within 1 year Total Total debt securities available-for-sale $ 1,300.3 $ 1,300.6 $ 1,116.5 $ 1,116.5 Debt Securities Held-to-Maturity (“HTM”) The carrying value and fair value of sec urities HTM were as follows: Debt Securities HTM — Carrying Value and Fair Value (dollars in millions) Gross Gross Carrying Unrealized Unrealized Fair Value Gains Losses Value June 30, 2015 Mortgage-backed securities - U.S. government owned and sponsored agencies $ 161.1 $ 1.5 $ (3.5) $ 159.1 State and municipal Foreign government - Corporate - foreign - Total debt securities held-to-maturity $ 319.9 $ 8.7 $ (4.3) $ 324.3 December 31, 2014 Mortgage-backed securities - U.S. government owned and sponsored agencies $ 156.3 $ 2.5 $ (1.9) $ 156.9 State and municipal Foreign government - Corporate - foreign - Total debt securities held-to-maturity $ 352.3 $ 11.7 $ (3.7) $ 360.3 The following table presents the amortized cost a nd fair value of securities HTM by contractual maturity dates: Securities H TM — Amortized Cost and Fair Value Maturities (dollars in millions) June 30, 2015 December 31, 2014 Amortized Fair Amortized Fair Cost Value Cost Value Mortgage-backed securities - U.S. government owned and sponsored agencies Due after 5 but within 10 years $ 1.3 $ 1.3 $ 1.3 $ 1.3 Due after 10 years (1) Total State and municipal Due within 1 year Due after 1 but within 5 years Due after 10 years (1) Total Foreign government Due within 1 year Due after 1 but within 5 years Total Corporate - Foreign Due within 1 year Due after 1 but within 5 years After 5 but within 10 years Total Total debt securities held-to-maturity $ 319.9 $ 324.3 $ 352.3 $ 360.3 (1 ) Investments with no stated maturities are included as contract ual maturities of greater than 10 years. Actual maturities may differ due to call or prepayment rights.

Long-Term Borrowings

Long-Term Borrowings	6 Months Ended
	Jun. 30, 2015
Long-Term Borrowings [Abstract]
Long-Term Borrowings	NOTE 7 — LONG-TERM BORROWINGS The following table presents the carrying value of outstanding long-term borrowings : Long-term Borrowings (dollars in millions) June 30, 2015 December 31, 2014 CIT Group Inc. Subsidiaries Total Total Senior Unsecured (1) $ 10,732.8 $ - $ 10,732.8 $ 11,932.4 Secured borrowings - Total Long-term Borrowings $ 10,732.8 $ 5,708.8 $ 16,441.6 $ 18,455.8 (1) Senior Unsecured Notes at June 30, 2015 were comprised of $ 8,243.8 million of Unsecured Notes , $ 2,450.0 million of Series C Notes and $ 39.0 million of other unsecured debt. Unsecure d Borrowings Revolving Credit Facility There were no outstanding borrowings under the Revolving Credit Facility at June 30, 2015 and December 31, 2014. The amount available to draw upon at June 30, 2015 was approximately $ 1.4 billion, with the remaining amount of approximately $ 0.1 billion being utilized for issuance of letters of credit. The Revolving Credit Facility has a total commitment amount of $ 1.5 billion and the maturity date of the commitment is January 27, 2017. The total commitment amount consists of a $ 1.15 billion revolving loan tranche and a $ 350 million revolving loan tranche that can also be utilized for issuance of letters of credit. The applicable margin charged under the facility is 2.50% for LIBOR-based loans and 1.50% for Base Rate loans. The Revolving Credit Facility may be drawn and prepaid at the option of CIT. The unutilized portion of any commitment under the Revolving Credit Facility may be reduced permanently or terminated by CIT at any time without penalty. The Revolving Credit Facility is unsecured and is guaranteed by eight of the Company’s domestic operating subsidiaries. The facility was amended in January 2014 to modify the covenant requiring a minimum guarantor asset coverage ratio and the criteria for calculating the ratio. The amended covenant requires a minimum guarantor asset coverage ratio ranging from 1.25 : 1.0 to the current requirement of 1.5 : 1.0 depending on the Company’s long-term senior unsecured debt rating. The Revolving Credit Facility is subject to a $ 6 billion minimum consolidated net worth covenant of the Company, tested quarterly, and also limits the Company’s ability to create liens, merge or consolidate, sell, transfer, lease or dispose of all or substantially all of its assets, grant a negative pledge or make certain restricted payments during the occurrence and continuance of an event of default. Senior Unsecured Notes In January 2015, we filed a “shelf” registration that expires in January 2018 that replaced an existing shelf. The notes issued under the shelf registration rank equal in right of payment with the Series C Unsecured Notes and the Revolving Credit Facility. The following tables present the principal amounts of Senior Unsecured Notes issued under the Company’s shelf registration and Series C Unsecured Notes by maturity date. Senior Unsecured Notes (dollars in millions) Maturity Date Rate (%) Date of Issuance Par Value May 2017 May 2012 August 2017 August 2012 March 2018 March 2012 April 2018* March 2011 February 2019* February 2012 February 2019 February 2014 May 2020 May 2012 August 2022 August 2012 August 2023 August 2013 Weighted average rate and total $ 10,700.0 * Series C Unsecured Notes The Indentures for the Senior Unsecured Notes and Series C Unsecured Notes limit the Company’s ability to create liens, merge or consolidate, or sell, transfer, lease or dispose of all or substantially all of its assets. Upon a Change of Control Triggering Event as defined in the Indentures for the Senior Unsecured Notes and Series C Unsecured Notes, holders of the Senior Unsecured Notes and Series C Unsecured Notes will have the right to require the Company, as applicable, to repurchase all or a portion of the Senior Unsecured Notes and Series C Unsecured Notes at a purchase price equal to 101 % of the principal amount, plus accrued and unpaid interest to the date of such repurchase. Secured Borrowings Set forth below are borrowings and pledged assets , which are primarily owned by consolidated variable interest entities . Creditors of these entities received ownership and/or security interests in the assets. These entities are intended to be bankruptcy remote so that such assets are not available to creditors of CIT or any affiliates of CIT until and unless the related secured borrowings have been fully discharged. These transactions do not meet accounting requirements for sales treatment and are recorded as secured borrowings. Secured Borrowings and Pledged Assets Summary (1) (dollars in millions) June 30, 2015 December 31, 2014 Secured Borrowing Pledged Assets Secured Borrowing Pledged Assets Rail (2) $ 1,109.2 $ 1,512.9 $ 1,179.7 $ 1,575.7 Aerospace (2) International Finance Subtotal - Transportation & International Finance Corporate Finance Real Estate Finance - - Commercial Services Equipment Finance Subtotal - North American Commercial Finance Total $ 5,708.8 $ 9,444.6 $ 6,523.4 $ 10,527.7 (1) As part of our liquidity management strategy, we pledge assets to secure financing transactions (which include securitizations), borrowings from the FHLB and FRB, and for other purposes as required or permitted by law. (2) At June 30, 2015 the GSI TRS related borrowings and pledged assets, respectively, of $1.2 billion and $1.8 billion were included in TIF. The GSI TRS is described in Note 8 – Derivative Financial Instruments. CIT Bank is a member of the Federal Home Loan Banks (“ FHLB ”) and may borrow under lines of credit that are secured by a blanket lien on the subsidiary’s assets and collateral pledged , including real estate assets. At June 30, 2015, $147 million of advances were outstanding and $ 161 million of collateral was pledged and included in Corporate Finance in the table above. At December 31, 2014, $255 million of advances were outstanding and $310 million of collateral was pledged and included in Corporate Finance and Real Estate Finance in the table above. At June 30, 2015 we had pledged assets (including collateral for the FRB discount window not in the table above) of $11.4 billion, which included $6.1 billion of loans (including amounts held for sale), $4.7 billion of operating lease assets, $0.4 billion of cash and $0.2 billion of investment securities. Variable Interest Entities (“VIEs”) The Company utilizes VIEs in the ordinary course of business to support its own and its customers’ financing needs. Each VIE is a separate legal entity and maintains its own books and records. The most significant types of VIEs that CIT utilizes are ‘on balance sheet’ secured financings of pools of leases and loans originated by the Company where the Company is the primary beneficiary . The Company originates pools of assets and sells these to special purpose entities, which, in turn, issue debt instruments backed by the asset pools or sell s individual interests in the assets to investors. CIT retains the servicing rights and participates in certain cash flows. These VIEs are typically organized as trusts or limited liability companies, and are intended to be bankruptcy remote, from a legal standpoint. The main risks inherent in these secured borrowing structures are deterioration in the credit performance of the vehicle’s underlying asset portfolio and risk associated with the servicing of the underlying assets. Lenders typically have recourse to the assets in the VIEs and may benefit from other credit enhancements, such as: (1) a reserve or cash collateral account that requires the Company to deposit cash in an account, which will first be used to cover any defaulted obligor payments, (2) over-collateralization in the form of excess assets in the VIE, or (3) subordination, whereby the Company retains a subordinate position in the secured borrowing which would absorb losses due to defaulted obligor payments before the senior certificate holders. The VIE may also enter into derivative contracts in order to convert the debt issued by the VIEs to match the underlying assets or to limit or change the risk of the VIE. With respect to events or circumstances that could expose CIT to a loss, as these are accounted for as on balance sheet, the Company records an allowance for loan losses for the credit risks associated with the underlying leases and loans. The VIE has an obligation to pay the debt in accordance with the terms of the underlying agreements. Generally, third-party investors in the obligations of the consolidated VIEs have legal recourse only to the assets of the VIEs and do not have recourse to the Company beyond certain specific provisions that are customary for secured financing transactions, such as asset repurchase obligations for breaches of representations and warranties. In addition, the assets are generally restricted to pay only such liabilities.

Derivative Financial Instrument

Derivative Financial Instruments	6 Months Ended
	Jun. 30, 2015
Derivative Financial Instruments [Abstract]
Derivative Financial Instruments	NOTE 8 — DERIVATIVE FINANCIAL INSTRUMENTS As part of managing economic ris k and exposure to interest rate and foreign currency risk, the Company primarily enters into derivative transactions in over-the-counter markets with other financial institutions . The Company does not enter into derivative financial instruments for speculative purposes. The Dodd-Frank Wall Street Reform and Consumer Protection Act (the “Act”) includes measures to broaden the scope of derivative instruments subject to regulation by requiring clearing and exchange trading of certain derivatives, and imposing margin, reporting and registration requirements for certain market participants. Since the Company does not meet the definition of a Swap Dealer or Major Swap Participant under the Act, the reporting and clearing obligations apply to a limited number of derivative transactions executed with its lending customers in order to manage their interest rate risk. See Note 1 — Business and Summary of Significant Accounting Policies in the Company’s Annual Report on Form 10-K for the year ended December 31, 2014 for further description of its derivative transaction policies. The following table presents fair values and notional values of derivative financial instruments: Fair and Notional Values of Derivative Financial Instruments (1) (dollars in millions) June 30, 2015 December 31, 2014 Notional Asset Fair Liability Notional Asset Fair Liability Qualifying Hedges Amount Value Fair Value Amount Value Fair Value Foreign currency forward contracts – net investment hedges $ 955.1 $ 41.0 $ (7.1) $ 1,193.1 $ 74.7 $ - Total Qualifying Hedges $ 955.1 $ 41.0 $ (7.1) $ 1,193.1 $ 74.7 $ - Non-Qualifying Hedges Interest rate swaps Written options - - Purchased options - - Foreign currency forward contracts Total Return Swap (TRS) - - Equity Warrants - - Total Non-qualifying Hedges Total Hedges $ 10,182.6 $ 101.5 $ (88.1) $ 9,876.7 $ 168.0 $ (62.3) (1) Presented on a gross basis Total Return Swap s (“TRS”) Two financing facilities between two wholly-owned subsidiaries of CIT and Goldman Sachs International (“GSI”) are structured as total return swaps (“TRS”), under which amounts available for advances are accounted for as derivatives. Pursuant to applicable accounting guidance, only the unutilized portion of the TRS is accounted for as a derivative and recorded at its estimated fair value. The size of the CIT Financial Ltd. (“CFL”) facility is $1.5 billion and the CIT TRS Funding B.V. (“BV”) facility is $625 million. The aggregate “notional amounts” of the total return swaps of $1,122.2 million at June 30, 2015 and $1,091.9 million at December 31, 2014 represent the aggregate unused portions under the CFL and BV facilities and constitute derivative financial instruments. These notional amounts are calculated as the maximum aggregate facility commitment amounts, currently $ 2,125.0 million, less the aggregate actual adjusted qualifying borrowing base outstanding of $ 1,002.8 million at June 30, 2015 and $ 1,033.1 million at December 31, 2014 under the facilities. The notional amounts of the derivatives will increase as the adjusted qualifying borrowing base decreases due to repayment of the underlying asset-backed securities (“ABS”) to investors. If CIT funds additional ABS under the facilities, the aggregate adjusted qualifying borrowing base of the total return swaps will increase and the notional amount of the derivatives will decrease accordingly. Valuation of the derivatives related to the GSI facilities is based on several factors using a discounted cash flow (“DCF”) methodology, including: - CIT’s funding costs for similar financings based on current market conditions; - Forecasted usage of the long-dated facilities through the final maturity date in 2028; and - Forecasted amortization, due to principal payments on the underlying ABS, which impacts the amount of the unutilized portion. Based on the Company’s valuation, a liability of $ 31.9 million and $24.5 million was recorded at June 30, 2015 and December 31, 2014, respectively. The increases in the liability of $6.4 million and $7.4 million were recognized as a reduction to Other Income for the quarter and six months ended June 30, 2015, respectively. The decreases in the liability of $11.4 million and $9.7 million were recognized as a benefit to Other Income for the quarter and six months ended June 30, 2014, respectively. Impact of Collateral and Netting Arrangements on the Total Derivative Portfolio The following tables present a summary of our derivative portfolio, which includes the gross amounts of recognized financial assets and liabilities; the amounts offset in the consolidated balance sheet; the net amounts presented in the consolidated balance sheet; the amounts subject to an enforceable master netting arrangement or similar agreement that were not included in the offset amount above, and the amount of cash collateral received or pledged. Substantially all of the derivative transactions are under an International Swaps and Derivatives Association (“ISDA”) agreement. Offsetting of Derivative Assets and Liabilities (dollars in millions) Gross Amounts not offset in the Consolidated Balance Sheet Gross Amount of Recognized Assets (Liabilities) Gross Amount Offset in the Consolidated Balance Sheet Net Amount Presented in the Consolidated Balance Sheet Derivative Financial Instruments (1) Cash Collateral Pledged/(Received) (1)(2) Net Amount June 30, 2015 Derivative assets $ 101.5 $ - $ 101.5 $ (34.5) $ (46.0) $ 21.0 Derivative liabilities - December 31, 2014 Derivative assets $ 168.0 $ - $ 168.0 $ (13.6) $ (137.3) $ 17.1 Derivative liabilities - ( 1 ) The Company’s derivative transactions are governed by ISDA agreements that allow for net settlements of certain payments as well as offsetting of all contracts (“Derivative Financial Instruments”) with a given counterparty in the event of bankruptcy or default of one of the two parties to the transaction. We believe our ISDA agreement s meet the definition of a master netting arrangement or similar agreement for purposes of the above disclosure. In conjunction with the ISDA agreement s, the Company has entered into collateral arrangements with its counterparties which provide for the exchange of cash depending on the change in the market valuation of the derivative contracts outstanding. Such collateral is available to be applied in settlement of the net balances upon an event of default by one of the counterparties . ( 2 ) Collateral pl edged or received is included in O ther assets or O ther liabilities, respectively. Derivative Instrument Gains and Losses (dollars in millions) Quarters Ended June 30, Six Months Ended June 30, Derivative Instruments Gain / (Loss) Recognized 2015 2014 2015 2014 Qualifying Hedges $ - $ - $ - $ - Non Qualifying Hedges Cross currency swaps Other income - - Interest rate swaps Other income - Interest rate options Other income Foreign currency forward contracts Other income Equity warrants Other income TRS Other income Total Non-qualifying Hedges Total derivatives-income statement impact $ (46.0) $ (32.6) $ 3.4 The following table presents the changes in AOCI relating to derivatives: Changes in AOCI Relating to Derivatives (dollars in millions) Contract Type Derivatives - effective portion reclassified from AOCI to income Hedge ineffectiveness recorded directly in income Total income statement impact Derivatives - effective portion recorded in OCI Total change in OCI for period Quarter Ended June 30, 2015 Foreign currency forward contracts - net investment hedges $ - $ - $ - $ (21.5) $ (21.5) Total $ - $ - $ - $ (21.5) $ (21.5) Quarter Ended June 30, 2014 Foreign currency forward contracts - net investment hedges - Cross currency swaps - net investment hedges - - - Total $ (3.0) $ - $ (3.0) $ (23.7) $ (20.7) Six Months Ended June 30, 2015 Foreign currency forward contracts - net investment hedges - Total $ 4.2 $ - $ 4.2 $ 62.3 $ 58.1 Six Months Ended June 30, 2014 Foreign currency forward contracts - cash flow hedges $ - $ - $ - $ (0.1) $ (0.1) Foreign currency forward contracts - net investment hedges - Cross currency swaps - net investment hedges - - - Total $ (6.1) $ - $ (6.1) $ (17.5) $ (11.4)

Fair Value

Fair Value	6 Months Ended
	Jun. 30, 2015
Fair Value [Abstract]
Fair Value	NOTE 9 — FAIR VALUE Fair Value Hierarchy The Company is required to report fair value measurements for specified classes of assets and liabilities. See Note 1 — “Business and Summary of Significant Accounting Policies” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2014 for further description of its derivative transaction policies for fair value measurement policy. The Company characterizes inputs in the determination of fair value according to the fair value hierarchy. The fair value of the Company’s assets and liabilities where the measurement objective specifically requires the use of fair value are set forth in the tables below: June 30, 2015 Total Level 1 Level 2 Level 3 Assets Debt Securities AFS $ 1,300.6 $ 600.5 $ 700.1 $ - Equity Securities AFS - - Derivative assets at fair value -non-qualifying hedges - - Derivative assets at fair value - qualifying hedges - - Total $ 1,416.4 $ 614.8 $ 801.6 $ - Liabilities Derivative liabilities at fair value - non-qualifying hedges - Derivative liabilities at fair value - qualifying hedges - - Total $ (88.1) $ - $ (54.1) $ (34.0) December 31, 2014 Assets Debt Securities AFS $ 1,116.5 $ 212.3 $ 904.2 $ - Equity Securities AFS - - Derivative assets at fair value -non-qualifying hedges - - Derivative assets at fair value - qualifying hedges - - Total $ 1,298.5 $ 226.3 $ 1,072.2 $ - Liabilities Derivative liabilities at fair value - non-qualifying hedges $ (62.3) $ - $ (35.7) $ (26.6) Total $ (62.3) $ - $ (35.7) $ (26.6) The following table presents financial instruments for which a non-recurring change in fair value has been recorded in the current year: Assets Measured at Fair Value on a Non-recurring Basis with a Change in Fair Value Recorded (dollars in millions) Fair Value Measurements at Reporting Date Using: Total Level 1 Level 2 Level 3 Total Gains and (Losses) Assets June 30, 2015 Assets held for sale $ 388.7 $ - $ - $ 388.7 $ (21.5) Impaired loans - - Total $ 438.3 $ - $ - $ 438.3 $ (46.6) December 31, 2014 Assets held for sale $ 949.6 $ - $ - $ 949.6 $ (73.6) Impaired loans - - Total $ 962.8 $ - $ - $ 962.8 $ (78.5) Loans are transferred from held for investment (“HFI”) to Assets held for sale (“HFS”) at the lower of cost or fair value. At the time of transfer, a write-down of the loan is recorded as a charge-off, if applicable. Once classified as HFS, the amount by which the carrying value exceeds fair value is recorded as a valuation allowance. Impaired finance receivables of $500,000 or greater that are placed on non-accrual status are subject to periodic individual review in conjunction with the Company’s ongoing problem loan management (PLM) function. Impairment occurs when, based on current information and events, it is probable that CIT will be unable to collect all amounts due according to contractual terms of the agreement. Impairment is measured as the shortfall between estimated value and recorded investment in the finance receivable, with the estimated value determined using fair value of collateral and other cash flows if the finance receivable is collateralized, or the present value of expected future cash flows discounted at the contract’s effective interest rate. Level 3 Gains and Losses The tables below set forth a summary of changes in the estimated fair value of the Company’s Level 3 financial assets and liabilities measured on a recurring basis: Changes in Fair Value of Level 3 Financial Assets and Liabilities Measured on a Recurring Basis (dollars in millions) Total (all derivatives) December 31, 2014 $ (26.6) Gains or losses realized/unrealized included in Other Income (1) June 30, 2015 $ (34.0) December 31, 2013 $ (9.7) Gains or losses realized/unrealized included in Other Income (1) $ 9.7 June 30, 2014 $ - (1) Valuation of the derivatives related to the GSI facilities and written options on certain CIT Bank CD. Fair Values of Financial Instruments The carrying and estimated fair values of financial instruments presented below exclude leases and certain other assets and liabilities, which are not required for disclosure. Financial Instruments (dollars in millions) Estimated Fair Value Carrying June 30, 2015 Value Level 1 Level 2 Level 3 Total Financial Assets Derivative assets at fair value - non-qualifying hedges $ 60.5 $ - $ 60.5 $ - $ 60.5 Derivative assets at fair value - qualifying hedges - - Assets held for sale (excluding leases) - Loans (excluding leases) - Securities purchased under agreements to resell - Investment securities Other assets subject to fair value disclosure and unsecured counterparty receivables (1) - - Financial Liabilities Deposits (2) - - Derivative liabilities at fair value - non-qualifying hedges - Derivative liabilities at fair value - qualifying hedges - - Long-term borrowings (2) - Credit balances of factoring clients - - Other liabilities subject to fair value disclosure (3) - - December 31, 2014 Financial Assets Derivative assets at fair value - non-qualifying hedges $ 93.3 $ - $ 93.3 $ - $ 93.3 Derivative assets at fair value - qualifying hedges - - Assets held for sale (excluding leases) - - Loans (excluding leases) - Securities purchased under agreements to resell - - Investment securities Other assets subject to fair value disclosure and unsecured counterparty receivables (1) - - Financial Liabilities Deposits (2) - - Derivative liabilities at fair value - non-qualifying hedges - Long-term borrowings (2) - Credit balances of factoring clients - - Other liabilities subject to fair value disclosure (3) - - (1) Other assets subject to fair value disclosure primarily include accrued interest receivable and miscellaneous receivables. These assets have carrying values that approximate fair value generally due to the short-term nature and are classified as level 3. The unsecured counterparty receivables primarily consist of amounts owed to CIT from GSI for debt discount, return of collateral posted to GSI and settlements resulting from market value changes to asset-backed securities underlying the GSI Facilities (2) Deposits and long-term borrowings include accrued interest, which is included in "Other liabilities" in the Balance Sheet. (3) Other liabilities subject to fair value disclosure include accounts payable, accrued liabilities, customer security and maintenance deposits and miscellaneous liabilities. The fair value of these approximate carrying value and are classified as level 3. Assumptions used to value financial instruments are set forth below: Derivatives – The estimated fair values of derivatives were calculated internally using observable market data and represent the net amount receivable or payable to terminate, taking into account current market rates, which represent Level 2 inputs, except for the TRS derivative and written options on certain CIT Bank CDs that utilized Level 3 inputs. Derivatives are included in Other Assets and Other Liabilities in the Consolidated Balance Sheets. See Note 8 — Derivative Financial Instruments for notional principal amounts and fair values. Assets held for sale – Assets held for sale are recorded at the lower of cost or fair value on the balance sheet. When there is no liquid secondary market for the other assets held for sale in the Company’s portfolio, the fair value is estimated based on a binding contract, current letter of intent or other third-party valuation, or using internally generated valuations or discounted cash flow analysis, all of which are Level 3 inputs. Commercial loans are generally valued individually, while small-ticket commercial loans are valued on an aggregate portfolio basis. Loans – Of the loan balance above, approximately $ 1.5 billion and $1.6 billion at June 30, 2015 and December 31, 2014 , respectively, was valued using Level 2 inputs. As there is no liquid secondary market for the other loans in the Company’s portfolio, the fair value is estimated based on discounted cash flow analyses which use Level 3 inputs at both June 30, 2015 and December 31, 2014. In addition to the characteristics of the underlying contracts, key inputs to the analysis include interest rates, prepayment rates, and credit spreads. For the commercial loan portfolio, the market based credit spread inputs are derived from instruments with comparable credit risk characteristics obtained from independent third party vendors. As these Level 3 unobservable inputs are specific to individual loans / collateral types, management does not believe that sensitivity analysis of individual inputs is meaningful, but rather that sensitivity is more meaningfully assessed through the evaluation of aggregate carrying values of the loans. The fair value of loans at June 30, 2015 was $ 14.1 billion, which was 98.1 % of carrying value. The fair value of loans at December 31, 2014 was $14.1 billion, which was 97.9% of carrying value. Impaired Loans – The value of impaired loans is estimated using the fair value of collateral (on an orderly liquidation basis) if the loan is collateralized, or the present value of expected cash flows utilizing the current market rate for such loan. As these Level 3 unobservable inputs are specific to individual loans / collateral types, management does not believe that sensitivity analysis of individual inputs is meaningful, but rather that sensitivity is more meaningfully assessed through the evaluation of aggregate carrying values of impaired loans relative to contractual amounts owed (unpaid principal balance or “UPB”) from customers. As of June 30, 2015, the UPB related to impaired loans, including loans for which the Company is applying the income recognition and disclosure guidance in ASC 310-30 ( Loans and Debt Securities Acquired with Deteriorated Credit Quality), totaled $115.5 million. Including related allowances, these loans are carried at $62.1 million, or 54% of UPB. Of these amounts, $ 21.4 million and $ 17.1 million of UPB and carrying value, respectively, relate to loans with no specific allowance. As of December 31, 2014, the comparable UPB related to impaired loans totaled $85.3 million and including related allowances, these loans were carried at $45.1 million, or 53% of UPB. Of these amounts, $29.2 million and $21.2 million of UPB and carrying value relate to loans with no specific allowance. The difference between UPB and carrying value reflects cumulative charge-offs on accounts remaining in process of collection, FSA discounts and allowances. See Note 3 - Loans for more information. Securities purchased under agreements to resell – The estimated fair values of securities purchased under agreements to resell were calculated internally based on discounted cash flows that utilize observable market rates for the applicable maturity and which represent Level 2 inputs. Investment Securities – Debt and equity securities classified as AFS are carried at fair value, as determined either by Level 1 or Level 2 inputs. Debt securities classified as AFS included investments in U.S. Treasury and federal government agency securities and were valued using Level 2 inputs, primarily quoted prices for similar securities. Certain equity securities classified as AFS were valued using Level 1 inputs, primarily quoted prices in active markets, while other equity securities used Level 2 inputs, due to being less frequently traded or having limited quoted market prices. Debt securities classified as HTM are securities that the Company has both the ability and the intent to hold until maturity and are carried at amortized cost and periodically assessed for OTTI, with the cost basis reduced when impairment is deemed to be other-than-temporary. Non-marketable equity investments are generally recorded under the cost or equity method of accounting and are periodically assessed for OTTI, with the net asset values reduced when impairment is deemed to be other-than-temporary. For investments in limited equity partnership interests, we use the net asset value provided by the fund manager as an appropriate measure of fair value. Deposits – The fair value of deposits was estimated based upon a present value discounted cash flow analysis. Discount rates used in the present value calculation are based on the Company’s average current deposit rates for similar terms, which are Level 3 inputs. Long-term borrowings – Unsecured debt of approximately $10.8 billion par value and secured borrowings of approximately $2.7 billion par value at June 30, 2015, and unsecured debt of approximately $12.0 billion par value and secured borrowings of approximately $3.3 billion par value at December 31, 2014 were valued using market inputs, which are Level 2 inputs. Where market estimates were not available for approximately $3.0 billion and $3.2 billion par value at June 30, 2015 and December 31, 2014, respectively, values were estimated using a discounted cash flow analysis with a discount rate approximating current market rates for issuances by CIT of similar debt, which are Level 3 inputs.

Regulatory Capital

Regulatory Capital	6 Months Ended
	Jun. 30, 2015
Regulatory Capital [Abstract]
Regulatory Capital	NOTE 10 — REGULATORY CAPITAL The Company and the Bank are each subject to various regulatory capital requirements administered by the Federal Reserve Board (“FRB”) and the Federal Deposit Insurance Corporation (“FDIC”). Quantitative measures established by regulation to ensure capital adequacy require that the Company and the Bank each maintain minimum amounts and ratios of Total, Tier 1 and Common Equity Tier 1 capital to risk-weighted assets, and of Tier 1 capital to average assets. We compute capital ratios in accordance with Federal Reserve capital guidelines for assessing adequacy of capital. At June 30, 2015, the regulatory capital guidelines applicable to the Company were based on the Basel III Final Rule. At December 31, 2014, the regulatory capital guidelines that were applicable to the Company were based on the Capital Accord of the Basel Committee on Banking Supervision (Basel I). The calculation of the Company’s regulatory capital ratios are subject to review and consultation with the FRB, which may result in refinements to amounts reported at June 30, 2015. Tier 1 Capital and Total Capital Components (1) (dollars in millions) CIT CIT Bank June 30, December 31, June 30, December 31, Tier 1 Capital 2015 2014 2015 2014 Total stockholders’ equity (2) $ 8,807.1 $ 9,068.9 $ 2,779.6 $ 2,716.4 Effect of certain items in accumulated other comprehensive loss excluded from Tier 1 Capital and qualifying noncontrolling interests Adjusted total equity Less: Goodwill (3) Disallowed deferred tax assets - - Disallowed intangible assets (3) - - Investment in certain subsidiaries NA NA - Other Tier 1 components (4) - Common Equity Tier 1 Capital Tier 1 Capital Tier 2 Capital Qualifying allowance for credit losses and other reserves (5) Less: Investment in certain subsidiaries NA - - Other Tier 2 components (6) - - - Total qualifying capital $ 8,421.8 $ 8,412.4 $ 2,869.3 $ 2,781.5 Risk-weighted assets $ 55,396.0 $ 55,480.9 $ 20,770.4 $ 19,552.3 Common Equity Tier 1 Capital (to risk-weighted assets): Actual NA NA Effective minimum ratios under Basel III guidelines (7) NA NA Tier 1 Capital (to risk-weighted assets): Actual Effective minimum ratios under Basel III and Basel I guidelines (7) Total 1 Capital (to risk-weighted assets): Actual Effective minimum ratios under Basel III and Basel I guidelines (7) Tier 1 Leverage Ratio: Actual Required minimum ratio for capital adequacy purposes ( 1) The June 30, 2015 presentation reflects the risk-based capital guidelines under Basel III, which became effective on January 1, 2015. The December 31, 2014 reflects the risk-based capital guidelines under then effective Basel I. (2) See Consolidated Balance Sheets for the components of Total stockholders’ equity. (3) Goodwill and disallowed intangible assets adjustments also reflect the portion included within assets held for sale. (4) Includes the Tier 1 capital charge for nonfinancial equity investments and the Tier 1 capital deduction for net unrealized losses on available-for-sale marketable securities (net of tax). (5) “Other reserves” represents additional credit loss reserves for unfunded lending commitments, letters of credit, and deferred purchase agreements, all of which are recorded in Other Liabilities. (6) Banking organizations are permitted to include in Tier 2 Capital up to 45% of net unrealized pretax gains on available-for-sale equity securities with readily determinable fair values. (7) Limits as of June 30, 2015 represent the r equired ratios under the fully phased-in Basel III Final Rule and include the post-transition minimum capital conservation buffer effective January 1, 2019 . The limits of December 31, 2014 represent the ratios under Basel I. NA - Balance is not applicable under the respective guidelines Effective January 1, 2015, CIT became subject to the risk-based capital guidelines that are based upon the Basel Committee’s final framework for strengthening capital and liquidity regulation, Basel III. The Company had been subject to the guidelines under Basel I. As it currently applies to CIT, the Basel III Final Rule: (i) introduces a new capital measure called “Common Equity Tier 1” (“CET1”) and related regulatory capital ratio of CET1 to risk-weighted assets; (ii) specifies that Tier 1 capital consists of CET1 and “Additional Tier 1 capital” instruments meeting certain revised requirements; (iii) mandates that most deductions/adjustments to regulatory capital measures be made to CET1 and not to the other components of capital; and (iv) expands the scope of the deductions from and adjustments to capital as compared to the prior regulations. The Basel III Final Rule also prescribed a new approach for risk weightings that follow the Standardized approach, which applies to CIT. This approach expands the risk-weighting categories from the former four Basel I-derived categories ( 0% , 20% , 50% and 100% ) to a larger and more risk-sensitive number of categories, depending on the nature of the exposure, (ranging from 0% for U.S. government and agency securities, to as high as 1,250% for such exposures as credit-enhancing interest-only strips or unsettled security/commodity transactions). The Basel III Final Rule established new minimum capital ratios for CET1, Tier 1 capital, and Total capital of 4.5% , 6.0% and 8.0% , respectively. In addition, the Basel III Final Rule also introduced a new “capital conservation buffer”, composed entirely of CET1, on top of these minimum risk-weighted asset ratios. The capital conservation buffer is designed to absorb losses during periods of economic stress. Banking institutions with a ratio of CET1 to risk-weighted assets above the minimum but below the capital conservation buffer will face constraints on dividends, equity repurchases and compensation based on the amount of the shortfall. This buffer will be implemented beginning January 1, 2016 at the 0.625% level and increase by 0.625% on each subsequent January 1, until it reaches 2.5% on January 1, 2019.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2015
Income Taxes [Abstract]
Income Taxes	NOTE 11 — INCOME TAXES The Company’s global effective income tax rate for the second quarter and six months ended June 30, 2015 was 25% and 27% , respectively , up from 8% in the year-ago quarter, and 9% in the year-ago six months ended period. The increase in the global effective tax rate is primarily the consequence of the partial release of the valuation allowance on the Company’s U.S. Federal and state net deferred tax assets in 2014 resulting in the current recognition of income tax expense on domestic earnings. The second quarter and six months ended June 30, 2015 tax provision reflected federal and state income taxes in the U.S. as well as taxes on earnings of certain international operations. The projected 2015 effective income tax rate is 29 % before the impact of discrete tax items. The quarterly income tax expense is based on an updated projection of the Company’s annual effective tax rate . This updated annual effective tax rate is applied to the year-to-date consolidated pre-tax income to determine the interim provision for income taxes before discrete items . The impact of any change in the projected annual effective tax rate from the prior quarter is reflected in the quarterly income tax expense. The change in the effective tax rate each period is impacted by a number of factors, including the relative mix of domestic and international earnings, adjustments to the valuation allowances, and discrete items. The actual year-end 2015 effective tax rate may vary from the currently projected tax rate due to changes in these factors. As of December 31, 2014, CIT had cumulative U.S. federal net operating loss carry-forwards (“NOLs”) of $ 5.7 billion, of which $ 3.0 billion was related to pre-emergence losses. These NOLs will expire between 2027 and 2033. The Company generated a modest amount of domestic taxable income year-to-date , which marginally decreased the U.S. federal net operating loss carry-forwards. Pursuant to Section 382 of the Internal Revenue Code, the Company is generally subject to a $ 264.7 million annual limitation on the use of its $3.0 billion of pre-emergence NOLs, of which approximately $1.0 billion is no longer subject to the limitation. NOLs arising in post-emergence years are not subject to this limitation absent an ownership change as defined by the Internal Revenue Service (IRS) for U.S. tax purposes. As noted in our 2014 Annual Report on Form 10-K, management concluded that it was more likely than not that the Company will generate sufficient taxable income based on management’s long-term forecast of future U.S. taxable income within the applicable carry-forward periods to support partial utilization of the U.S. federal and U.S. state NOLs. The forecast of future taxable income for the Company reflects a long-term view of growth and returns that management believes is more likely than not of being realized. However, the Company retained a valuation allowance of $1.0 billion against its U.S. net deferred tax assets at December 31, 2014. Of the $1.0 billion domestic valuation allowance, approximately $0.7 billion is against the deferred tax asset on the U.S. federal NOLs and $0.3 billion is against the deferred tax asset on the U.S. state NOLs. No discrete reduction to the valuation allowance related to the U.S. federal or state NOLs or the capital loss carry-forwards was recorded year-to-date . The ability to recognize the remaining valuation allowances against the U.S. federal and state NOLs, and capital loss carry-forwards net deferred tax assets will be evaluated on a quarterly basis to determine if there are any significant events that would affect our ability to utilize these deferred tax assets. If events are identified that affect our ability to utilize our deferred tax assets, the analysis will be updated to determine if any adjustments to the valuation allowances are required. Such events may include acquisitions that support the Company’s long-term business strategies while also enabling it to accelerate the utilization of its net operating losses, as evidenced by the acquisition of Direct Capital Corporation in 2014 and the recently approved acquisition of OneWest Bank. The impact of the OneWest transaction on the utilization of the Company’s NOLs cannot be considered in the Company’s forecast of future taxable income until the period in which the acquisition is consummated. The acquisition is expected to accelerate the utilization of the Company’s NOLs and therefore management anticipates it will reverse the remaining U.S. federal valuation allowance after consummation of the acquisition in the quarter ended September 30, 2015 . The Company is currently evaluating the impact of the acquisition on the U.S. state NOLs and expects the acquisition to utilize some portion of these amounts which would cause a partial reduction to the U.S. state valuation allowance. The Company maintained a valuation allowance of $141 million against certain international reporting entities’ net deferred tax assets at December 31, 2014. In the evaluation process related to the net deferred tax assets of the Company’s foreign reporting entities, uncertainties surrounding the international business plans, the recent international platform rationalizations, and the “cumulative losses in recent years” have made it challenging to reliably project future taxable income. The primary inputs for the forecast of future taxable income will continue to be identified as the business plans for the international operations evolve, and potential tax planning strategies are identified. Thus, as of this reporting period, the negative evidence continues to outweigh the positive evidence, and the Company continues to maintain a full valuation allowance on these entities’ net deferred tax assets. Liabilities for Uncertain Tax Positions The Company’s potential liability for uncertain tax positions totaled $ 41.8 million at June 30, 2015 and $53.7 million at December 31, 2014. The change in the balance since December 31, 2014 primarily occurred this quarter and is mainly comprised of a reduction of $8.9 million resulting from receipt of a favorable tax ruling on an uncertain tax position taken on the prior years’ tax returns. Management estimates the remaining liability may be reduced by up to $ 5 million within the next twelve months. The Company’s accrued liability for interest and penalties totaled $12.8 million at June 30, 2015 and $ 13.3 million at December 31, 2014. The Company recognizes accrued interest and penalties on unrecognized tax benefits in income tax expense.

Stockholders' Equity

Stockholders' Equity	6 Months Ended
	Jun. 30, 2015
Stockholders' Equity [Abstract]
Stockholders' Equity	NOTE 1 2 — STOCKHOLDERS’ EQUITY Accumulated Other Comprehensive Income / (Loss) The following table details the components of Accumulated Other Comprehensive Loss , net of tax: Components of Accumulated Other Comprehensive Income (Loss) (dollars in millions) June 30, 2015 December 31, 2014 Gross Unrealized Income Taxes Net Unrealized Gross Unrealized Income Taxes Net Unrealized Foreign currency translation adjustments $ (87.0) $ (13.1) $ (100.1) $ (75.4) $ - $ (75.4) Changes in benefit plan net gain (loss) and prior service (cost)/credit Unrealized net gains (losses) on available for sale securities - - - Total accumulated other comprehensive loss $ (146.0) $ (12.8) $ (158.8) $ (134.1) $ 0.2 $ (133.9) The following table details the changes in the components of Accumulated Other Comprehensive Income (Loss), net of income taxes: Changes in Accumulated Other Comprehensive Loss by Component (dollars in millions) Foreign currency translation adjustments Changes in benefit plan net gain (loss) and prior service (cost) credit Changes in fair values of derivatives qualifying as cash flow hedges Unrealized net gains (losses) on available for sale securities Total AOCI Balance as of December 31, 2014 $ (75.4) $ (58.5) $ - $ - $ (133.9) AOCI activity before reclassifications - Amounts reclassified from AOCI - - Net current period AOCI - Balance as of June 30, 2015 $ (100.1) $ (58.8) $ - $ 0.1 $ (158.8) Balance as of December 31, 2013 $ (49.4) $ (24.1) $ (0.2) $ 0.1 $ (73.6) AOCI activity before reclassifications Amounts reclassified from AOCI - Net current period AOCI Balance as of June 30, 2014 $ (56.7) $ (20.9) $ (0.3) $ 0.4 $ (77.5) Other Comprehensive Income/(Loss ) The amounts included in the Statement of Comprehensive Income (Loss) are net of income taxes. Foreign currency translation reclassification adjustments impacting net income were $0 million and $0.5 million for the quarters ended June 30, 2015 and June 30 , 2014 , respectively and were $3.4 million and $2.3 million for the corresponding year to date periods . The change in income taxes associated with foreign currency translation adjustments was $6.0 million and $(13.1) million for the quarter and six months ended June 30, 2015 and there were no income taxes associated with foreign currency translation adjustments in the prior year period. The changes in benefit plans net gain/(loss) and prior service (cost)/credit reclassification adjustments impacting net income was $0.1 million for the quarter and six months ended June 30, 2015 and was $1.7 million and $3.3 million for the quarter and six months ended June 30 , 2014. The change in income taxes associated with changes in benefit plans net gain/(loss) and prior service (cost)/credit was insignificant and $0.3 million for the quarter and six months ended June 30, 2015 was not significant for the prior year periods . There were no reclassification adjustments impacting net income related to changes in fair value of derivatives qualifying as cash flow hedges for the quarters or six months ended June 30, 2015 and June 30 , 2014. There were no income taxes associated with changes in fair values of derivatives qualifying as cash flow hedges for the quarters or six months ended June 30, 2015 and June 30 , 2014. There were no reclassification adjustments impacting net income for unrealized gains (losses) on available for sale securities for the quarters or six months ended June 30, 2015 and was $0.2 million for the quarter and six months ended June 30, 2014. The change in income taxes associated with net unrealized gains on available for sale securities was approximately $(0.4) million and $(0.2) million for the quarter and six months ended June 30, 2015 and was insignificant and $ (0.2) million for the quarter and six months ended June 30 , 2014. The Company has operations in Canada and other countries. The functional currency for foreign operations is generally the local currency. The value of assets and liabilities of these operations is translated into U.S. dollars at the rate of exchange in effect at the balance sheet date. Revenue and expense items are translated at the average exchange rates during the year. The resulting foreign currency translation gains and losses, as well as offsetting gains and losses on hedges of net investments in foreign operations, are reflected in AOCI. Transaction gains and losses resulting from exchange rate changes on transactions denominated in currencies other than the functional currency are recorded in Other Income. Reclassifications O ut of Accumulated Other Comprehensive Income (dollars in millions) Quarters Ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 Affected Income Statement line item Gross Amount Tax Net Amount Gross Amount Tax Net Amount Gross Amount Tax Net Amount Gross Amount Tax Net Amount Foreign currency translation adjustments gains (losses) $ - $ - $ - $ 0.5 $ - $ 0.5 $ 3.4 $ - $ 3.4 $ 2.3 $ - $ 2.3 Operating Expenses Changes in benefit plan net gain/(loss) and prior service (cost)/credit gains (losses) - - - - Other Income Unrealized net gains (losses) on available for sale securities - - - - - - Other Income Total Reclassifications out of AOCI $ 2.5 $ (0.1) $ 2.4 $ 5.9 $ (0.1) $ 5.8

Commitments

Commitments	6 Months Ended
	Jun. 30, 2015
Commitments [Abstract]
Commitments	NOTE 1 3 — COMMITMENTS The accompanying table summarizes credit-related commitments , as well as purchase and funding commitments: Commitments (dollars in millions) June 30, 2015 December 31, Due to Expire 2014 Within After Total Total One Year One Year Outstanding Outstanding Financing Commitments Financing assets $ 1,082.1 $ 4,157.3 $ 5,239.4 $ 4,747.9 Letters of credit Standby letters of credit Other letters of credit - Guarantees Deferred purchase agreements - Guarantees, acceptances and other recourse obligations - Purchase and Funding Commitments Aerospace manufacturer purchase commitments Rail and other manufacturer purchase commitments Financing Commitments Financing commitments, referred to as loan commitments or lines of credit, reflect CIT’s agreements to lend to its customers, subject to the customers’ compliance with contractual obligations. Included in the table above are commitments that have been extended to and accepted by customers, clients or agents, but on which the criteria for funding have not been completed of $ 751 million at June 30, 2015 and $ 355 million at December 31, 2014. Financing commitments also include credit line agreements to Commercial Services clients that are cancellable by us only after a notice period. The notice period is typically 90 days or less. The amount available under these credit lines, net of the amount of receivables assigned to us, was $394 million at June 30, 2015 and $112 million at December 31, 2014. As financing commitments may not be fully drawn, may expire unused, may be reduced or cancelled at the customer’s request, and may require the customer to be in compliance with certain conditions, total commitment amounts do not necessarily reflect actual future cash flow requirements. The table above includes approximately $1.5 billion of undrawn financing commitments at June 30, 2015 and $1.3 billion at December 31, 2014 for instances where the customer is not in compliance with contractual obligations, and therefore CIT does not have the contractual obligation to lend. At June 30, 2015, substantially all undrawn financing commitments were senior facilities. Most of the Company’s undrawn and available financing commitments are in the Corporate Finance division of NACF. The table above excludes uncommitted revolving credit facilities extended by Commercial Services to its clients for working capital purposes. In connection with these facilities, Commercial Services has the sole discretion throughout the duration of these facilities to determine the amount of credit that may be made available to its clients at any time and whether to honor any specific advance requests made by its clients under these credit facilities. Letters of Credit In the normal course of meeting the needs of clients, CIT sometimes enters into agreements to provide financing and letters of credit. Standby letters of credit obligate the issuer of the letter of credit to pay the beneficiary if a client on whose behalf the letter of credit was issued does not meet its obligation. These financial instruments generate fees and involve, to varying degrees, elements of credit risk in excess of amounts recognized in the Consolidated Balance Sheets. To minimize potential credit risk, CIT generally requires collateral and in some cases additional forms of credit support from the client. Deferred Purchase Agreements A Deferred Purchase Agreement (“DPA”) is provided in conjunction with factoring, whereby CIT provides a client with credit protection for trade receivables without purchasing the receivables. The trade receivable terms are generally sixty days or less. If the client’s customer is unable to pay an undisputed receivable solely as the result of credit risk, then CIT purchases the receivable from the client. The outstanding amount in the table above is the maximum potential exposure that CIT would be required to pay under all DPAs. This maximum amount would only occur if all receivables subject to DPAs default in the manner described above, thereby requiring CIT to purchase all such receivables from the DPA clients. The table above includes $1,310 million and $1,775 million of DPA credit protection at June 30, 2015 and December 31, 2014, respectively, related to receivables which have been presented to us for credit protection after shipment of goods has occurred and the customer has been invoiced. The table also includes $90 million and $79 million available under DPA credit line agreements, net of the amount of DPA credit protection provided at June 30, 2015 and December 31, 2014, respectively. The DPA credit line agreements specify a contractually committed amount of DPA credit protection and are cancellable by us only after a notice period. The notice period is typically 90 days or less. The methodology used to determine the DPA liability is similar to the methodology used to determine the allowance for loan losses associated with the finance receivables, which reflects embedded losses based on various factors, including expected losses reflecting the Company’s internal customer and facility credit ratings. The liability recorded in Other Liabilities related to the DPAs totaled $ 4.2 million and $ 5.2 million at June 30, 2015 and December 31, 2014, respectively. Purchase and Funding Commitments CIT’s purchase commitments relate primarily to purchases of commercial aircraft and rail equipment. Commitments to purchase new commercial aircraft are predominantly with Airbus Industries (“Airbus”), The Boeing Company (“Boeing”), and Embraer S.A. (“Embraer”). CIT may also commit to purchase an aircraft directly from an airline. Aerospace equipment purchases are contracted for specific models, using baseline aircraft specifications at fixed prices, which reflect discounts from fair market purchase prices prevailing at the time of commitment. The delivery price of an aircraft may change depending on final specifications. Equipment purchases are recorded at the delivery date. The estimated commitment amounts in the preceding table are based on contracted purchase prices reduced for pre-delivery payments to date and exclude buyer furnished equipment selected by the lessee. Pursuant to existing contractual commitments, 151 aircraft remain to be purchased from Airbus, Boeing and Embraer at June 30, 2015. Aircraft deliveries are scheduled periodically through 2020. Commitments exclude unexercised options to order additional aircraft. Aerospace purchase commitments also include $0.2 billion of equipment to be purchased in 2015 pursuant to sale and lease-back agreements with airlines. The Company’s rail business entered into commitments to purchase railcars from multiple manufacturers. At June 30, 2015, approximately 11,900 railcars remain to be purchased from manufacturers with deliveries through 2017. Rail equipment purchase commitments are at fixed prices subject to price increases for certain materials. Other vendor purchase commitments primarily relate to Equipment Finance. .

Contingencies

Contingencies	6 Months Ended
	Jun. 30, 2015
Contingencies [Abstract]
Contingencies	NOTE 14 — CONTINGENCIES Litigation CIT is currently involved, and from time to time in the future may be involved, in a number of judicial, regulatory, and arbitration proceedings relating to matters that arise in connection with the conduct of its business (collectively, “Litigation”). In view of the inherent difficulty of predicting the outcome of Litigation matters, particularly when such matters are in their early stages or where the claimants seek indeterminate damages, CIT cannot state with confidence what the eventual outcome of the pending Litigation will be, what the timing of the ultimate resolution of these matters will be, or what the eventual loss, fines, or penalties related to each pending matter will be, if any. In accordance with applicable accounting guidance, CIT establishes reserves for Litigation when those matters present loss contingencies as to which it is both probable that a loss will occur and the amount of such loss can be reasonably estimated. Based on currently available information, CIT believes that the results of Litigation that is currently pending, taken together, will not have a material adverse effect on the Company’s financial condition, but may be material to the Company’s operating results or cash flows for any particular period, depending in part on its operating results for that period. The actual results of resolving such matters may be substantially higher than the amounts reserved. For certain Litigation matters in which the Company is involved, the Company is able to estimate a range of reasonably possible losses in excess of established reserves and insurance. For other matters for which a loss is probable or reasonably possible, such an estimate cannot be determined. For Litigation where losses are reasonably possible, management currently estimates the aggregate range of reasonably possible losses as up to $75 million in excess of established reserves and insurance related to those matters, if any. This estimate represents reasonably possible losses (in excess of established reserves and insurance) over the life of such Litigation, which may span a currently indeterminable number of years, and is based on information currently available as of June 30, 2015. The matters underlying the estimated range will change from time to time, and actual results may vary significantly from this estimate. Those Litigation matters for which an estimate is not reasonably possible or as to which a loss does not appear to be reasonably possible, based on current information, are not included within this estimated range and, therefore, this estimated range does not represent the Company’s maximum loss exposure. The foregoing statements about CIT’s Litigation are based on the Company’s judgments, assumptions, and estimates and are necessarily subjective and uncertain. Several of the Company’s Litigation matters are described below. Lac-Mégantic, Quebec Derailment On July 6, 2013, a freight train including five locomotives and seventy-two tank cars carrying crude oil derailed in the town of Lac-Mégantic, Quebec. Nine of the tank cars were owned by The CIT Group/Equipment Financing, Inc. (“CIT/EF”) (a wholly-owned subsidiary of the Company) and leased to Western Petroleum Company (“WPC”), a subsidiary of World Fuel Services Corp. (“WFS”). Two of the locomotives are owned by CIT/EF and were leased to Montreal, Maine & Atlantic Railway, Ltd. (“MMA”), the railroad operating the freight train at the time of the derailment, a subsidiary of Rail World, Inc. The derailment was followed by explosions and fire, which resulted in the deaths of over forty people and an unknown number of injuries, the destruction of more than thirty buildings in Lac-Mégantic, and the release of crude oil on land and into the Chaudière River . The extent of the property and environmental damage has not yet been determined. Twenty lawsuits have been filed in Illinois by representatives of the deceased in connection with the derailment. The Company is named as a defendant in seven of the Illinois lawsuits, together with 13 other defendants, including WPC, MMA (who has since been dismissed without prejudice as a result of its chapter 11 bankruptcy filing on August 7, 2013), and the lessors of the other locomotives and tank cars. Liability could be joint and several among some or all of the defendants. All but two of these cases have been consolidated in the U.S. District Court in the Northern District of Illinois and transferred to the U.S. District Court in Maine. The Company has been named as an additional defendant in a pending class action in the Superior Court of Quebec, Canada. Other cases may be filed in U.S. and Canadian courts. The plaintiffs in the pending U.S. and Canadian actions assert claims of negligence and strict liability based upon alleged design defect against the Company in connection with the CIT/EF tank cars. The Company has rights of indemnification and defense against its lessees, WPC and MMA (a debtor in bankruptcy), and also has rights as an additional insured under liability coverage maintained by the lessees. On July 28, 2014, the Company commenced a lawsuit against WPC in the U.S. District Court in the District of Minnesota to enforce its rights of indemnification and defense. In addition to its indemnification and insurance rights against its lessees, the Company and its subsidiaries maintain contingent and general liability insurance for claims of this nature, and the Company and its insurers are working cooperatively with respect to these claims. The Lac-Mégantic derailment triggered a number of regulatory investigations and actions. The Transportation Safety Board of Canada issued its final report on the cause(s) of the derailment in September 2014. In addition, Quebec’s Environment Ministry has issued an order to WFS, WPC, MMA, and Canadian Pacific Railway (which allegedly subcontracted with MMA) to pay for the full cost of environmental clean-up and damage assessment related to the derailment. The Company is vigorously defending the claims that have been asserted, including pursuing its rights under indemnification agreements and insurance policies. MMA’s U.S. bankruptcy trustee, together with its Canadian bankruptcy monitor has reached settlements with almost all of the defendants in the various pending lawsuits , including CIT. The settlement s remain subject to court approval in Canada and the U.S. CIT’s settlement, if approved, will not have a material adverse effect on the Company’s financial condition or results of operations. BRAZILIAN TAX MATTERS Banco Commercial Investment Trust do Brasil S.A. (“Banco CIT”), CIT’s Brazilian bank subsidiary, is pursuing a number of tax appeals relating to disputed local tax assessments on leasing services and importation of equipment. The disputes primarily involve questions of whether the correct taxing authorities were paid and whether the proper tax rate was applied. ISS Tax Appeals Notices of infraction were received relating to the payment of Imposto sobre Serviços (“ISS”), charged by municipalities in connection with services. The Brazilian municipalities of Itu and Cascavel claim that Banco CIT should have paid them ISS tax on leasing services for tax years 2006 - 2011. Instead, Banco CIT paid the ISS tax to Barueri, the municipality in which it is domiciled in São Paulo, Brazil. The disputed issue is whether the ISS tax should be paid to the municipality in which the leasing company is located or the municipality in which the services were rendered or the customer is located. One of the pending ISS tax matters was resolved in favor of Banco CIT in April 2014. The amounts claimed by the taxing authorities of Itu and Cascavel collectively for open tax assessments and penalties are approximately 528,000 Reais (approximately $ 170,000 ). Favorable legal precedent in a similar tax appeal has been issued by Brazil’s highest court resolving the conflict between municipalities. ICMS Tax Appeals Notices of infraction were received relating to the payment of Imposto sobre Circulaco de Mercadorias e Servicos (“ICMS”) taxes charged by states in connection with the importation of equipment. The state of São Paulo claims that Banco CIT should have paid it ICMS tax for tax years 2006-2009 because Banco CIT, the purchaser, is located in São Paulo. Instead, Banco CIT paid ICMS tax to the states of Espirito Santo, Espirito Santa Caterina, and Alagoas, where the imported equipment arrived. A regulation issued by São Paulo in December 2013 reaffirms a 2009 agreement by São Paulo to conditionally recognize ICMS tax payments made to Espirito Santo. One of the pending notices of infraction against Banco CIT related to taxes paid to Espirito Santo was extinguished in May 2014. Another assessment related to taxes paid to Espirito Santo in the amount of 66.7 million Reais ( $21.5 million) was upheld in a ruling issued by the administrative court in May 2014. That ruling has been appealed. Petitions seeking recognition of the taxes paid to Espirito Santo have been filed with respect to the pending notices of infraction. Petitions were filed in a general amnesty program regarding all but one of the assessments related to taxes paid to Santa Caterina and Alagoas. Those petitions have resulted in the extinguishment of all but one of the Santa Caterina and Alagoas assessments. The amounts claimed by São Paulo collectively for open tax assessments and penalties are approximately 73 million Reais (approximately $23.5 million) for goods imported into the state of Espirito Santo from 2006 – 2009 and the state of Alagoas in 2008. A notice of infraction was received relating to São Paulo’s challenge of the ICMS tax rate paid by Banco CIT for tax years 2004 – 2007. São Paulo alleges that Banco CIT paid a lower rate of ICMS tax on imported equipment than was required ( 8.8% instead of 18%) . Banco CIT challenged the notice of infraction and was partially successful based upon the type of equipment imported. Banco CIT has commenced a judicial proceeding challenging the unfavorable portion of the administrative ruling. The amount claimed by São Paulo for tax assessments and penalties is approximately 4 million Reais (approximately $1.3 million). The current potential aggregate exposure in taxes, fines and interest for the ISS and the ICMS tax matters is approximately 77.5 million Reais (approximately $25.0 million).

Business Segment Information

Business Segment Information	6 Months Ended
	Jun. 30, 2015
Business Segment Information [Abstract]
Business Segment Information	NOTE 1 5 — BUSINESS SEGMENT INFORMATION Management’s Policy in Identifying Reportable Segments CIT’s reportable segments are comprised of divisions that are aggregated into segments primarily based upon industry categories , geography, target markets and customers served, and , to a lesser extent, the core competencies relating to product origination, distribution methods, operations and servicing and the nature of their regulatory environment. This segment reporting is consistent with the presentation of financial information to management. Types of Products and Services TIF offers secured lending and leasing products to midsize and larger companies across the aerospace, rail and maritime industries, as well as international finance, which includes equipment financing businesses in U.K. and China. Revenues generated by TIF include rents collected on leased assets, interest on loans, fees, and gains from assets sold. NACF offers secured lending as well as other financial products and services predominately to small and midsize companies in the U.S. and Canada. These include secured revolving lines of credit and term loans, leases, accounts receivable credit protection, accounts receivable collection, import and export financing, factoring, debtor-in-possession and turnaround financing and receivable advisory services. Revenues generated by NACF include interest earned on loans, rents collected on lease d asset s, fees and other revenue from leasing activities and capital markets transactions, and commissions earned on factoring and related activities. NSP consists of portfolios that we no longer consider strategic. A t June 30, 2015 these consisted primarily of equipment financing portfolios in Mexico and Brazil, both of which were under separate contracts of sale. Segment Profit and Assets Certain activities are not attributed to operating segments and are included in Corporate & Other . Some of the more significant items include loss on debt extinguishments, costs associated with excess cash liquidity (Interest Expense), mark-to-market adjustments on non-qualifying derivatives (Other Income) and restructuring charges for severance and facilities exit activities (Operating Expenses) . Segment Pre-tax Income (Loss) (dollars in millions) Transportation & International North American Non-Strategic Corporate & Total Finance Commercial Finance Portfolios Other CIT For the quarter ended June 30, 2015 Interest income $ 69.9 $ 199.0 $ 10.2 $ 4.7 $ 283.8 Interest expense Provision for credit losses - - Rental income on operating leases - Other income Depreciation on operating lease equipment - - Maintenance and other operating lease expenses - - - Operating expenses Loss on debt extinguishments - - - Income (loss) from continuing operations before (provision) benefit for income taxes $ 156.9 $ 47.5 $ (10.4) $ (40.9) $ 153.1 For the quarter ended June 30, 2014 Interest income $ 72.2 $ 208.8 $ 25.6 $ 3.2 $ 309.8 Interest expense Provision for credit losses - Rental income on operating leases - Other income Depreciation on operating lease equipment - Maintenance and other operating lease expenses - - - Operating expenses Loss on debt extinguishments - - - Income (loss) before benefit (provision) for income taxes $ 148.2 $ 92.7 $ (9.6) $ (12.3) $ 219.0 Six Months Ended June 30, 2015 Interest income $ 138.3 $ 395.1 $ 22.5 $ 8.9 $ 564.8 Interest expense Provision for credit losses - - Rental income on operating leases - Other income Depreciation on operating lease equipment - - Maintenance and other operating lease costs - - - Operating expenses Loss on debt extinguishments - - - Income (loss) before benefit (provision) for income taxes $ 313.9 $ 83.6 $ (23.2) $ (73.6) $ 300.7 Select Period End Balances Loans - - Credit balances of factoring clients - - - Assets held for sale - Operating lease equipment, net - - Six Months Ended June 30, 2014 Interest income $ 148.9 $ 402.2 $ 54.0 $ 6.9 $ 612.0 Interest expense Provision for credit losses Rental income on operating leases - Other income Depreciation on operating lease equipment - Maintenance and other operating lease costs - - - Operating expenses Loss on debt extinguishments - - - Income (loss) before benefit (provision) for income taxes $ 265.8 $ 135.2 $ (17.6) $ (41.7) $ 341.7 Select Period End Balances Loans $ 3,228.3 $ 15,376.1 $ - $ - $ 18,604.4 Credit balances of factoring clients - - - Assets held for sale - Operating lease equipment, net -

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2015
Subsequent Events [Abstract]
Subsequent Events	NOTE 16 — SUBSEQUENT EVENT S OneWest Bank Acquisition During July 2015, the FRB and OCC approved CIT’s application to acquire IMB Holdco LLC, the parent company of OneWest Bank, N.A. (“OneWest Bank”), and the transaction closed on August 3, 2015 (the “OneWest Transaction”) . CIT paid approximately $3.4 billion as consideration , comprised of approximately $1.9 billion in cash p roceeds approximately 30.9 million shares of CIT Group Inc. common stock (valued at approximately $1.5 billion at the time of closing), and approximately 168,000 restricted stock units of CIT (valued at approximately $8 million at the time of closing). Total consideration also included $116 million of cash retained by CIT as a holdback for certain potential liabilities relating to IMB and $2 million of cash for expenses of the holders’ representative. Based on OneWest Bank’s Call Report as of June 30, 2015, OneWest Bank’s total assets were in excess of $21 billion and deposits were over $14 billion. Following the close of the OneWest Transaction, CIT Bank, CIT’s banking subsidiary, merged with and into OneWest Bank and changed its name to the “CIT Bank, National Association” (“CIT Bank, N.A.”). CIT Bank, N.A., a wholly-owned subsidiary of CIT, is regulated by the Office of the Comptroller of the Currency, U.S. Department of the Treasury (“OCC”). The acquisition will be accounted for as a business combination, subject to the provisions of ASC 805-10-50, Business Combinations. Due to the timing of the acquisition, CIT is currently in the process of completing the purchase accounting and has not made all of the remaining disclosures required by ASC 805-10-50, such as the fair value of assets acquired and supplemental pro forma information, which will be disclosed in subsequent filings. Due to the timing of the transaction, balances and results of operations of OneWest Bank are not included in CIT’s reported financial results in this Form 10-Q as of or for the quarter and six months ended June 30, 2015, nor is any amount included in the Litigation estimate of reasonably possible losses. Sale of Mexico Business We received regulatory approval and sold the Mexico business, which included approximately $0.2 billion of assets held for sale, in August 2015. In conjunction with the closing of the transaction, we do not anticipate any gain on sale and CTA related to the Mexico portfolio, currently pre-tax of $19 million at June 30, 2015, recorded in accumulated other comprehensive loss within stockholders’ equity, will be recognized as a reduction to income, with the pre-tax amount decreasing other income and the tax effect in the provision for income taxes.

Business And Summary Of Signi24

Business And Summary Of Significant Accounting Policies (Policy)	6 Months Ended
	Jun. 30, 2015
Business And Summary Of Significant Accounting Policies [Abstract]
Principles Of Consolidation	Principles of Consolidation The accompanying consolidated financial statements include financial information related to CIT Group Inc. and its majority-owned subsidiaries and those variable interest entities (“VIEs”) where the Company is the primary beneficiary. In preparing the consolidated financial statements, all significant inter-company accounts and transactions have been eliminated. Assets held in an agency or fiduciary capacity are not included in the consolidated financial statements. These consolidated financial statements have been prepared in accordance with the instructions to Form 10-Q for interim financial information and accordingly, do not include all information and note disclosures required by generally accepted accounting principles in the United States of America (“GAAP”) for complete financial statements. The financial statements in this Form 10-Q in the opinion of management include all adjustments, consisting only of normal recurring adjustments, necessary for a fair presentation of CIT’s financial position, results of operations and cash flows in accordance with GAAP. These consolidated financial statements should be read in conjunction with our current Form 10-K on file. The accounting and financial reporting policies of CIT Group Inc. conform to GAAP and the preparation of the consolidated financial statements requires management to make estimates and assumptions that affect reported amounts and disclosures. Actual results could differ from those estimates and assumptions. Some of the more significant estimates include: allowance for loan losses, loan impairment, fair value determination, lease residual values, liabilities for uncertain tax positions, realizability of deferred tax assets and goodwill assets. Additionally where applicable, the policies conform to accounting and reporting guidelines prescribed by bank regulatory authorities. Discontinued Operation On April 25, 2014, the Company completed the sale of its student lending business. As a result, the student lending business is reported as a discontinued operation for all periods. The business had been included in the Non-Strategic Portfolios segment and consisted of a portfolio of U.S. Government-guaranteed student loans. The portfolio was in run-off and had been transferred to assets held for sale (“AHFS”) at the end of 2013. See Note 2 – Discontinued Operation . Revision In preparing the financial statements for the quarter ended March 31, 2015, the Company discovered and corrected an immaterial error impacting the disclosure of unearned income in the amount of approximately $170 million as of December 31, 2014.
New Accounting Pronouncements	NEW ACCOUNTING PRONOUNCEMENTS Customer’s Accounting for Fees Paid in a Cloud Computing Arrangement The FASB issued an amendment to U.S. GAAP on April 15, 2015, to explain how businesses and other organizations should account for the fees for purchasing cloud computing services. The changes in Accounting Standards Update (“ASU”) No. 2015-05, Intangibles: Goodwill and Other: Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Fees Paid in a Cloud Computing Arrangement , add to the guidance for intangible assets to help businesses and other organizations determine whether a cloud computing agreement includes a software license or should be considered as a service agreement. The amendments to FASB ASC 350-40, Intangibles: Goodwill and Other: Internal-Use Software: Scope and Scope Exceptions, formerly AICPA Statement of Position (“SOP”) No. 98-1, state that the portion of a cloud computing agreement that includes a software license should be accounted for in a manner that is consistent with other software licenses. An arrangement that does not include a software license should be accounted for as a service contract. Public companies have to apply the amendment for fiscal years that start after December 15, 2015. Companies will have to apply the changes in their first-quarter reports for 2016, but can elect to early adopt ahead of the effective date. CIT is currently evaluating the impact of adopting this amendment . Debt Issuance Costs On April 7, 2015, the FASB issued ASU 2015-03, Simplifying the Presentation of Debt Issuance Costs , which requires debt issuance costs to be presented in the balance sheet as a direct deduction from the carrying value of the associated debt liability, consistent with the presentation of a debt discount. Debt issuance costs are specific incremental costs, other than those paid to the lender, that are directly attributable to issuing a debt instrument (i.e., third party costs). Prior to the issuance of the standard, debt issuance costs were required to be presented in the balance sheet as a deferred charge (i.e., an asset). For public business entities, the standard is effective for financial statements issued for fiscal years beginning after December 15, 2015, and interim periods within those fiscal years. The new guidance will be applied on a retrospective basis. The adoption of this guidance is not expected to have a significant impact on CIT’s financial statements or disclosures. Amendments to the Consolidation Analysis The FASB issued ASU 2015-02, Amendments to the Consolidation Analysis , in February 2015 to improve targeted areas of the consolidation standard and reduce the number of consolidation models. The new guidance changes the way reporting enterprises evaluate whether (a) they should consolidate limited partnerships and similar entities, (b) fees paid to a decision maker or service provider are variable interests in a variable interest entity (“VIE”), and (c) variable interests in a VIE held by related parties of the reporting enterprise require the reporting enterprise to consolidate the VIE. It also eliminates the VIE consolidation model based on majority exposure to variability that applied to certain investment companies and similar entities. The Board changed the way the voting rights characteristic in the VIE scope determination is evaluated for corporations, which may significantly impact entities for which decision making rights are conveyed though a contractual arrangement. Under ASU 2015-02: · More limited partnerships and similar entities will be evaluated for consolidation under the revised consolidation requirements that apply to VIEs. · Fees paid to a decision maker or service provider are less likely to be considered a variable interest in a VIE. · Variable interests in a VIE held by related parties of a reporting enterprise are less likely to require the reporting enterprise to consolidate the VIE. · There is a new approach for determining whether equity at-risk holders of entities that are not similar to limited partnerships have power to direct the entity’s key activities when the entity has an outsourced manager whose fee is a variable interest. · The deferral of consolidation requirements for certain investment companies and similar entities of the VIE in ASU 2009-17 is eliminated. The anticipated impacts of the new update include: · A new consolidation analysis is required for VIEs, including many limited partnerships and similar entities that previously were not considered VIEs. · It is less likely that the general partner or managing member of limited partnerships and similar entities will be required to consolidate the entity when the other investors in the entity lack both participating rights and kick-out rights. · Limited partnerships and similar entities that are not VIEs will not be consolidated by the general partner. · It is less likely that decision makers or service providers involved with a VIE will be required to consolidate the VIE. · Entities for which decision making rights are conveyed through a contractual arrangement are less likely to be considered VIEs. · Reporting enterprises with interests in certain investment companies and similar entities that are considered VIEs will no longer evaluate those entities for consolidation based on majority exposure to variability. The guidance is effective for public business entities for annual and interim periods in fiscal years beginning after December 15, 2015 (i.e. January 1, 2016). Early adoption is allowed, including early adoption in an interim period. A reporting enterprise is permitted to apply either a modified retrospective approach or full retrospective application. CIT is currently evaluating the impact of adopting this ASU. Extraordinary and Unusual Items The FASB issued ASU No. 2015-01, Extraordinary and Unusual Items , in January 2015 as part of FASB’s simplification initiative, which eliminates the concept of extraordinary item and the need for entities to evaluate whether transactions or events are both unusual in nature and infrequently occurring. The ASU precludes (1) segregating an extraordinary item from the results of ordinary operations; (2) presenting separately an extraordinary item on the income statement, net of tax, after income from continuing operations; and (3) disclosing income taxes and earnings-per-share data applicable to an extraordinary item. However, the ASU does not affect the reporting and disclosure requirements for an event or transaction that is unusual in nature or that occurs infrequently. So, although the Company will no longer need to determine whether a transaction or event is both unusual in nature and infrequently occurring, CIT will still need to assess whether items are unusual in nature or infrequent to determine if the additional presentation and disclosure requirements for these items apply. For all entities, ASU 2015-01 is effective for annual periods beginning after December 15, 2015 and interim periods within those annual periods. Adoption of this guidance is not expected to have a significant impact on CIT’s financial statements or disclosures. Revenue Recognition The FASB issued ASU No. 2014-09 - Revenue from Contracts with Customers , in June 2014 which will supersede virtually all of the revenue recognition guidance in GAAP, except as it relates to lease accounting. The core principle of the five-step model is that a company will recognize revenue when it transfers control of goods or services to customers at an amount that reflects the consideration to which it expects to be entitled in exchange for those goods or services. In doing so, many companies will have to make more estimates and use more judgment than they do under current GAAP. The five-step analysis of transactions, to determine when and how revenue is recognized, includes: 1. Identify the contract with the customer. 2. Identify the performance obligations in the contract. 3. Determine the transaction price. 4. Allocate the transaction price to the performance obligations. 5. Recognize revenue when or as each performance obligation is satisfied. Companies can choose to apply the standard using either the full retrospective approach or a modified retrospective approach. Under the modified approach, financial statements will be prepared for the year of adoption using the new standard, but prior periods will not be adjusted. Instead, companies will recognize a cumulative catch-up adjustment to the opening balance of retained earnings at the effective date for contracts that still require performance by the company and disclose all line items in the year of adoption as if they were prepared under today’s revenue guidance. In July 2015, t he FASB voted to defer the effective date one year for annual reporting periods beginning after December 15, 201 7, including interim reporting periods within that reporting period. Public companies that choose full retrospective application will need to apply the standard to amounts they report for 201 6 and 201 7 on the face of their full year 201 8 financial statements. CIT is required to adopt the ASU and is currently reviewing the impact of adoption and has not determined the effect of the standard on its ongoing financial reporting. Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period The FASB issued ASU No. 2014-12, Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period , in June 2014. The ASU directs that a performance target that affects vesting and can be achieved after the requisite service period is a performance condition. That is, compensation cost would be recognized over the required service period if it is probable that the performance condition would be achieved. The total amount of compensation cost recognized during and after the requisite service period would reflect the number of awards that are expected to vest and would be adjusted to reflect those awards that ultimately vest. The ASU does not require additional disclosures. Entities may apply the amendments in this update either (a) prospectively to all awards granted or modified after the effective date or (b) retrospectively to all awards with performance targets that are outstanding as of the beginning of the earliest annual period presented in the financial statements and to all new or modified awards thereafter. If retrospective transition is adopted, the cumulative effect of applying this ASU as of the beginning of the earliest annual period presented in the financial statements should be recognized as an adjustment to the opening retained earnings balance at that date. Additionally, if retrospective transition is adopted, an entity may use hindsight in measuring and recognizing the compensation cost. The ASU is effective for annual periods beginning after December 15, 2015 and interim periods within those years. Early adoption is permitted. CIT is currently evaluating the impact of adopting this ASU and is reviewing existing awards for applicability. Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern The FASB issued ASU 2014-15, Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern, in August 2014. This ASU describes how entities should assess their ability to meet their obligations and sets disclosure requirements about how this information should be communicated. The standard will be used along with existing auditing standards, and provides the following key guidance: 1. Entities must perform a going concern assessment by evaluating their ability to meet their obligations for a look-forward period of one year from the financial statement issuance date (or date the financial statements are available to be issued). 2. Disclosures are required if it is probable an entity will be unable to meet its obligations within the look-forward period. Incremental substantial doubt disclosure is required if the probability is not mitigated by management’s plans. 3. Pursuant to the ASU, substantial doubt about an entity’s ability to continue as a going concern exists if it is probable that the entity will be unable to meet its obligations as they become due within one year after the date the annual or interim financial statements are issued or available to be issued (assessment date). The new standard applies to all entities for the first annual period ending after December 15, 2016. Company management is responsible for assessing going concern uncertainties at each annual and interim reporting period thereafter. The adoption of this guidance is not expected to have a significant impact on CIT’s financial statements or disclosures.

Discontinued Operation (Tables)

Discontinued Operation (Tables)	6 Months Ended
	Jun. 30, 2015
Discontinued Operation [Abstract]
Assets, Liabilities And Operating Results Of Discontinued Operation	Operating Results of Discontinued Operation (dollars in millions) Quarter Ended June 30, 2014 Six Months Ended June 30, 2014 Interest income $ 5.8 $ 27.0 Interest expense Other income Operating expenses Income from discontinued operation before provision for income taxes Provision for income taxes Income from discontinued operation, net of taxes Gain on sale of discontinued operation Income from discontinued operation, net of taxes $ 51.7 $ 54.0

Loans (Tables)

Loans (Tables)	6 Months Ended
	Jun. 30, 2015
Loans [Abstract]
Schedule Of Finance Receivables	Finance Receivables by Product (dollars in millions) June 30, December 31, 2015 2014 Loans $ 14,508.9 $ 14,398.2 Direct financing leases and leveraged leases Finance receivables Finance receivables held for sale Finance receivables and held for sale receivables (1) $ 20,448.2 $ 20,274.9 (1) Assets held for sale on the Balance Sheet includes finance receivables and operating lease equipment. As discussed in subsequent tables, since the Company manages the credit risk and collections of finance receivables held for sale consistently with its finance receivables held for investment, the aggregate amount is presented in this table.
Schedule Of Finance Receivables By Segment, Based On Obligor Location	June 30, 2015 December 31, 2014 Domestic Foreign Total Domestic Foreign Total Transportation & International Finance $ 769.6 $ 2,947.5 $ 3,717.1 $ 812.6 $ 2,746.3 $ 3,558.9 North American Commercial Finance Non-Strategic Portfolios - - - - Total $ 15,529.8 $ 4,119.5 $ 19,649.3 $ 15,457.7 $ 4,037.3 $ 19,495.0
Components Of Net Investment In Finance Receivables	Components of Net Investment in Finance Receivables (dollars in millions) June 30, December 31, 2015 2014 Unearned income $ (1,056.0) $ (1,037.8) Unamortized premiums/(discounts) Net unamortized deferred costs and (fees)
Finance And Held-For-Sale Receivables - By Risk Rating	Finance and Held for Sale Receivables — by Risk Rating (dollars in millions) Transportation & International Finance North American Commercial Finance Grade: Transportation Finance International Finance Corporate Finance Equipment Finance Real Estate Finance Commercial Services Subtotal Non-Strategic Portfolios Total June 30, 2015 Pass $ 2,923.5 $ 784.7 $ 6,127.8 $ 4,284.9 $ 1,897.9 $ 1,809.4 $ 17,828.2 $ 204.8 $ 18,033.0 Special mention Classified - accruing - Classified - non-accrual - - Total $ 3,195.1 $ 976.5 $ 7,066.5 $ 4,810.8 $ 1,941.4 $ 2,201.8 $ 20,192.1 $ 256.1 $ 20,448.2 December 31, 2014 Pass $ 2,895.9 $ 820.2 $ 6,199.0 $ 4,129.1 $ 1,692.0 $ 2,084.1 $ 17,820.3 $ 288.7 $ 18,109.0 Special mention Classified - accruing - Classified - non-accrual - - Total $ 2,952.9 $ 1,023.2 $ 6,912.7 $ 4,717.3 $ 1,768.6 $ 2,560.2 $ 19,934.9 $ 340.0 $ 20,274.9
Finance And Held For Sale Receivables - Delinquency Status	Finance and Held for Sale Receivables — Delinquency Status (dollars in millions) Total Past 30–59 Days 60–89 Days 90 Days or Due 30 Days or Total Finance Past Due Past Due Greater Greater Current Receivables June 30, 2015 Transportation Finance $ 3.6 $ 2.7 $ 7.9 $ 14.2 $ 3,180.9 $ 3,195.1 International Finance Corporate Finance - - Equipment Finance Real Estate Finance - - - - Commercial Services Sub-total Non-Strategic Portfolios Total $ 143.7 $ 57.8 $ 93.6 $ 295.1 $ 20,153.1 $ 20,448.2 December 31, 2014 Transportation Finance $ 5.2 $ 1.9 $ 4.3 $ 11.4 $ 2,941.5 $ 2,952.9 International Finance Corporate Finance - Equipment Finance Real Estate Finance - - - - Commercial Services Sub-total Non-Strategic Portfolios Total $ 225.8 $ 52.0 $ 51.8 $ 329.6 $ 19,945.3 $ 20,274.9
Finance Receivables On Non-accrual Status	Finance Receivables on Non- A ccrual Status (dollars in millions) June 30, 2015 December 31, 2014 Held for Investment Held for Sale Total Held for Investment Held for Sale Total Transportation Finance - $ 0.1 $ - $ 0.1 International Finance Corporate Finance - Equipment Finance - Sub-total Non-Strategic Portfolios - - Total $ 123.4 $ 37.1 $ 160.5 Repossessed assets Total non-performing assets $ 161.3 Total Accruing loans past due 90 days or more $ 10.3
Impaired Loans	Impaired Loans (dollars in millions) Six Months Ended June 30, June 30, 2015 2015 2014 Unpaid Average Average Recorded Principal Related Recorded Recorded Investment Balance Allowance Investment Investment With no related allowance recorded: International Finance $ 7.7 $ 11.0 $ - $ 8.7 $ 8.5 Corporate Finance - Equipment Finance - Commercial Services - Non-Strategic Portfolios - - - - With an allowance recorded: Transportation Finance International Finance Corporate Finance Equipment Finance Commercial Services - - - - Total Impaired Loans (1) Total Loans Impaired at Convenience Date (2) - - Total $ 79.6 $ 115.5 $ 17.5 $ 68.5 $ 269.8 Year Ended December 31, 2014 December 31, 2014 Unpaid Average Recorded Principal Related Recorded Investment Balance Allowance Investment With no related allowance recorded: International Finance $ 10.2 $ 17.0 $ - $ 10.1 Corporate Finance - Equipment Finance - Commercial Services - Non-Strategic Portfolios - - - With an allowance recorded: Transportation Finance - - - International Finance Corporate Finance Equipment Finance - - - Commercial Services - - - Total Impaired Loans (1) Total Loans Impaired at Convenience date (2) Total $ 58.0 $ 85.3 $ 12.9 $ 217.0 (1) Interest income recorded for the six months ended June 30, 2015 and 201 4 while the loans were impaired was $0.6 million and $ 6.2 million, respectively, of which $0 and $ 0.8 million was interest recognized using the cash-basis method of accounting. Interest income recorded for the year ended December 31, 2014 while the loans were impaired was $10.1 million, of which $ 0.7 million was interest recognized using the cash-basis method of accounting. (2) Details of finance receivables that were identified as impaired at the Convenience Date are presented under Loans and Debt Securities Acquired with Deteriorated Credit Quality.

Allowance For Loan Losses (Tabl

Allowance For Loan Losses (Tables)	6 Months Ended
	Jun. 30, 2015
Allowance For Loan Losses [Abstract]
Schedule Of Allowance For Loan Losses And Recorded Investment In Finance Receivables	Allowance for Loan Losses and Recorded Investment in Finance Receivables (dollars in millions) Transportation & International Finance North American Commercial Finance Non-Strategic Portfolios Corporate and Other Total Beginning balance - March 31, 2015 $ 55.5 $ 301.0 $ - $ - $ 356.5 Provision for credit losses Other (1) Gross charge-offs (2) Recoveries Allowance balance - June 30, 2015 $ 58.0 $ 292.9 $ - $ - $ 350.9 Beginning balance - March 31, 2014 $ 45.7 $ 306.9 $ - $ - $ 352.6 Provision for credit losses - Other (1) - - Gross charge-offs (2) - - Recoveries - Allowance balance - June 30, 2014 $ 39.7 $ 301.3 $ - $ - $ 341.0 Beginning balance - December 31, 2014 $ 46.8 $ 299.6 $ - $ - $ 346.4 Provision for credit losses Other (1) Gross charge-offs (2) Recoveries Allowance balance - June 30, 2015 Beginning balance - December 31, 2013 $ 46.7 $ 303.8 $ 5.6 $ - $ 356.1 Provision for credit losses Other (1) - Gross charge-offs (2) Recoveries Allowance balance - June 30, 2014 $ 39.7 $ 301.3 $ - $ - $ 341.0 Transportation & International Finance North American Commercial Finance Non-Strategic Portfolios Corporate and Other Total Allowance balance: At June 30, 2015 Loans individually evaluated for impairment $ 5.9 $ 11.6 $ - $ - $ 17.5 Loans collectively evaluated for impairment - - Loans acquired with deteriorated credit quality (3) - - - - - Allowance balance $ 58.0 $ 292.9 $ - $ - $ 350.9 Other reserves (1) $ 0.2 $ 37.8 $ - $ - $ 38.0 At June 30, 2014 Loans individually evaluated for impairment - - Loans collectively evaluated for impairment - - Loans acquired with deteriorated credit quality (3) - - - Allowance balance $ 39.7 $ 301.3 $ - $ - $ 341.0 Other reserves (1) $ 0.5 $ 30.9 $ - $ - $ 31.4 Finance receivables: At June 30, 2015 Loans individually evaluated for impairment $ 34.6 $ 45.0 $ - $ - $ 79.6 Loans collectively evaluated for impairment - - Loans acquired with deteriorated credit quality (3) - - - - - Ending balance $ 3,717.1 $ 15,932.2 $ - $ - $ 19,649.3 Percent of loans to total loans At June 30, 2014 Loans individually evaluated for impairment $ 31.1 $ 192.2 $ - $ - $ 223.3 Loans collectively evaluated for impairment - - Loans acquired with deteriorated credit quality (3) - - Ending balance $ 3,228.3 $ 15,376.1 $ - $ - $ 18,604.4 Percent of loans to total loans (1) “Other reserves” represents additional credit loss reserves for unfunded lending commitments, letters of credit and for deferred purchase agreements, all of which is recorded in Other liabilities. “Other” also includes changes relating to sales and foreign currency translations. (2) Gross charge-offs include $ 5 million charged directly to the Allowance for loan losses for both the quarter and six months ended June 30, 2015, related to North American Commercial Finance. Gross charge- offs include $3 million and $9 million charged directly to the Allowance for loan losses for the quarter and six months ended June 30, 2014, respectively, related to North American Commercial Finance. (3) Represents loans considered impaired in FSA and are accounted for under the guidance in ASC 310-30 (Loans and Debt Securities Acquired with Deteriorated Credit Quality).

Investment Securities (Tables)

Investment Securities (Tables)	6 Months Ended
	Jun. 30, 2015
Investment Securities [Abstract]
Schedule Of Investment Securities	June 30, December 31, 2015 2014 Debt securities available-for-sale $ 1,300.6 $ 1,116.5 Equity securities available-for-sale Debt securities held-to-maturity (1) Non-marketable equity investments (2) Total investment securities $ 1,692.9 $ 1,550.3 (1) Recorded at amortized cost less impairment on securities that have credit-related impairment. (2) Non-marketable equity investments include ownership interests greater than 3% in limited partnership investments that are accounted for under the equity method . Non-marketable equity investments include $ 18.4 million and $ 19.7 million in limited partnerships at June 30, 2015 and December 31, 2014, respectively, accounted for under the equity method. The remaining investments are carried at cost and include qualified Community Reinvestment Act (“CRA”) investments, equity fund holdings and shares issued by customers during loan work out situations or as part of an original loan investment.
Schedule Of Interest And Dividends On Investments	Quarters Ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 Interest income - interest bearing deposits $ 3.4 $ 4.5 $ 7.4 $ 9.1 Interest income - investments / reverse repos Dividends - investments Interest and dividends on interest bearing deposits and investments $ 9.0 $ 8.4 $ 17.6 $ 17.2
Amortized Cost And Fair Value Of Securities Available-For-Sale	Gross Gross Amortized Unrealized Unrealized Fair June 30, 2015 Cost Gains Losses Value Debt securities AFS U.S. Treasury securities $ 600.0 $ - $ (0.0) $ 600.0 U.S. government agency obligations - Supranational and foreign government securities - Total debt securities AFS Equity securities AFS Total securities AFS $ 1,314.6 $ 0.4 $ (0.1) $ 1,314.9 December 31, 2014 Debt securities AFS U.S. Treasury securities $ 200.0 $ - $ - $ 200.0 U.S. government agency obligations - - Foreign government securities - - Total debt securities AFS - - Equity securities AFS Total securities AFS $ 1,130.5 $ 0.6 $ (0.6) $ 1,130.5
Securities AFS - Amortized Cost And Fair Value Maturities	Securities AFS - Amortized Cost and Fair Value Maturities (dollars in millions) June 30, 2015 December 31, 2014 Amortized Fair Amortized Fair Cost Value Cost Value U.S. Treasury securities Due within 1 year $ 600.0 $ 600.0 $ 200.0 $ 200.0 Total U.S. government agency obligations Due within 1 year $ 100.0 $ 100.0 $ 904.2 $ 904.2 After 1 but within 5 years - - Total Supranational and foreign government securities Due within 1 year Total Total debt securities available-for-sale $ 1,300.3 $ 1,300.6 $ 1,116.5 $ 1,116.5
Carrying Value And Fair Value Of Securities Held-To-Maturity	Gross Gross Carrying Unrealized Unrealized Fair Value Gains Losses Value June 30, 2015 Mortgage-backed securities - U.S. government owned and sponsored agencies $ 161.1 $ 1.5 $ (3.5) $ 159.1 State and municipal Foreign government - Corporate - foreign - Total debt securities held-to-maturity $ 319.9 $ 8.7 $ (4.3) $ 324.3 December 31, 2014 Mortgage-backed securities - U.S. government owned and sponsored agencies $ 156.3 $ 2.5 $ (1.9) $ 156.9 State and municipal Foreign government - Corporate - foreign - Total debt securities held-to-maturity $ 352.3 $ 11.7 $ (3.7) $ 360.3
Amortized Cost And Fair Value Of Debt Securities Held-To-Maturity By Contractual Maturity Dates	June 30, 2015 December 31, 2014 Amortized Fair Amortized Fair Cost Value Cost Value Mortgage-backed securities - U.S. government owned and sponsored agencies Due after 5 but within 10 years $ 1.3 $ 1.3 $ 1.3 $ 1.3 Due after 10 years (1) Total State and municipal Due within 1 year Due after 1 but within 5 years Due after 10 years (1) Total Foreign government Due within 1 year Due after 1 but within 5 years Total Corporate - Foreign Due within 1 year Due after 1 but within 5 years After 5 but within 10 years Total Total debt securities held-to-maturity $ 319.9 $ 324.3 $ 352.3 $ 360.3

Long-Term Borrowings (Tables)

Long-Term Borrowings (Tables)	6 Months Ended
	Jun. 30, 2015
Long-Term Borrowings [Abstract]
Schedule Of Outstanding Long-Term Borrowings	June 30, 2015 December 31, 2014 CIT Group Inc. Subsidiaries Total Total Senior Unsecured (1) $ 10,732.8 $ - $ 10,732.8 $ 11,932.4 Secured borrowings - Total Long-term Borrowings $ 10,732.8 $ 5,708.8 $ 16,441.6 $ 18,455.8 (1) Senior Unsecured Notes at June 30, 2015 were comprised of $ 8,243.8 million of Unsecured Notes , $ 2,450.0 million of Series C Notes and $ 39.0 million of other unsecured debt. Unsecure d Borrowings
Schedule Of Senior Unsecured Notes	Senior Unsecured Notes (dollars in millions) Maturity Date Rate (%) Date of Issuance Par Value May 2017 May 2012 August 2017 August 2012 March 2018 March 2012 April 2018* March 2011 February 2019* February 2012 February 2019 February 2014 May 2020 May 2012 August 2022 August 2012 August 2023 August 2013 Weighted average rate and total $ 10,700.0 * Series C Unsecured Notes
Schedule Of Secured Borrowings And Pledged Assets	Secured Borrowings and Pledged Assets Summary (1) (dollars in millions) June 30, 2015 December 31, 2014 Secured Borrowing Pledged Assets Secured Borrowing Pledged Assets Rail (2) $ 1,109.2 $ 1,512.9 $ 1,179.7 $ 1,575.7 Aerospace (2) International Finance Subtotal - Transportation & International Finance Corporate Finance Real Estate Finance - - Commercial Services Equipment Finance Subtotal - North American Commercial Finance Total $ 5,708.8 $ 9,444.6 $ 6,523.4 $ 10,527.7 (1) As part of our liquidity management strategy, we pledge assets to secure financing transactions (which include securitizations), borrowings from the FHLB and FRB, and for other purposes as required or permitted by law. (2) At June 30, 2015 the GSI TRS related borrowings and pledged assets, respectively, of $1.2 billion and $1.8 billion were included in TIF. The GSI TRS is described in Note 8 – Derivative Financial Instruments.

Derivative Financial Instrume30

Derivative Financial Instruments (Tables)	6 Months Ended
	Jun. 30, 2015
Derivative Financial Instruments [Abstract]
Fair And Notional Values Of Derivative Financial Instruments	June 30, 2015 December 31, 2014 Notional Asset Fair Liability Notional Asset Fair Liability Qualifying Hedges Amount Value Fair Value Amount Value Fair Value Foreign currency forward contracts – net investment hedges $ 955.1 $ 41.0 $ (7.1) $ 1,193.1 $ 74.7 $ - Total Qualifying Hedges $ 955.1 $ 41.0 $ (7.1) $ 1,193.1 $ 74.7 $ - Non-Qualifying Hedges Interest rate swaps Written options - - Purchased options - - Foreign currency forward contracts Total Return Swap (TRS) - - Equity Warrants - - Total Non-qualifying Hedges Total Hedges $ 10,182.6 $ 101.5 $ (88.1) $ 9,876.7 $ 168.0 $ (62.3) (1) Presented on a gross basis
Offsetting Of Derivative Assets And Liabilities	Offsetting of Derivative Assets and Liabilities (dollars in millions) Gross Amounts not offset in the Consolidated Balance Sheet Gross Amount of Recognized Assets (Liabilities) Gross Amount Offset in the Consolidated Balance Sheet Net Amount Presented in the Consolidated Balance Sheet Derivative Financial Instruments (1) Cash Collateral Pledged/(Received) (1)(2) Net Amount June 30, 2015 Derivative assets $ 101.5 $ - $ 101.5 $ (34.5) $ (46.0) $ 21.0 Derivative liabilities - December 31, 2014 Derivative assets $ 168.0 $ - $ 168.0 $ (13.6) $ (137.3) $ 17.1 Derivative liabilities - ( 1 ) The Company’s derivative transactions are governed by ISDA agreements that allow for net settlements of certain payments as well as offsetting of all contracts (“Derivative Financial Instruments”) with a given counterparty in the event of bankruptcy or default of one of the two parties to the transaction. We believe our ISDA agreement s meet the definition of a master netting arrangement or similar agreement for purposes of the above disclosure. In conjunction with the ISDA agreement s, the Company has entered into collateral arrangements with its counterparties which provide for the exchange of cash depending on the change in the market valuation of the derivative contracts outstanding. Such collateral is available to be applied in settlement of the net balances upon an event of default by one of the counterparties . ( 2 ) Collateral pl edged or received is included in O ther assets or O ther liabilities, respectively.
Derivative Instrument Gains And Losses	. Derivative Instrument Gains and Losses (dollars in millions) Quarters Ended June 30, Six Months Ended June 30, Derivative Instruments Gain / (Loss) Recognized 2015 2014 2015 2014 Qualifying Hedges $ - $ - $ - $ - Non Qualifying Hedges Cross currency swaps Other income - - Interest rate swaps Other income - Interest rate options Other income Foreign currency forward contracts Other income Equity warrants Other income TRS Other income Total Non-qualifying Hedges Total derivatives-income statement impact $ (46.0) $ (32.6) $ 3.4
Changes In AOCI Relating To Derivatives	Changes in AOCI Relating to Derivatives (dollars in millions) Contract Type Derivatives - effective portion reclassified from AOCI to income Hedge ineffectiveness recorded directly in income Total income statement impact Derivatives - effective portion recorded in OCI Total change in OCI for period Quarter Ended June 30, 2015 Foreign currency forward contracts - net investment hedges $ - $ - $ - $ (21.5) $ (21.5) Total $ - $ - $ - $ (21.5) $ (21.5) Quarter Ended June 30, 2014 Foreign currency forward contracts - net investment hedges - Cross currency swaps - net investment hedges - - - Total $ (3.0) $ - $ (3.0) $ (23.7) $ (20.7) Six Months Ended June 30, 2015 Foreign currency forward contracts - net investment hedges - Total $ 4.2 $ - $ 4.2 $ 62.3 $ 58.1 Six Months Ended June 30, 2014 Foreign currency forward contracts - cash flow hedges $ - $ - $ - $ (0.1) $ (0.1) Foreign currency forward contracts - net investment hedges - Cross currency swaps - net investment hedges - - - Total $ (6.1) $ - $ (6.1) $ (17.5) $ (11.4)

Fair Value (Tables)

Fair Value (Tables)	6 Months Ended
	Jun. 30, 2015
Fair Value [Abstract]
Assets And Liabilities Measured At Fair Value On A Recurring Basis	June 30, 2015 Total Level 1 Level 2 Level 3 Assets Debt Securities AFS $ 1,300.6 $ 600.5 $ 700.1 $ - Equity Securities AFS - - Derivative assets at fair value -non-qualifying hedges - - Derivative assets at fair value - qualifying hedges - - Total $ 1,416.4 $ 614.8 $ 801.6 $ - Liabilities Derivative liabilities at fair value - non-qualifying hedges - Derivative liabilities at fair value - qualifying hedges - - Total $ (88.1) $ - $ (54.1) $ (34.0) December 31, 2014 Assets Debt Securities AFS $ 1,116.5 $ 212.3 $ 904.2 $ - Equity Securities AFS - - Derivative assets at fair value -non-qualifying hedges - - Derivative assets at fair value - qualifying hedges - - Total $ 1,298.5 $ 226.3 $ 1,072.2 $ - Liabilities Derivative liabilities at fair value - non-qualifying hedges $ (62.3) $ - $ (35.7) $ (26.6) Total $ (62.3) $ - $ (35.7) $ (26.6)
Assets Measured At Fair Value On A Non-Recurring Basis	Fair Value Measurements at Reporting Date Using: Total Level 1 Level 2 Level 3 Total Gains and (Losses) Assets June 30, 2015 Assets held for sale $ 388.7 $ - $ - $ 388.7 $ (21.5) Impaired loans - - Total $ 438.3 $ - $ - $ 438.3 $ (46.6) December 31, 2014 Assets held for sale $ 949.6 $ - $ - $ 949.6 $ (73.6) Impaired loans - - Total $ 962.8 $ - $ - $ 962.8 $ (78.5)
Changes In The Estimated Fair Value Of The Financial Assets And Liabilities Measured On A Recurring Basis	Total (all derivatives) December 31, 2014 $ (26.6) Gains or losses realized/unrealized included in Other Income (1) June 30, 2015 $ (34.0) December 31, 2013 $ (9.7) Gains or losses realized/unrealized included in Other Income (1) $ 9.7 June 30, 2014 $ -
Carrying And Estimated Fair Values Of Financial Instruments	Estimated Fair Value Carrying June 30, 2015 Value Level 1 Level 2 Level 3 Total Financial Assets Derivative assets at fair value - non-qualifying hedges $ 60.5 $ - $ 60.5 $ - $ 60.5 Derivative assets at fair value - qualifying hedges - - Assets held for sale (excluding leases) - Loans (excluding leases) - Securities purchased under agreements to resell - Investment securities Other assets subject to fair value disclosure and unsecured counterparty receivables (1) - - Financial Liabilities Deposits (2) - - Derivative liabilities at fair value - non-qualifying hedges - Derivative liabilities at fair value - qualifying hedges - - Long-term borrowings (2) - Credit balances of factoring clients - - Other liabilities subject to fair value disclosure (3) - - December 31, 2014 Financial Assets Derivative assets at fair value - non-qualifying hedges $ 93.3 $ - $ 93.3 $ - $ 93.3 Derivative assets at fair value - qualifying hedges - - Assets held for sale (excluding leases) - - Loans (excluding leases) - Securities purchased under agreements to resell - - Investment securities Other assets subject to fair value disclosure and unsecured counterparty receivables (1) - - Financial Liabilities Deposits (2) - - Derivative liabilities at fair value - non-qualifying hedges - Long-term borrowings (2) - Credit balances of factoring clients - - Other liabilities subject to fair value disclosure (3) - - (1) Other assets subject to fair value disclosure primarily include accrued interest receivable and miscellaneous receivables. These assets have carrying values that approximate fair value generally due to the short-term nature and are classified as level 3. The unsecured counterparty receivables primarily consist of amounts owed to CIT from GSI for debt discount, return of collateral posted to GSI and settlements resulting from market value changes to asset-backed securities underlying the GSI Facilities (2) Deposits and long-term borrowings include accrued interest, which is included in "Other liabilities" in the Balance Sheet. (3) Other liabilities subject to fair value disclosure include accounts payable, accrued liabilities, customer security and maintenance deposits and miscellaneous liabilities. The fair value of these approximate carrying value and are classified as level 3.

Regulatory Capital (Tables)

Regulatory Capital (Tables)	6 Months Ended
	Jun. 30, 2015
Regulatory Capital [Abstract]
Components Of Tier 1 Capital And Total Capital	CIT CIT Bank June 30, December 31, June 30, December 31, Tier 1 Capital 2015 2014 2015 2014 Total stockholders’ equity (2) $ 8,807.1 $ 9,068.9 $ 2,779.6 $ 2,716.4 Effect of certain items in accumulated other comprehensive loss excluded from Tier 1 Capital and qualifying noncontrolling interests Adjusted total equity Less: Goodwill (3) Disallowed deferred tax assets - - Disallowed intangible assets (3) - - Investment in certain subsidiaries NA NA - Other Tier 1 components (4) - Common Equity Tier 1 Capital Tier 1 Capital Tier 2 Capital Qualifying allowance for credit losses and other reserves (5) Less: Investment in certain subsidiaries NA - - Other Tier 2 components (6) - - - Total qualifying capital $ 8,421.8 $ 8,412.4 $ 2,869.3 $ 2,781.5 Risk-weighted assets $ 55,396.0 $ 55,480.9 $ 20,770.4 $ 19,552.3 Common Equity Tier 1 Capital (to risk-weighted assets): Actual NA NA Effective minimum ratios under Basel III guidelines (7) NA NA Tier 1 Capital (to risk-weighted assets): Actual Effective minimum ratios under Basel III and Basel I guidelines (7) Total 1 Capital (to risk-weighted assets): Actual Effective minimum ratios under Basel III and Basel I guidelines (7) Tier 1 Leverage Ratio: Actual Required minimum ratio for capital adequacy purposes

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	6 Months Ended
	Jun. 30, 2015
Stockholders' Equity [Abstract]
Components Of Accumulated Other Comprehensive Loss	June 30, 2015 December 31, 2014 Gross Unrealized Income Taxes Net Unrealized Gross Unrealized Income Taxes Net Unrealized Foreign currency translation adjustments $ (87.0) $ (13.1) $ (100.1) $ (75.4) $ - $ (75.4) Changes in benefit plan net gain (loss) and prior service (cost)/credit Unrealized net gains (losses) on available for sale securities - - - Total accumulated other comprehensive loss $ (146.0) $ (12.8) $ (158.8) $ (134.1) $ 0.2 $ (133.9)
Changes In Accumulated Other Comprehensive Income (Loss)	Changes in Accumulated Other Comprehensive Loss by Component (dollars in millions) Foreign currency translation adjustments Changes in benefit plan net gain (loss) and prior service (cost) credit Changes in fair values of derivatives qualifying as cash flow hedges Unrealized net gains (losses) on available for sale securities Total AOCI Balance as of December 31, 2014 $ (75.4) $ (58.5) $ - $ - $ (133.9) AOCI activity before reclassifications - Amounts reclassified from AOCI - - Net current period AOCI - Balance as of June 30, 2015 $ (100.1) $ (58.8) $ - $ 0.1 $ (158.8) Balance as of December 31, 2013 $ (49.4) $ (24.1) $ (0.2) $ 0.1 $ (73.6) AOCI activity before reclassifications Amounts reclassified from AOCI - Net current period AOCI Balance as of June 30, 2014 $ (56.7) $ (20.9) $ (0.3) $ 0.4 $ (77.5)
Reclassification Out Of Accumulated Other Comprehensive Income	Quarters Ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 Affected Income Statement line item Gross Amount Tax Net Amount Gross Amount Tax Net Amount Gross Amount Tax Net Amount Gross Amount Tax Net Amount Foreign currency translation adjustments gains (losses) $ - $ - $ - $ 0.5 $ - $ 0.5 $ 3.4 $ - $ 3.4 $ 2.3 $ - $ 2.3 Operating Expenses Changes in benefit plan net gain/(loss) and prior service (cost)/credit gains (losses) - - - - Other Income Unrealized net gains (losses) on available for sale securities - - - - - - Other Income Total Reclassifications out of AOCI $ 2.5 $ (0.1) $ 2.4 $ 5.9 $ (0.1) $ 5.8

Commitments (Tables)

Commitments (Tables)	6 Months Ended
	Jun. 30, 2015
Commitments [Abstract]
Summary Of Credit-Related Commitments And Purchase And Funding Commitments	June 30, 2015 December 31, Due to Expire 2014 Within After Total Total One Year One Year Outstanding Outstanding Financing Commitments Financing assets $ 1,082.1 $ 4,157.3 $ 5,239.4 $ 4,747.9 Letters of credit Standby letters of credit Other letters of credit - Guarantees Deferred purchase agreements - Guarantees, acceptances and other recourse obligations - Purchase and Funding Commitments Aerospace manufacturer purchase commitments Rail and other manufacturer purchase commitments

Business Segment Information (T

Business Segment Information (Tables)	6 Months Ended
	Jun. 30, 2015
Business Segment Information [Abstract]
Segment Profit And Assets	Segment Pre-tax Income (Loss) (dollars in millions) Transportation & International North American Non-Strategic Corporate & Total Finance Commercial Finance Portfolios Other CIT For the quarter ended June 30, 2015 Interest income $ 69.9 $ 199.0 $ 10.2 $ 4.7 $ 283.8 Interest expense Provision for credit losses - - Rental income on operating leases - Other income Depreciation on operating lease equipment - - Maintenance and other operating lease expenses - - - Operating expenses Loss on debt extinguishments - - - Income (loss) from continuing operations before (provision) benefit for income taxes $ 156.9 $ 47.5 $ (10.4) $ (40.9) $ 153.1 For the quarter ended June 30, 2014 Interest income $ 72.2 $ 208.8 $ 25.6 $ 3.2 $ 309.8 Interest expense Provision for credit losses - Rental income on operating leases - Other income Depreciation on operating lease equipment - Maintenance and other operating lease expenses - - - Operating expenses Loss on debt extinguishments - - - Income (loss) before benefit (provision) for income taxes $ 148.2 $ 92.7 $ (9.6) $ (12.3) $ 219.0 Six Months Ended June 30, 2015 Interest income $ 138.3 $ 395.1 $ 22.5 $ 8.9 $ 564.8 Interest expense Provision for credit losses - - Rental income on operating leases - Other income Depreciation on operating lease equipment - - Maintenance and other operating lease costs - - - Operating expenses Loss on debt extinguishments - - - Income (loss) before benefit (provision) for income taxes $ 313.9 $ 83.6 $ (23.2) $ (73.6) $ 300.7 Select Period End Balances Loans - - Credit balances of factoring clients - - - Assets held for sale - Operating lease equipment, net - - Six Months Ended June 30, 2014 Interest income $ 148.9 $ 402.2 $ 54.0 $ 6.9 $ 612.0 Interest expense Provision for credit losses Rental income on operating leases - Other income Depreciation on operating lease equipment - Maintenance and other operating lease costs - - - Operating expenses Loss on debt extinguishments - - - Income (loss) before benefit (provision) for income taxes $ 265.8 $ 135.2 $ (17.6) $ (41.7) $ 341.7 Select Period End Balances Loans $ 3,228.3 $ 15,376.1 $ - $ - $ 18,604.4 Credit balances of factoring clients - - - Assets held for sale - Operating lease equipment, net -

Business And Summary Of Signi36

Business And Summary Of Significant Accounting Policies (Details) $ in Millions	12 Months Ended
	Dec. 31, 2014USD ($)
Business And Summary Of Significant Accounting Policies [Abstract]
Immaterial error impacting disclosure of unearned income	$ 170

Discontinued Operation (Narrati

Discontinued Operation (Narrative) (Details) - USD ($)	6 Months Ended
	Jun. 30, 2015	Dec. 31, 2014
Discontinued Operation [Abstract]
Assets (liabilities) related to discontinued operations, net	$ 0	$ 0
Extinguishment of debt	3,200,000,000
FSA	$ 224,000,000

Discontinued Operation (Operati

Discontinued Operation (Operating Results Of Discontinued Operation) (Details) - Jun. 30, 2014 - USD ($) $ in Millions	Total	Total
Discontinued Operation [Abstract]
Interest income	$ 5.8	$ 27
Interest expense	(229.2)	(248.2)
Other income	(5.1)	(2.1)
Operating expenses	(1.3)	(3.5)
Income (loss) from discontinued operation before provision for income taxes	(229.8)	(226.8)
Provision for income taxes	(1.3)	(2)
Income from discontinued operation, net of taxes	(231.1)	(228.8)
Gain on sale of discontinued operation	282.8	282.8
Income from discontinued operation, net of taxes	$ 51.7	$ 54

Loans (Narrative) (Details)

Loans (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Accounts, Notes, Loans and Financing Receivable [Line Items]
Minimum consumer charge-offs past due, days			90 days
Maximum consumer charge-offs past due, days			150 days
Percentage of TDRs non-accrual	73.00%		73.00%		75.00%
Carrying amount of loans acquired with deteriorated credit quality	$ 0		$ 0		$ 1
Outstanding balance of loans acquired with deteriorated credit quality	14		14		16
Allowance for loan losses for loans acquired with deteriorated credit quality	0	$ 0.6	0	$ 0.6	0.5
Recorded investment of TDRs	15		15		17.2
Commitments to lend additional funds to borrowers	0.2		0.2		$ 0.8
Troubled debt restructuring related to modifications	1.7	2.1	2.3	10.7
Troubled debt restructurings that subsequently defaulted within one year	$ 0.1	0.2	$ 0.4	0.5
Troubled debt restructuring, payment deferral rate	38.00%		38.00%		35.00%
Troubled debt restructuring, covenant relief rate, other	62.00%		62.00%		65.00%
North American Commercial Finance [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Percentage of investments in Troubled Debt Restructurings ("TDR")	97.00%		97.00%		91.00%
Allowance for loan losses for loans acquired with deteriorated credit quality		$ 0.6		$ 0.6

Loans (Schedule Of Finance Rece

Loans (Schedule Of Finance Receivables) (Details) - USD ($) $ in Millions		Jun. 30, 2015	Dec. 31, 2014	Jun. 30, 2014
Loans [Abstract]
Loans		$ 14,508.9	$ 14,398.2
Direct financing leases and leveraged leases		5,140.4	5,096.8
Finance receivables		19,649.3	19,495	$ 18,604.4
Finance receivables held for sale		798.9	779.9
Finance and held for sale receivables	[1]	$ 20,448.2	$ 20,274.9
[1]	Assets held for sale on the Balance Sheet includes finance receivables and operating lease equipment. As discussed in subsequent tables, since the Company manages the credit risk and collections of finance receivables held for sale consistently with its finance receivables held for investment, the aggregate amount is presented in this table.

Loans (Finance Receivables By S

Loans (Finance Receivables By Segment, Based On Obligor Location) (Details) - USD ($) $ in Millions	Jun. 30, 2015	Dec. 31, 2014	Jun. 30, 2014
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	$ 19,649.3	$ 19,495	$ 18,604.4
Transportation And International Finance [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	3,717.1	3,558.9	3,228.3
North American Commercial Finance [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	15,932.2	15,936	$ 15,376.1
Non-Strategic Portfolios [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total		0.1
Domestic [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	15,529.8	15,457.7
Domestic [Member] | Transportation And International Finance [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	769.6	812.6
Domestic [Member] | North American Commercial Finance [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	14,760.2	14,645.1
Foreign [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	4,119.5	4,037.3
Foreign [Member] | Transportation And International Finance [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	2,947.5	2,746.3
Foreign [Member] | North American Commercial Finance [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	$ 1,172	1,290.9
Foreign [Member] | Non-Strategic Portfolios [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total		$ 0.1

Loans (Components Of Net Invest

Loans (Components Of Net Investment In Finance Receivables) (Details) - USD ($) $ in Millions	Jun. 30, 2015	Dec. 31, 2014
Loans [Abstract]
Unearned income	$ (1,056)	$ (1,037.8)
Unamortized (discounts)	(19.2)	(22)
Net amortized deferred costs and (fees)	$ 52.4	$ 48.5

Loans (Finance And Held-For-Sal

Loans (Finance And Held-For-Sale Receivables - By Risk Rating) (Details) - USD ($) $ in Millions	Jun. 30, 2015	Dec. 31, 2014
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	$ 20,448.2	$ 20,274.9
Pass [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	18,033	18,109
Special Mention [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	1,540.7	1,393.3
Classified - Accruing [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	676.5	612.1
Classified- Non-accrual [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	198	160.5
Transportation And International Finance [Member] | Transportation Finance [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	3,195.1	2,952.9
Transportation And International Finance [Member] | Transportation Finance [Member] | Pass [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	2,923.5	2,895.9
Transportation And International Finance [Member] | Transportation Finance [Member] | Special Mention [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	198.1	12.8
Transportation And International Finance [Member] | Transportation Finance [Member] | Classified - Accruing [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	68.8	44.1
Transportation And International Finance [Member] | Transportation Finance [Member] | Classified- Non-accrual [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	4.7	0.1
Transportation And International Finance [Member] | International Finance [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	976.5	1,023.2
Transportation And International Finance [Member] | International Finance [Member] | Pass [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	784.7	820.2
Transportation And International Finance [Member] | International Finance [Member] | Special Mention [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	78.1	107.9
Transportation And International Finance [Member] | International Finance [Member] | Classified - Accruing [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	60.6	58
Transportation And International Finance [Member] | International Finance [Member] | Classified- Non-accrual [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	53.1	37.1
North American Commercial Finance [Member] | Corporate Finance [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	7,066.5	6,912.7
North American Commercial Finance [Member] | Corporate Finance [Member] | Pass [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	6,127.8	6,199
North American Commercial Finance [Member] | Corporate Finance [Member] | Special Mention [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	634	561
North American Commercial Finance [Member] | Corporate Finance [Member] | Classified - Accruing [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	270.6	121.8
North American Commercial Finance [Member] | Corporate Finance [Member] | Classified- Non-accrual [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	34.1	30.9
North American Commercial Finance [Member] | Equipment Finance [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	4,810.8	4,717.3
North American Commercial Finance [Member] | Equipment Finance [Member] | Pass [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	4,284.9	4,129.1
North American Commercial Finance [Member] | Equipment Finance [Member] | Special Mention [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	305.7	337.8
North American Commercial Finance [Member] | Equipment Finance [Member] | Classified - Accruing [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	143.3	180.4
North American Commercial Finance [Member] | Equipment Finance [Member] | Classified- Non-accrual [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	76.9	70
North American Commercial Finance [Member] | Real Estate Finance [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	1,941.4	1,768.6
North American Commercial Finance [Member] | Real Estate Finance [Member] | Pass [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	1,897.9	1,692
North American Commercial Finance [Member] | Real Estate Finance [Member] | Special Mention [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	43.5	76.6
North American Commercial Finance [Member] | Commercial Services [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	2,201.8	2,560.2
North American Commercial Finance [Member] | Commercial Services [Member] | Pass [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	1,809.4	2,084.1
North American Commercial Finance [Member] | Commercial Services [Member] | Special Mention [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	266	278.8
North American Commercial Finance [Member] | Commercial Services [Member] | Classified - Accruing [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	126.4	197.3
Subtotal [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	20,192.1	19,934.9
Subtotal [Member] | Pass [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	17,828.2	17,820.3
Subtotal [Member] | Special Mention [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	1,525.4	1,374.9
Subtotal [Member] | Classified - Accruing [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	669.7	601.6
Subtotal [Member] | Classified- Non-accrual [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	168.8	138.1
Non-Strategic Portfolios [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	256.1	340
Non-Strategic Portfolios [Member] | Pass [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	204.8	288.7
Non-Strategic Portfolios [Member] | Special Mention [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	15.3	18.4
Non-Strategic Portfolios [Member] | Classified - Accruing [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	6.8	10.5
Non-Strategic Portfolios [Member] | Classified- Non-accrual [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	$ 29.2	$ 22.4

Loans (Schedule Of Finance Re44

Loans (Schedule Of Finance Receivables Delinquency Status) (Details) - USD ($) $ in Millions	Jun. 30, 2015	Dec. 31, 2014
Financing Receivable, Recorded Investment, Past Due [Line Items]
30-59 Days Past Due	$ 143.7	$ 225.8
60-89 Days Past Due	57.8	52
90 Days or Greater	93.6	51.8
Total Past Due 30 Days Or Greater	295.1	329.6
Current	20,153.1	19,945.3
Total Finance Receivables	20,448.2	20,274.9
Subtotal [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
30-59 Days Past Due	135.8	209.4
60-89 Days Past Due	53	45.1
90 Days or Greater	74.6	42.2
Total Past Due 30 Days Or Greater	263.4	296.7
Current	19,928.7	19,638.2
Total Finance Receivables	20,192.1	19,934.9
Non-Strategic Portfolios [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
30-59 Days Past Due	7.9	16.4
60-89 Days Past Due	4.8	6.9
90 Days or Greater	19	9.6
Total Past Due 30 Days Or Greater	31.7	32.9
Current	224.4	307.1
Total Finance Receivables	256.1	340
Transportation Finance [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
30-59 Days Past Due	3.6	5.2
60-89 Days Past Due	2.7	1.9
90 Days or Greater	7.9	4.3
Total Past Due 30 Days Or Greater	14.2	11.4
Current	3,180.9	2,941.5
Total Finance Receivables	3,195.1	2,952.9
International Finance [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
30-59 Days Past Due	27.3	43.9
60-89 Days Past Due	11	7
90 Days or Greater	40.1	21.6
Total Past Due 30 Days Or Greater	78.4	72.5
Current	898.1	950.7
Total Finance Receivables	976.5	1,023.2
Corporate Finance [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
30-59 Days Past Due		4.4
90 Days or Greater	11.1	0.5
Total Past Due 30 Days Or Greater	11.1	4.9
Current	7,055.4	6,907.8
Total Finance Receivables	7,066.5	6,912.7
Equipment Finance [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
30-59 Days Past Due	68.6	93.7
60-89 Days Past Due	37.6	32.9
90 Days or Greater	14.8	14.9
Total Past Due 30 Days Or Greater	121	141.5
Current	4,689.8	4,575.8
Total Finance Receivables	4,810.8	4,717.3
Real Estate Finance [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Current	1,941.4	1,768.6
Total Finance Receivables	1,941.4	1,768.6
Commercial Services [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
30-59 Days Past Due	36.3	62.2
60-89 Days Past Due	1.7	3.3
90 Days or Greater	0.7	0.9
Total Past Due 30 Days Or Greater	38.7	66.4
Current	2,163.1	2,493.8
Total Finance Receivables	$ 2,201.8	$ 2,560.2

Loans (Finance Receivables On N

Loans (Finance Receivables On Non-accrual Status) (Details) - USD ($) $ in Millions	Jun. 30, 2015	Dec. 31, 2014
Finance Receivables Non Accrual Status By Type Of Holding [Line Items]
Total non-accrual loans	$ 198	$ 160.5
Repossessed assets	2.6	0.8
Total non-performing assets	200.6	161.3
Accruing loans past due 90 days or more	9	10.3
Held For Investment [Member]
Finance Receivables Non Accrual Status By Type Of Holding [Line Items]
Total non-accrual loans	149.6	123.4
Held For Sale [Member]
Finance Receivables Non Accrual Status By Type Of Holding [Line Items]
Total non-accrual loans	48.4	37.1
Subtotal [Member]
Finance Receivables Non Accrual Status By Type Of Holding [Line Items]
Total non-accrual loans	168.8	138.1
Subtotal [Member] | Held For Investment [Member]
Finance Receivables Non Accrual Status By Type Of Holding [Line Items]
Total non-accrual loans	149.6	123.4
Subtotal [Member] | Held For Sale [Member]
Finance Receivables Non Accrual Status By Type Of Holding [Line Items]
Total non-accrual loans	19.2	14.7
Non-Strategic Portfolios [Member]
Finance Receivables Non Accrual Status By Type Of Holding [Line Items]
Total non-accrual loans	29.2	22.4
Non-Strategic Portfolios [Member] | Held For Sale [Member]
Finance Receivables Non Accrual Status By Type Of Holding [Line Items]
Total non-accrual loans	29.2	22.4
Transportation Finance [Member]
Finance Receivables Non Accrual Status By Type Of Holding [Line Items]
Total non-accrual loans	4.7	0.1
Transportation Finance [Member] | Held For Investment [Member]
Finance Receivables Non Accrual Status By Type Of Holding [Line Items]
Total non-accrual loans	4.7	0.1
International Finance [Member]
Finance Receivables Non Accrual Status By Type Of Holding [Line Items]
Total non-accrual loans	53.1	37.1
International Finance [Member] | Held For Investment [Member]
Finance Receivables Non Accrual Status By Type Of Holding [Line Items]
Total non-accrual loans	35.4	22.4
International Finance [Member] | Held For Sale [Member]
Finance Receivables Non Accrual Status By Type Of Holding [Line Items]
Total non-accrual loans	17.7	14.7
Corporate Finance [Member]
Finance Receivables Non Accrual Status By Type Of Holding [Line Items]
Total non-accrual loans	34.1	30.9
Corporate Finance [Member] | Held For Investment [Member]
Finance Receivables Non Accrual Status By Type Of Holding [Line Items]
Total non-accrual loans	32.6	30.9
Corporate Finance [Member] | Held For Sale [Member]
Finance Receivables Non Accrual Status By Type Of Holding [Line Items]
Total non-accrual loans	1.5
Equipment Finance [Member]
Finance Receivables Non Accrual Status By Type Of Holding [Line Items]
Total non-accrual loans	76.9	70
Equipment Finance [Member] | Held For Investment [Member]
Finance Receivables Non Accrual Status By Type Of Holding [Line Items]
Total non-accrual loans	76.9	$ 70
Equipment Finance [Member] | Held For Sale [Member]
Finance Receivables Non Accrual Status By Type Of Holding [Line Items]
Total non-accrual loans	$ 0

Loans (Impaired Loans) (Details

Loans (Impaired Loans) (Details) - USD ($) $ in Millions		3 Months Ended	6 Months Ended		12 Months Ended
		Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Financing Receivable, Impaired [Line Items]
Recorded Investment	[1]		$ 79.6		$ 58
Unpaid Principal Balance	[1]		115.5		85.3
Related Allowance	[1]		17.5		12.9
Average Recorded Investment	[1]	$ 269.8	68.5		217
Interest income recorded			0.6	$ 6.2	10.1
Interest income recognized using cash basis method			0	$ 0.8	0.7
Commercial Impaired Loans [Member]
Financing Receivable, Impaired [Line Items]
Recorded Investment			79.6		56.8	[1]
Unpaid Principal Balance			101.3		69.5	[1]
Related Allowance			17.5		12.4	[1]
Average Recorded Investment		226.6	68.1		190.6	[1]
Loans Impaired At Convenience Date [Member]
Financing Receivable, Impaired [Line Items]
Recorded Investment	[2]				1.2
Unpaid Principal Balance	[2]		14.2		15.8
Related Allowance	[2]				0.5
Average Recorded Investment	[2]	43.2	0.4		26.4
Non-Strategic Portfolios [Member] | With No Related Allowance Recorded [Member]
Financing Receivable, Impaired [Line Items]
Average Recorded Investment		5.6			3.4
Transportation Finance [Member] | With Related Allowance Recorded [Member]
Financing Receivable, Impaired [Line Items]
Recorded Investment			4.7
Unpaid Principal Balance			4.7
Related Allowance			0.9
Average Recorded Investment		15	1.6		9
International Finance [Member] | With No Related Allowance Recorded [Member]
Financing Receivable, Impaired [Line Items]
Recorded Investment			7.7		10.2
Unpaid Principal Balance			11		17
Average Recorded Investment		8.5	8.7		10.1
International Finance [Member] | With Related Allowance Recorded [Member]
Financing Receivable, Impaired [Line Items]
Recorded Investment			22.2		6
Unpaid Principal Balance			22.2		6
Related Allowance			5		1
Average Recorded Investment		0.8	12.1		3.4
Corporate Finance [Member] | With No Related Allowance Recorded [Member]
Financing Receivable, Impaired [Line Items]
Recorded Investment			0.5		1.2
Unpaid Principal Balance			0.5		1.2
Average Recorded Investment		131.1	0.8		104.9
Corporate Finance [Member] | With Related Allowance Recorded [Member]
Financing Receivable, Impaired [Line Items]
Recorded Investment			25.9		29.6
Unpaid Principal Balance			43.3		34.3
Related Allowance			9.5		11.4
Average Recorded Investment		48.9	32.7		43.5
Equipment Finance [Member] | With No Related Allowance Recorded [Member]
Financing Receivable, Impaired [Line Items]
Recorded Investment			5.1		5.6
Unpaid Principal Balance			6.1		6.8
Average Recorded Investment		6.1	5		5.8
Equipment Finance [Member] | With Related Allowance Recorded [Member]
Financing Receivable, Impaired [Line Items]
Recorded Investment			9.7
Unpaid Principal Balance			9.7
Related Allowance			2.1
Average Recorded Investment			3.2		0.8
Commercial Services [Member] | With No Related Allowance Recorded [Member]
Financing Receivable, Impaired [Line Items]
Recorded Investment			3.8		4.2
Unpaid Principal Balance			3.8		4.2
Average Recorded Investment		$ 8.2	$ 4		6.9
Commercial Services [Member] | With Related Allowance Recorded [Member]
Financing Receivable, Impaired [Line Items]
Average Recorded Investment					$ 2.8
[1]	Interest income recorded for the six months ended June 30, 2015 and 2014 while the loans were impaired was $0.6 million and $6.2 million, respectively, of which $0 and $0.8 million was interest recognized using the cash-basis method of accounting. Interest income recorded for the year ended December 31, 2014 while the loans were impaired was $10.1 million, of which $0.7 million was interest recognized using the cash-basis method of accounting.
[2]	Details of finance receivables that were identified as impaired at the Convenience Date are presented under Loans and Debt Securities Acquired with Deteriorated Credit Quality.

Allowance For Loan Losses (Sche

Allowance For Loan Losses (Schedule Of Allowance For Loan Losses And Recorded Investment In Finance Receivables) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Accounts, Notes, Loans and Financing Receivable [Line Items]
Beginning balance	$ 356.5	$ 352.6	$ 346.4	$ 356.1
Provision for credit losses	18.4	10.2	53	46.9
Other	(0.5)	(0.6)	(4.1)	(5.2)
Gross charge-offs	(34.2)	(29.1)	(60.8)	(73.5)
Recoveries	10.7	7.9	16.4	16.7
Allowance balance - end of period	350.9	341	350.9	341
Allowance balance: Loans individually evaluated for impairment	17.5	22.2	17.5	22.2
Allowance balance: Loans collectively evaluated for impairment	333.4	318.2	333.4	318.2
Loans acquired with deteriorated credit quality--Allowance	0	0.6	0	0.6
Other reserves	38	31.4	38	31.4
Finance receivables: Loans individually evaluated for impairment	79.6	223.3	79.6	223.3
Finance receivables: Loans collectively evaluated for impairment	19,569.7	18,360.3	19,569.7	18,360.3
Finance receivables: Loans acquired with deteriorated credit quality		20.8		20.8
Ending balance	$ 19,649.3	$ 18,604.4	$ 19,649.3	$ 18,604.4
Percent of loans to total loans	100.00%	100.00%	100.00%	100.00%
Gross charge-offs charged directly into specific allowance for loan losses		$ 3	$ 5	$ 9
Transfer of loans to held for sale			376.9	1,213.9
Transportation And International Finance [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Beginning balance	$ 55.5	45.7	46.8	46.7
Provision for credit losses	(0.4)	8.3	10.2	20.7
Other	0.2	(1.2)	(0.2)	(1.6)
Gross charge-offs	(2.9)	(15.9)	(6.1)	(30.2)
Recoveries	5.6	2.8	7.3	4.1
Allowance balance - end of period	58	39.7	58	39.7
Allowance balance: Loans individually evaluated for impairment	5.9	2.7	5.9	2.7
Allowance balance: Loans collectively evaluated for impairment	52.1	37	52.1	37
Other reserves	0.2	0.5	0.2	0.5
Finance receivables: Loans individually evaluated for impairment	34.6	31.1	34.6	31.1
Finance receivables: Loans collectively evaluated for impairment	3,682.5	3,197.1	3,682.5	3,197.1
Finance receivables: Loans acquired with deteriorated credit quality		0.1		0.1
Ending balance	$ 3,717.1	$ 3,228.3	$ 3,717.1	$ 3,228.3
Percent of loans to total loans	18.90%	17.40%	18.90%	17.40%
North American Commercial Finance [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Beginning balance	$ 301	$ 306.9	$ 299.6	$ 303.8
Provision for credit losses	18.8	2.6	42.8	25.8
Other	(0.7)	0.6	(3.9)	(3.5)
Gross charge-offs	(31.3)	(13.2)	(54.7)	(35.8)
Recoveries	5.1	4.4	9.1	11
Allowance balance - end of period	292.9	301.3	292.9	301.3
Allowance balance: Loans individually evaluated for impairment	11.6	19.5	11.6	19.5
Allowance balance: Loans collectively evaluated for impairment	281.3	281.2	281.3	281.2
Loans acquired with deteriorated credit quality--Allowance		0.6		0.6
Other reserves	37.8	30.9	37.8	30.9
Finance receivables: Loans individually evaluated for impairment	45	192.2	45	192.2
Finance receivables: Loans collectively evaluated for impairment	15,887.2	15,163.2	15,887.2	15,163.2
Finance receivables: Loans acquired with deteriorated credit quality		20.7		20.7
Ending balance	$ 15,932.2	$ 15,376.1	$ 15,932.2	$ 15,376.1
Percent of loans to total loans	81.10%	82.60%	81.10%	82.60%
Non-Strategic Portfolios [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Beginning balance				$ 5.6
Provision for credit losses	$ 0	$ (0.7)	$ 0	0.3
Other	0		0
Gross charge-offs	0		0	(7.5)
Recoveries	0	$ 0.7	0	$ 1.6
Allowance balance - end of period	$ 0		$ 0
Percent of loans to total loans	0.00%	0.00%	0.00%	0.00%
Corporate And Other [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Provision for credit losses	$ 0		$ 0	$ 0.1
Other	0		0	(0.1)
Gross charge-offs	0		0	0
Recoveries	0		0	$ 0
Allowance balance - end of period	$ 0		$ 0
Percent of loans to total loans	0.00%	0.00%	0.00%	0.00%

Securities Purchased Under Re48

Securities Purchased Under Resale Agreements (Details) - USD ($) $ in Millions	Jun. 30, 2015	Dec. 31, 2014
Securities Purchased Under Resale Agreements [Abstract]
Securities purchased under agreements to resell	$ 750	$ 650

Investment Securities (Narrativ

Investment Securities (Narrative) (Details) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
		Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Investment Securities [Abstract]
Minimum percentage ownership of limited partnership investments included in non-marketable equity investments		3.00%		3.00%
Realized investment gains		$ 3	$ 5.6	$ 4.5	$ 9.1
Interest bearing deposits that are cash equivalents	[1]	$ 4,224.8		$ 4,224.8		$ 6,241.2
[1]	The following table presents information on assets and liabilities related to Variable Interest Entities (VIEs) that are consolidated by the Company. The difference between VIE total assets and total liabilities represents the Company's interests in those entities, which were eliminated in consolidation. The assets of the consolidated VIEs will be used to settle the liabilities of those entities and, except for the Company's interest in the VIEs, are not available to the creditors of CIT or any affiliates of CIT.

Investment Securities (Schedule

Investment Securities (Schedule Of Investment Securities) (Details) - USD ($) $ in Millions		Jun. 30, 2015	Dec. 31, 2014
Investment Holdings [Line Items]
Debt securities available-for-sale		$ 1,300.6	$ 1,116.5
Equity securities available-for-sale		14.3	14
Debt securities held-to-maturity	[1]	319.9	352.3
Non-marketable equity investments	[2]	58.1	67.5
Total investment securities		1,692.9	1,550.3
Limited Partnerships [Member]
Investment Holdings [Line Items]
Non-marketable equity investments		$ 18.4	$ 19.7
[1]	Recorded at amortized cost less impairment on securities that have credit-related impairment.
[2]	Non-marketable equity investments include ownership interests greater than 3% in limited partnership investments that are accounted for under the equity method. Non-marketable equity investments include $18.4 million and $19.7 million in limited partnerships at June 30, 2015 and December 31, 2014, respectively, accounted for under the equity method. The remaining investments are carried at cost and include qualified Community Reinvestment Act ("CRA") investments, equity fund holdings and shares issued by customers during loan work out situations or as part of an original loan investment.

Investment Securities (Schedu51

Investment Securities (Schedule Of Interest And Dividends On Investments) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Schedule of Investment Income, Reported Amounts, by Category [Line Items]
Total interest and dividends	$ 9	$ 8.4	$ 17.6	$ 17.2
Interest Income - Interest Bearing Deposits [Member]
Schedule of Investment Income, Reported Amounts, by Category [Line Items]
Total interest and dividends	3.4	4.5	7.4	9.1
Interest Income - Investments [Member]
Schedule of Investment Income, Reported Amounts, by Category [Line Items]
Total interest and dividends	5.1	3.1	9.2	6.4
Dividends - Investments [Member]
Schedule of Investment Income, Reported Amounts, by Category [Line Items]
Total interest and dividends	$ 0.5	$ 0.8	$ 1	$ 1.7

Investment Securities (Amortize

Investment Securities (Amortized Cost And Fair Value Of Securities Available-For-Sale) (Details) - USD ($) $ in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2015	Dec. 31, 2014
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	$ 1,314.6	$ 1,130.5
Gross Unrealized Gains	0.4	0.6
Gross Unrealized Losses	(0.1)	(0.6)
Fair Value	1,314.9	1,130.5
U.S. Treasury Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	$ 600	$ 200
Gross Unrealized Gains
Gross Unrealized Losses
Fair Value	$ 600	$ 200
U.S. Government Agency Obligations [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	599.8	$ 904.2
Gross Unrealized Gains	$ 0.3
Gross Unrealized Losses
Fair Value	$ 600.1	$ 904.2
Foreign Government And Supranational Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	$ 100.5	$ 12.3
Gross Unrealized Gains
Gross Unrealized Losses
Fair Value	$ 100.5	$ 12.3
Total Debt Securities Available For Sale [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	1,300.3	$ 1,116.5
Gross Unrealized Gains	$ 0.3
Gross Unrealized Losses
Fair Value	$ 1,300.6	$ 1,116.5
Equity Securities AFS [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	14.3	14
Gross Unrealized Gains	0.1	0.6
Gross Unrealized Losses	(0.1)	(0.6)
Fair Value	$ 14.3	$ 14

Investment Securities (Amorti53

Investment Securities (Amortized Cost And Fair Value Maturities Of Available For Sale Securities) (Details) - USD ($) $ in Millions	Jun. 30, 2015	Dec. 31, 2014
Schedule of Available-for-sale Securities [Line Items]
Total Amortized Cost	$ 1,300.3	$ 1,116.5
Total Fair Value	1,300.6	1,116.5
U.S. Treasury Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Due within 1 year, Amortized Cost	600	200
Total Amortized Cost	600	200
Due within 1 year, Fair Value	600	200
Total Fair Value	600	200
U.S. Government Agency Obligations [Member]
Schedule of Available-for-sale Securities [Line Items]
Due within 1 year, Amortized Cost	100	904.2
After 1 but within 5 years, Amortized Cost	499.8
Total Amortized Cost	599.8	904.2
Due within 1 year, Fair Value	100	904.2
After 1 but within 5 years, Fair VAlue	500.1
Total Fair Value	600.1	904.2
Foreign Government And Supranational Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Due within 1 year, Amortized Cost	100.5	12.3
Total Amortized Cost	100.5	12.3
Due within 1 year, Fair Value		12.3
Total Fair Value	$ 100.5	$ 12.3

Investment Securities (Carrying

Investment Securities (Carrying Value And Fair Value Of Securities Held-To-Maturity) (Details) - USD ($) $ in Millions		6 Months Ended	12 Months Ended
		Jun. 30, 2015	Dec. 31, 2014
Schedule of Held-to-maturity Securities [Line Items]
Carrying Value	[1]	$ 319.9	$ 352.3
Gross Unrecognized Gains		8.7	11.7
Gross Unrecognized Losses		(4.3)	(3.7)
Fair Value		324.3	360.3
Mortgage-Backed Securities - U.S. Government-Sponsored Agency Guaranteed [Member]
Schedule of Held-to-maturity Securities [Line Items]
Carrying Value		161.1	156.3
Gross Unrecognized Gains		1.5	2.5
Gross Unrecognized Losses		(3.5)	(1.9)
Fair Value		159.1	156.9
State And Municipal [Member]
Schedule of Held-to-maturity Securities [Line Items]
Carrying Value		$ 43.8	48.1
Gross Unrecognized Gains			0.1
Gross Unrecognized Losses		$ (0.8)	(1.8)
Fair Value		43	46.4
Foreign Government [Member]
Schedule of Held-to-maturity Securities [Line Items]
Carrying Value		8.4	37.9
Gross Unrecognized Gains		$ 0.1	$ 0.1
Gross Unrecognized Losses
Fair Value		$ 8.5	$ 38
Corporate - Foreign [Member]
Schedule of Held-to-maturity Securities [Line Items]
Carrying Value		106.6	110
Gross Unrecognized Gains		$ 7.1	$ 9
Gross Unrecognized Losses
Fair Value		$ 113.7	$ 119
[1]	Recorded at amortized cost less impairment on securities that have credit-related impairment.

Investment Securities (Amorti55

Investment Securities (Amortized Cost And Fair Value Of Debt Securities Held-To-Maturity By Contractual Maturity Dates) (Details) - USD ($) $ in Millions		6 Months Ended
		Jun. 30, 2015	Dec. 31, 2014
Schedule of Held-to-maturity Securities [Line Items]
Held-to-maturity Securities, Total	[1]	$ 319.9	$ 352.3
Held-to-maturity Securities, Fair Value, Total		$ 324.3	360.3
Maturity of investment securities with no stated maturities		10 years
Mortgage-Backed Securities [Member]
Schedule of Held-to-maturity Securities [Line Items]
Debt securities HTM, due After 5 but within 10 years, Amortized Cost		$ 1.3	1.3
Debt securities HTM, due After 5 but within 10 years, Fair Value		1.3	1.3
Debt securities HTM, due After 10 years, Amortized Cost		159.8	155
Debt securities HTM, due After 10 years, Fair Value		157.8	155.6
Held-to-maturity Securities, Total		161.1	156.3
Held-to-maturity Securities, Fair Value, Total		159.1	156.9
State And Municipal [Member]
Schedule of Held-to-maturity Securities [Line Items]
Debt securities HTM, Due within 1 year, Amortized Cost		1.1	1.2
Debt securities HTM, Due within 1 year, Fair Value		1.1	1.2
Debt securities HTM, due After 1 but within 5 years, Amortized Cost		2.6	2.9
Debt securities HTM, due After 1 but within 5 years, Fair Value		2.6	2.9
Debt securities HTM, due After 10 years, Amortized Cost		40.1	44
Debt securities HTM, due After 10 years, Fair Value		39.3	42.3
Held-to-maturity Securities, Total		43.8	48.1
Held-to-maturity Securities, Fair Value, Total		43	46.4
Foreign Government [Member]
Schedule of Held-to-maturity Securities [Line Items]
Debt securities HTM, Due within 1 year, Amortized Cost	[2]	5.9	10.8
Debt securities HTM, Due within 1 year, Fair Value	[2]	5.9	10.8
Debt securities HTM, due After 1 but within 5 years, Amortized Cost		2.5	27.1
Debt securities HTM, due After 1 but within 5 years, Fair Value		2.6	27.2
Held-to-maturity Securities, Total		8.4	37.9
Held-to-maturity Securities, Fair Value, Total		8.5	38
Corporate - Foreign [Member]
Schedule of Held-to-maturity Securities [Line Items]
Debt securities HTM, Due within 1 year, Amortized Cost		0.9	0.9
Debt securities HTM, Due within 1 year, Fair Value		0.9	0.9
Debt securities HTM, due After 1 but within 5 years, Amortized Cost		66	43.7
Debt securities HTM, due After 1 but within 5 years, Fair Value		72.1	49.8
Debt securities HTM, due After 5 but within 10 years, Amortized Cost		39.7	65.4
Debt securities HTM, due After 5 but within 10 years, Fair Value		40.7	68.3
Held-to-maturity Securities, Total		106.6	110
Held-to-maturity Securities, Fair Value, Total		$ 113.7	$ 119
[1]	Recorded at amortized cost less impairment on securities that have credit-related impairment.
[2]	Investments with no stated maturities are included as contractual maturities of greater than 10 years. Actual maturities may differ due to call or prepayment rights.

Long-Term Borrowings (Narrative

Long-Term Borrowings (Narrative) (Details) $ in Millions		6 Months Ended
		Jun. 30, 2015USD ($)item	Dec. 31, 2014USD ($)
Debt Instrument [Line Items]
Revolving Credit Facility		$ 0	$ 0
Revolving Credit Facility commitment amount		$ 1,500
Number of domestic operating subsidiaries that are guarantors | item		8
Available portion of line of credit		$ 1,400
Revolving credit facility, minimum consolidated net worth covenant		6,000
Long term debt	[1]	$ 16,441.6	18,455.8
Series C Notes [Member]
Debt Instrument [Line Items]
Repurchase all or portion of the notes at purchase price, Series A and C notes		101.00%
Long term debt		$ 2,450
Line Of Credit Revolver [Member]
Debt Instrument [Line Items]
Revolving Credit Facility commitment amount		1,150
Line Of Credit For Issuance Of Letters Of Credit [Member]
Debt Instrument [Line Items]
Revolving Credit Facility commitment amount		350
Available portion of line of credit		100
Senior Unsecured Notes [Member]
Debt Instrument [Line Items]
Long term debt	[1]	10,732.8	$ 11,932.4
Other Debt [Member]
Debt Instrument [Line Items]
Long term debt		$ 39
Minimum [Member]
Debt Instrument [Line Items]
Minimum guarantor asset coverage ratio under debt covenant		1.25
Maximum [Member]
Debt Instrument [Line Items]
LIBOR with no floor		2.50%
Minimum guarantor asset coverage ratio under debt covenant		1.5
FHLB Des Moines [Member]
Debt Instrument [Line Items]
Collateral pledged		$ 147
Base Rate Plus [Member] | Maximum [Member]
Debt Instrument [Line Items]
LIBOR with no floor		1.50%
[1]	Senior Unsecured Notes at June 30, 2015 were comprised of $8,243.8 million of Unsecured Notes, $2,450.0 million of Series C Notes and $39.0 million of other unsecured debt.

Long-Term Borrowings (Schedule

Long-Term Borrowings (Schedule Of Outstanding Long-Term Borrowings) (Details) - USD ($) $ in Millions		Jun. 30, 2015	Dec. 31, 2014
Debt Instrument [Line Items]
Long-term borrowings	[1]	$ 16,441.6	$ 18,455.8
CIT Group Inc. [Member]
Debt Instrument [Line Items]
Long-term borrowings	[1]	10,732.8
Subsidiaries [Member]
Debt Instrument [Line Items]
Long-term borrowings	[1]	5,708.8
Senior Unsecured Notes [Member]
Debt Instrument [Line Items]
Long-term borrowings	[1]	10,732.8	11,932.4
Senior Unsecured Notes [Member] | CIT Group Inc. [Member]
Debt Instrument [Line Items]
Long-term borrowings	[1]	10,732.8
Series C Notes [Member]
Debt Instrument [Line Items]
Long-term borrowings		2,450
Unsecured Notes Issued After March 9, 2012 [Member]
Debt Instrument [Line Items]
Long-term borrowings		8,243.8
Other Debt [Member]
Debt Instrument [Line Items]
Long-term borrowings		39
Secured Borrowings - Excuding Student Loan Debt [Member]
Debt Instrument [Line Items]
Long-term borrowings		5,708.8	$ 6,523.4
Secured Borrowings - Excuding Student Loan Debt [Member] | Subsidiaries [Member]
Debt Instrument [Line Items]
Long-term borrowings		$ 5,708.8
[1]	Senior Unsecured Notes at June 30, 2015 were comprised of $8,243.8 million of Unsecured Notes, $2,450.0 million of Series C Notes and $39.0 million of other unsecured debt.

Long-Term Borrowings (Schedul58

Long-Term Borrowings (Schedule Of Senior Unsecured Notes) (Details) - Jun. 30, 2015 - USD ($)		Total
Debt Instrument [Line Items]
Par Value		$ 10,700,000,000
Weighted Average Rate (%)		5.02%
Series C Notes [Member] | April 2018 - 6.625% [Member]
Debt Instrument [Line Items]
Maturity Date		April 2018*
Rate (%)		6.625%
Date of Issuance		March 2,011
Par Value		$ 700,000,000
Series C Notes [Member] | February 2019 - 5.500% [Member]
Debt Instrument [Line Items]
Maturity Date	[1]	February 2019*
Rate (%)	[1]	5.50%
Date of Issuance	[1]	February 2,012
Par Value	[1]	$ 1,750,000,000
Senior Unsecured Notes [Member] | May 2017 - 5.00% [Member]
Debt Instrument [Line Items]
Maturity Date	[1]	May 2,017
Rate (%)	[1]	5.00%
Date of Issuance	[1]	May 2,012
Par Value	[1]	$ 1,250,000,000
Senior Unsecured Notes [Member] | August 2017 - 4.250%[Member]
Debt Instrument [Line Items]
Maturity Date		August 2,017
Rate (%)		4.25%
Date of Issuance		August 2,012
Par Value		$ 1,750,000,000
Senior Unsecured Notes [Member] | March 2018 - 5.250% [Member]
Debt Instrument [Line Items]
Maturity Date		March 2,018
Rate (%)		5.25%
Date of Issuance		March 2,012
Par Value		$ 1,500,000,000
Senior Unsecured Notes [Member] | February 2019 - 3.875% [Member]
Debt Instrument [Line Items]
Maturity Date	[1]	February 2,019
Rate (%)	[1]	3.875%
Date of Issuance	[1]	February 2,014
Par Value	[1]	$ 1,000,000,000
Senior Unsecured Notes [Member] | May 2020 - 5.375% [Member]
Debt Instrument [Line Items]
Maturity Date		May 2,020
Rate (%)		5.375%
Date of Issuance		May 2,012
Par Value		$ 750,000,000
Senior Unsecured Notes [Member] | August 2022 - 5.000% [Member]
Debt Instrument [Line Items]
Maturity Date		August 2,022
Rate (%)		5.00%
Date of Issuance		August 2,012
Par Value		$ 1,250,000,000
Senior Unsecured Notes [Member] | August 2023 - 5.000% [Member]
Debt Instrument [Line Items]
Maturity Date		August 2,023
Rate (%)		5.00%
Date of Issuance		August 2,013
Par Value		$ 750,000,000
[1]	* Series C Unsecured Notes

Long-Term Borrowings (Schedul59

Long-Term Borrowings (Schedule Of Secured Borrowings And Pledged Assets) (Details) - USD ($) $ in Millions		Jun. 30, 2015	Dec. 31, 2014
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]
Secured Borrowing	[1],[2]	$ 5,708.8	$ 6,523.4
Assets Pledged	[1],[2]	9,444.6	10,527.7
Pledged assets held for sale		11,400
Loans [Member]
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]
Pledged assets held for sale		6,100
Operating Lease Assets [Member]
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]
Pledged assets held for sale		4,700
Cash [Member]
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]
Pledged assets held for sale		400
Investment Securities [Member]
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]
Pledged assets held for sale		200
Transportation And International Finance [Member]
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]
Secured Borrowing	[1],[2]	3,879.7	4,136.4
Assets Pledged	[1],[2]	5,561.8	6,220.7
Transportation And International Finance [Member] | Rail [Member]
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]
Secured Borrowing	[1],[2]	1,109.2	1,179.7
Assets Pledged	[1],[2]	1,512.9	1,575.7
Transportation And International Finance [Member] | Aerospace [Member]
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]
Secured Borrowing	[1],[2]	2,283.7	2,411.7
Assets Pledged	[1],[2]	3,389.8	3,914.4
Transportation And International Finance [Member] | International Finance [Member]
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]
Secured Borrowing	[1],[2]	486.8	545
Assets Pledged	[1],[2]	659.1	730.6
Transportation And International Finance [Member] | TRS [Member]
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]
Secured Borrowing		1,200
Assets Pledged		1,800
North American Commercial Finance [Member]
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]
Secured Borrowing	[1],[2]	1,829.1	2,387
Assets Pledged	[1],[2]	3,882.8	4,307
North American Commercial Finance [Member] | Corporate Finance [Member]
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]
Secured Borrowing	[1],[2]	147.4	129.7
Assets Pledged	[1],[2]	161.1	141.6
North American Commercial Finance [Member] | Real Estate Finance [Member]
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]
Secured Borrowing	[1],[2]		125
Assets Pledged	[1],[2]		168
North American Commercial Finance [Member] | Commercial Services [Member]
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]
Secured Borrowing	[1],[2]	334.7	334.7
Assets Pledged	[1],[2]	1,705.5	1,644.6
North American Commercial Finance [Member] | Equipment Finance [Member]
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]
Secured Borrowing	[1],[2]	1,347	1,797.6
Assets Pledged	[1],[2]	$ 2,016.2	$ 2,352.8
[1]	As part of our liquidity management strategy, we pledge assets to secure financing transactions (which include securitizations), borrowings from the FHLB and FRB, and for other purposes as required or permitted by law.
[2]	At December 31, 2014, $255 million of advances were outstanding and $310 million of collateral was pledged and included in Corporate Finance and Real Estate Finance in the table above.At June 30, 2015 we had pledged assets (including collateral for the FRB discount window not in the table above) of $11.4 billion, which included $6.1 billion of loans (including amounts held for sale), $4.7 billion of operating lease assets, $0.4 billion of cash and $0.2 billion of investment securities.

Derivative Financial Instrume60

Derivative Financial Instruments (Narrative) (Details) $ in Millions	Jun. 30, 2015USD ($)item	Dec. 31, 2014USD ($)
Derivative [Line Items]
Maximum aggregate facility commitment amounts	$ 2,125
Aggregate actual adjusted qualifying borrowing base outstanding	1,002.8	$ 1,033.1
Liability recorded based on Company's valuation	$ 31.9	24.5
TRS [Member]
Derivative [Line Items]
Number of derivative financing facilities | item	2
Number of wholly owned subsidiaries | item	2
Notional amount of derivative	$ 1,122.2	$ 1,091.9
TRS [Member] | CIT Financial, Ltd. Facility [Member]
Derivative [Line Items]
Unutilized portion of facility accounted for as a derivative	1,500
TRS [Member] | CIT TRS Funding B.V. [Member]
Derivative [Line Items]
Unutilized portion of facility accounted for as a derivative	$ 625

Derivative Financial Instrume61

Derivative Financial Instruments (Fair And Notional Values Of Derivative Financial Instruments) (Details) - USD ($) $ in Millions		Jun. 30, 2015	Dec. 31, 2014
TRS [Member]
Derivatives, Fair Value [Line Items]
Notional Amount		$ 1,122.2	$ 1,091.9
Qualifying Hedges [Member]
Derivatives, Fair Value [Line Items]
Notional Amount	[1]	955.1	1,193.1
Asset Fair Value	[1]	41	74.7
Liability Fair Value	[1]	(7.1)
Qualifying Hedges [Member] | Foreign Currency Forward Exchange - Net Investment Hedges [Member]
Derivatives, Fair Value [Line Items]
Notional Amount	[1]	955.1	1,193.1
Asset Fair Value	[1]	41	74.7
Liability Fair Value	[1]	(7.1)
Non-Qualifying Hedges [Member]
Derivatives, Fair Value [Line Items]
Notional Amount	[1]	9,227.5	8,683.6
Asset Fair Value	[1]	60.5	93.3
Liability Fair Value	[1]	(81)	(62.3)
Non-Qualifying Hedges [Member] | Interest Rate Swaps [Member]
Derivatives, Fair Value [Line Items]
Notional Amount	[1]	2,203.6	1,902
Asset Fair Value	[1]	19.5	15.2
Liability Fair Value	[1]	(21.5)	(23.1)
Non-Qualifying Hedges [Member] | Written Options [Member]
Derivatives, Fair Value [Line Items]
Notional Amount	[1]	2,952.7	2,711.5
Liability Fair Value	[1]	(2.7)	(2.7)
Non-Qualifying Hedges [Member] | Purchased Options [Member]
Derivatives, Fair Value [Line Items]
Notional Amount	[1]	1,148.2	948.4
Asset Fair Value	[1]	0.7	0.8
Non-Qualifying Hedges [Member] | Foreign Currency Forward Exchange Contracts [Member]
Derivatives, Fair Value [Line Items]
Notional Amount	[1]	1,799.8	2,028.8
Asset Fair Value	[1]	40.1	77.2
Liability Fair Value	[1]	(24.9)	(12)
Non-Qualifying Hedges [Member] | TRS [Member]
Derivatives, Fair Value [Line Items]
Notional Amount	[1]	1,122.2	1,091.9
Liability Fair Value	[1]	(31.9)	(24.5)
Non-Qualifying Hedges [Member] | Equity Warrants [Member]
Derivatives, Fair Value [Line Items]
Notional Amount	[1]	1	1
Asset Fair Value	[1]	0.2	0.1
Qualifying And Non-Qualifying Hedges [Member]
Derivatives, Fair Value [Line Items]
Notional Amount	[1]	10,182.6	9,876.7
Asset Fair Value	[1]	101.5	168
Liability Fair Value	[1]	$ (88.1)	$ (62.3)
[1]	Presented on a gross basis

Derivative Financial Instrume62

Derivative Financial Instruments (Offsetting Of Derivative Assets And Liabilities) (Details) - USD ($) $ in Millions		Jun. 30, 2015	Dec. 31, 2014
Derivative Financial Instruments [Abstract]
Gross Amount Recognized, Derivative assets		$ 101.5	$ 168
Gross Amount Offset on the Statement of Financial Position, Derivative assets
Net Amount Of Asset Presented On The Statement Of Financial Position, Derivative assets		$ 101.5	$ 168
Gross Amounts not offset on Statement Of Financial Position, Financial Instruments, Derivative assets	[1]	(34.5)	(13.6)
Gross Amounts not offset on Statement of Financial Position, Cash Collateral Received (Pledged), Derivative assets	[1],[2]	(46)	(137.3)
Gross Amounts not offset on Statement of Financial Position, Net Amount, Derivative assets		21	17.1
Gross Amount Recognized, Derivative liabilities		$ (88.1)	$ (62.3)
Gross Amount Offset on the Statement of Financial Position, Derivative liabilities
Net Amount of (Liability) Presented on the Statement of Finacial Position, Derivative liabilities		$ (88.1)	$ (62.3)
Gross Amounts not offset on Statement Of Financial Position, Financial Instruments, Derivative liabilities	[1]	34.5	13.6
Gross Amounts not offset on Statement of Financial Position, Cash Collateral Received (Pledged), Derivative liabilities	[1],[2]	10.6	8.7
Gross Amounts not offset on Statement of Financial Position, Net Amount, Derivative liabilities		$ (43)	$ (40)
[1]	The Company's derivative transactions are governed by ISDA agreements that allow for net settlements of certain payments as well as offsetting of all contracts ("Derivative Financial Instruments") with a given counterparty in the event of bankruptcy or default of one of the two parties to the transaction. We believe our ISDA agreements meet the definition of a master netting arrangement or similar agreement for purposes of the above disclosure. In conjunction with the ISDA agreements, the Company has entered into collateral arrangements with its counterparties which provide for the exchange of cash depending on the change in the market valuation of the derivative contracts outstanding. Such collateral is available to be applied in settlement of the net balances upon an event of default by one of the counterparties.
[2]	Collateral pledged or received is included in Other assets or Other liabilities, respectively.

Derivative Financial Instrume63

Derivative Financial Instruments (Derivative Instrument Gains And Losses) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Derivative Instruments, Gain (Loss) [Line Items]
Derivative instrument - income statement impact	$ (46)	$ (32.6)	$ 39.5	$ 3.4
Interest Rate Options [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative instrument - income statement impact	(0.6)	(0.1)	(0.1)	(0.2)
Non-Qualifying Hedges [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative instrument - income statement impact	(46)	(32.6)	39.5	3.4
Non-Qualifying Hedges [Member] | Cross Currency Swaps - Net Investment Hedges [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative instrument - income statement impact		(1)		4.1
Non-Qualifying Hedges [Member] | Interest Rate Swaps [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative instrument - income statement impact	6.4		6.2	3.8
Non-Qualifying Hedges [Member] | Foreign Currency Forward Exchange Contracts [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative instrument - income statement impact	(45.5)	(42.6)	40.7	(13.5)
Non-Qualifying Hedges [Member] | Equity Warrants [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative instrument - income statement impact	0.1	(0.3)	0.1	(0.5)
Non-Qualifying Hedges [Member] | TRS [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative instrument - income statement impact	$ (6.4)	$ 11.4	$ (7.4)	$ 9.7

Derivative Financial Instrume64

Derivative Financial Instruments (Changes In AOCI Relating To Derivatives) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Derivative Instruments, Gain (Loss) [Line Items]
Derivatives - effective portion reclassified from AOCI to income		$ (3)	$ 4.2	$ (6.1)
Hedge ineffectiveness recorded directly in income
Total income statement impact		$ (3)	$ 4.2	$ (6.1)
Derivatives - effective portion recorded in OCI	$ (21.5)	(23.7)	62.3	(17.5)
Total change in OCI for the period	$ (21.5)	(20.7)	58.1	$ (11.4)
Foreign Currency Forward Contracts - Cash Flow Hedges [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Hedge ineffectiveness recorded directly in income
Derivatives - effective portion recorded in OCI				$ (0.1)
Total change in OCI for the period				(0.1)
Foreign Currency Forward Contracts - Net Investment Hedges [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivatives - effective portion reclassified from AOCI to income		$ (3)	$ 4.2	$ (6.1)
Hedge ineffectiveness recorded directly in income
Total income statement impact		$ (3)	$ 4.2	$ (6.1)
Derivatives - effective portion recorded in OCI	$ (21.5)	(23)	62.3	(18.5)
Total change in OCI for the period	$ (21.5)	$ (20)	$ 58.1	$ (12.4)
Cross Currency Swaps - Net Investment Hedges [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Hedge ineffectiveness recorded directly in income
Derivatives - effective portion recorded in OCI		$ (0.7)		$ 1.1
Total change in OCI for the period		$ (0.7)		$ 1.1

Fair Value (Assets And Liabilit

Fair Value (Assets And Liabilities Measured At Fair Value On A Recurring Basis) (Details) - USD ($) $ in Millions	Jun. 30, 2015	Dec. 31, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities AFS	$ 1,300.6	$ 1,116.5
Equity Securities AFS	14.3	14
Fair Value Measurements Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities AFS	1,300.6	1,116.5
Equity Securities AFS	14.3	14
Trading assets at fair value - derivatives	60.5	93.3
Derivative counterparty assets at fair value	41	74.7
Total Assets	1,416.4	1,298.5
Trading liabilities at fair value - derivatives	(81)	(62.3)
Derivative counterparty liabilities at fair value	(7.1)
Total Liabilities	(88.1)	(62.3)
Fair Value Measurements Recurring [Member] | Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities AFS	600.5	212.3
Equity Securities AFS	14.3	14
Total Assets	614.8	226.3
Fair Value Measurements Recurring [Member] | Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities AFS	700.1	904.2
Trading assets at fair value - derivatives	60.5	93.3
Derivative counterparty assets at fair value	41	74.7
Total Assets	801.6	1,072.2
Trading liabilities at fair value - derivatives	(47)	(35.7)
Derivative counterparty liabilities at fair value	(7.1)
Total Liabilities	$ (54.1)	$ (35.7)
Fair Value Measurements Recurring [Member] | Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities AFS
Equity Securities AFS
Trading assets at fair value - derivatives
Derivative counterparty assets at fair value
Total Assets
Trading liabilities at fair value - derivatives	$ (34)	$ (26.6)
Derivative counterparty liabilities at fair value
Total Liabilities	$ (34)	$ (26.6)

Fair Value (Assets Measured At

Fair Value (Assets Measured At Fair Value On A Non-Recurring Basis) (Details) - Fair Value Measurements Non-Recurring [Member] - USD ($) $ in Millions	Jun. 30, 2015	Dec. 31, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets Held for Sale	$ 388.7	$ 949.6
Impaired loans	49.6	13.2
Total	438.3	962.8
Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets Held for Sale	388.7	949.6
Impaired loans	49.6	13.2
Total	438.3	962.8
Total Gains And (Losses) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets Held for Sale	(21.5)	(73.6)
Impaired loans	(25.1)	(4.9)
Total	$ (46.6)	$ (78.5)

Fair Value (Changes In The Esti

Fair Value (Changes In The Estimated Fair Value Of The Financial Assets And Liabilities Measured On A Recurring Basis) (Details) - Fair Value Measurements Recurring [Member] - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2014	Jun. 30, 2015
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Beginning Balance		$ (26.6)
Gains or losses realized/unrealized Included in Other Income	$ 9.7	(7.4)
Ending Balance		$ (34)

Fair Value (Carrying And Estima

Fair Value (Carrying And Estimated Fair Values Of Financial Instruments) (Details) - USD ($) $ in Millions		6 Months Ended		12 Months Ended
		Jun. 30, 2015		Dec. 31, 2014	Jun. 30, 2014
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of loans		$ 14,100		$ 14,100
Investment Securities		1,692.9		1,550.3
Other assets subject to fair value disclosure and unsecured counterparty receivables		101.5		168
Deposits		(17,267.8)		(15,849.8)
Credit balances of factoring clients		(1,373.3)		(1,622.1)	$ (1,296.5)
Other liabilities subject to fair value disclosure		(2,766.9)		(2,888.8)
Unpaid Principal Balance	[1]	115.5		85.3
Impaired loans carrying amount		$ 62.1		$ 45.1
Carrying amount of impaired loans percentage of unpaid principal balance		54.00%		53.00%
Fair value of loans, percentage		98.10%		97.90%
Principal balance unpaid on impaired loans	[1]	$ 115.5		$ 85.3
Impaired loans unpaid principal balance with no specific allowance		21.4		29.2
Impaired loans carrying value with no specific allowance		17.1		21.2
Fair Value Measurements Non-Recurring [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets held for sale (excluding leases)		388.7		949.6
Fair Value Measurements Recurring [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative counterparty assets at fair value		41		74.7
Derivative counterparty liabilities at fair value		(7.1)
Carrying Value [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative assets at fair value - non-qualifying hedges		60.5		93.3
Derivative counterparty assets at fair value		41		74.7
Assets held for sale (excluding leases)		168.4		67
Fair value of loans		14,364.7		14,379.5
Securities purchased under agreements to resell		750		650
Investment Securities		1,692.9	[2]	1,550.3
Other assets subject to fair value disclosure and unsecured counterparty receivables		909.5	[3]	886.2
Deposits		(17,311)	[4]	(15,891.4)
Trading liabilities at fair value - derivatives		(81)		(62.3)
Derivative counterparty liabilities at fair value		(7.1)
Long-term borrowings		(16,619.6)	[4]	(18,657.9)
Credit balances of factoring clients		(1,373.3)	[5]	(1,622.1)
Other liabilities subject to fair value disclosure		(1,921.8)		(2,066.8)
Estimated Fair Value [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative assets at fair value - non-qualifying hedges		60.5		93.3
Derivative counterparty assets at fair value		41		74.7
Assets held for sale (excluding leases)		177.3		67.2
Fair value of loans		14,098.4		14,076.2
Securities purchased under agreements to resell		750		650
Investment Securities		1,697.3	[2]	1,558.3
Other assets subject to fair value disclosure and unsecured counterparty receivables		909.5	[3]	886.2
Deposits		(17,525.6)	[4]	(16,105.7)
Trading liabilities at fair value - derivatives		(81)		(62.3)
Derivative counterparty liabilities at fair value		(7.1)
Long-term borrowings		(17,070.6)	[4]	(19,244.4)
Credit balances of factoring clients		(1,373.3)	[5]	(1,622.1)
Other liabilities subject to fair value disclosure		(1,921.8)		(2,066.8)
Level 1 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Unsecured borrowings		10,800
Level 1 [Member] | Estimated Fair Value [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investment Securities		822.8	[2]	464.9
Level 2 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Unsecured borrowings				12,000
Secured long-term borrowings		2,700		3,300
Level 2 [Member] | Fair Value Measurements Recurring [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative counterparty assets at fair value		41		74.7
Derivative counterparty liabilities at fair value		(7.1)
Level 2 [Member] | Estimated Fair Value [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative assets at fair value - non-qualifying hedges		60.5		93.3
Derivative counterparty assets at fair value		41		74.7
Assets held for sale (excluding leases)		0.6
Fair value of loans		1,467.9		1,585.4
Securities purchased under agreements to resell		750		650
Investment Securities		748.2	[2]	956
Trading liabilities at fair value - derivatives		(47)		(35.7)
Derivative counterparty liabilities at fair value		(7.1)
Long-term borrowings		(13,955.5)	[4]	(15,906.3)
Level 3 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Unsecured borrowings		3,000
Secured long-term borrowings				3,200
Level 3 [Member] | Fair Value Measurements Non-Recurring [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets held for sale (excluding leases)		$ 388.7		$ 949.6
Level 3 [Member] | Fair Value Measurements Recurring [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative counterparty assets at fair value
Derivative counterparty liabilities at fair value
Level 3 [Member] | Estimated Fair Value [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets held for sale (excluding leases)		$ 176.7		$ 67.2
Fair value of loans		12,630.5		12,490.8
Investment Securities		126.3	[2]	137.4
Other assets subject to fair value disclosure and unsecured counterparty receivables		909.5	[3]	886.2
Deposits		(17,525.6)	[4]	(16,105.7)
Trading liabilities at fair value - derivatives		(34)		(26.6)
Long-term borrowings		(3,115.1)	[4]	(3,338.1)
Credit balances of factoring clients		(1,373.3)	[5]	(1,622.1)
Other liabilities subject to fair value disclosure		$ (1,921.8)		$ (2,066.8)
[1]	Interest income recorded for the six months ended June 30, 2015 and 2014 while the loans were impaired was $0.6 million and $6.2 million, respectively, of which $0 and $0.8 million was interest recognized using the cash-basis method of accounting. Interest income recorded for the year ended December 31, 2014 while the loans were impaired was $10.1 million, of which $0.7 million was interest recognized using the cash-basis method of accounting.
[2]	Other assets subject to fair value disclosure primarily include accrued interest receivable and miscellaneous receivables. These assets have carrying values that approximate fair value generally due to the short-term nature and are classified as level 3. The unsecured counterparty receivables primarily consist of amounts owed to CIT from GSI for debt discount, return of collateral posted to GSI and settlements resulting from market value changes to asset-backed securities underlying the GSI Facilities
[3]	Other assets subject to fair value disclosure primarily include accrued interest receivable and miscellaneous receivables. These assets have carrying values that approximate fair value generally due to the short-term nature and are classified as level 3. The unsecured counterparty receivables primarily consist of amounts owed to CIT from GSI for debt discount, return of collateral posted to GSI and settlements resulting from market value changes to asset-backed securities underlying the GSI Facilities
[4]	Deposits and long-term borrowings include accrued interest, which is included in "Other liabilities" in the Balance Sheet.
[5]	Other liabilities subject to fair value disclosure include accounts payable, accrued liabilities, customer security and maintenance deposits and miscellaneous liabilities. The fair value of these approximate carrying value and are classified as level 3.

Regulatory Capital (Narrative)

Regulatory Capital (Narrative) (Details) - Jun. 30, 2015 - item	Total
Number of risk-weighting categories	4
CET1 miinimum ratio	4.50%
Tier 1 Capital minimum ratio	6.00%
Total Capital minimum ratio	8.00%
Capital conservation buffer future yearly increase, percentage	0.625%
Final future percentage of capital conservation buffer	2.50%
US Treasury and Government [Member]
Risk rating category percentage	0.00%
Credit-Enhancing Interest-Only Strips Or Unsettled Security/Commodity Transactions [Member]
Risk rating category percentage	1250.00%
Minimum [Member]
Risk rating category percentage	0.00%
Midpoint 1 [Member]
Risk rating category percentage	20.00%
Midpoint 2 [Member]
Risk rating category percentage	50.00%
Maximum [Member]
Risk rating category percentage	100.00%

Regulatory Capital (Components

Regulatory Capital (Components Of Tier 1 Capital And Total Capital) (Details) - USD ($) $ in Millions	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013
Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items]
Total stockholders' equity	$ 8,807.1		$ 9,068.9
Less: Goodwill	(565.9)		(571.3)
Qualifying allowance for credit losses and other reserves	$ 350.9	$ 356.5	$ 346.4	$ 341	$ 352.6	$ 356.1
Common Equity Tier 1 Capital (to risk-weighted assets)	4.50%
Total Capital (to risk-weighted assets), Actual	8.00%
Tier 1 Capital (to risk-weighted assets), Actual	6.00%
Percentage of net unrealized pretax gains permitted in Tier 2 capital on AFS equity securities	45.00%		45.00%
CIT Group Inc [Member]
Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items]
Total stockholders' equity	$ 8,807.1		$ 9,068.9
Effect of certain items in accumulated other comprehensive loss excluded from Tier 1 Capital and qualifying noncontrolling interest	59.2		53
Adjusted total equity	8,866.3		9,121.9
Less: Goodwill	(485.2)		(571.3)
Disallowed deferred tax assets	(339.7)		(416.8)
Disallowed intangible assets			(25.7)
Investment in certain unconsolidated subsidiaries			(36.7)
Other Tier 1 components	(8.6)		(4.1)
Common Equity Tier One Capital	(8,032.8)		(8,067.3)
Tier 1 Capital	8,032.8		8,067.3
Qualifying allowance for credit losses and other reserves	389		381.8
Total qualifying capital	8,421.8		8,412.4
Risk-weighted assets	$ 55,396		$ 55,480.9
Common Equity Tier 1 Capital (to risk-weighted assets)	14.50%
Required Ratio for Capital Adequacy Purposes to be well capitalized	7.00%
Total Capital (to risk-weighted assets), Actual	14.50%		14.50%
Required Ratio for Capital Adequacy purposes to be well capitalized	8.50%		6.00%
Tier 1 Capital (to risk-weighted assets), Actual	15.20%		15.20%
Required Ratio for Capital Adequacy Purposes to be well capitalized	10.50%		10.00%
Tier 1 Leverage Ratio, Actual	17.70%		17.40%
Required Ratio for Capital Adequacy Purposes	4.00%		4.00%
CIT Bank [Member]
Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items]
Total stockholders' equity	$ 2,779.6		$ 2,716.4
Effect of certain items in accumulated other comprehensive loss excluded from Tier 1 Capital and qualifying noncontrolling interest	(0.2)		(0.2)
Adjusted total equity	2,779.4		2,716.2
Less: Goodwill	(167.8)		(167.8)
Disallowed intangible assets			(12.1)
Other Tier 1 components	(2.6)
Common Equity Tier One Capital	(2,609)		(2,536.3)
Tier 1 Capital	2,609		2,536.3
Qualifying allowance for credit losses and other reserves	260.3		245.1
Other Tier 2 components			0.1
Total qualifying capital	2,869.3		2,781.5
Risk-weighted assets	$ 20,770.4		$ 19,552.3
Common Equity Tier 1 Capital (to risk-weighted assets)	12.60%
Required Ratio for Capital Adequacy Purposes to be well capitalized	7.00%
Total Capital (to risk-weighted assets), Actual	12.60%		13.00%
Required Ratio for Capital Adequacy purposes to be well capitalized	8.50%		6.00%
Tier 1 Capital (to risk-weighted assets), Actual	13.80%		14.20%
Required Ratio for Capital Adequacy Purposes to be well capitalized	10.50%		10.00%
Tier 1 Leverage Ratio, Actual	12.20%		12.20%
Required Ratio for Capital Adequacy Purposes	4.00%		4.00%

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Income Tax Contingency [Line Items]
Effective Income Tax Rate Reconciliation, Percent	25.00%	8.00%	27.00%	9.00%
Provision for income taxes	$ (37.8)	$ (18.1)	$ (81.8)	$ (31.6)
Net operating loss (NOL) carry forwards					$ 5,700
Annual limitation on use of NOLs	264.7		264.7
Liability for uncertain tax positions	41.8		41.8		53.7
Liability for uncertain tax positions, estimated amount expected to be reduced	8.9		8.9
Liability for uncertain tax positions, reduction amount			5
Accrual for interest and penalties	12.8		12.8		13.3
Pre-Emergence [Member]
Income Tax Contingency [Line Items]
Net operating loss (NOL) carry forwards					3,000
No Longer Subject To Annual Limitation [Member] | Pre-Emergence [Member]
Income Tax Contingency [Line Items]
Net operating loss (NOL) carry forwards	1,000		1,000
Domestic Tax Authority [Member]
Income Tax Contingency [Line Items]
Deferred tax assets, valuation allowance					1,000
U.S. Federal [Member]
Income Tax Contingency [Line Items]
Deferred tax assets, valuation allowance					700
U.S. Federal [Member] | Pre-Emergence [Member]
Income Tax Contingency [Line Items]
Operating Loss Carryforwards					$ 300
Foreign Tax Authority [Member]
Income Tax Contingency [Line Items]
Deferred tax assets, valuation allowance	$ 141		$ 141

Stockholders' Equity (Narrative

Stockholders' Equity (Narrative) (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Stockholders' Equity [Abstract]
Change in income taxes associated with net unrealized gains on available for sale securities	$ (400,000)	$ (200,000)	$ (200,000)	$ (200,000)
Changes in benefit plans net gain/(loss) and prior service (cost)/credit	(100,000)	1,700,000	(100,000)	3,300,000
Foreign currency translation reclassification adjustments	0	500,000	3,400,000	2,300,000
Foreign currency translation reclassification adjustments, tax	6,000,000	0	(13,100,000)	0
Benefit plans net gain/(loss) and prior service (cost), tax	300,000	0	300,000	0
Unrealized gains (losses) on investments net of reclassification adjustments of net gains	0	0	0	0
Income taxes associated with changes in fair values of derivatives qualifying as cash flow hedges	0	0	0	0
Reclassification adjustments impacting net income related to changes in fair value of derivatives qualifying as cash flow hedges	$ 0	$ 0	$ 0	$ 0

Stockholders' Equity (Component

Stockholders' Equity (Components Of Accumulated Other ComprehensiveIncome (Loss)) (Details) - USD ($) $ in Millions	Jun. 30, 2015	Dec. 31, 2014	Jun. 30, 2014	Dec. 31, 2013
Stockholders' Equity [Abstract]
Foreign currency translation adjustments, Gross Unrealized	$ (87)	$ (75.4)
Changes in benefit plan net gain/(loss) and prior service (cost)/credit, Gross Unrealized	(59.3)	(58.7)
Unrealized net gains (losses) on available for sale securities, Gross Unrealized	0.3
Total accumulated other comprehensive loss, Gross Unrealized	(146)	(134.1)
Foreign currency translation adjustments, Income Taxes	(13.1)
Changes in benefit plan net gain/(loss) and prior service (cost)/credit, Income Taxes		0.2
Changes in fair values of derivatives qualifying as cash flow hedges, Income Taxes	0.5
Unrealized net gains (losses) on available for sale securities, Income Taxes	(0.2)
Total accumulated other comprehensive loss, Income Taxes	(12.8)	0.2
Foreign currency translation adjustments, Net Unrealized	(100.1)	(75.4)
Changes in benefit plan net gain/(loss) and prior service (cost)/credit, Net Unrealized	(58.8)	(58.5)
Unrealized net gains (losses) on available for sale securities, Net Unrealized	0.1
Total accumulated other comprehensive loss, Net Unrealized	$ (158.8)	$ (133.9)	$ (77.5)	$ (73.6)

Stockholders' Equity (Changes I

Stockholders' Equity (Changes In Accumulated Other Comprehensive Income By Component) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance			$ (133.9)	$ (73.6)
AOCI activity before reclassification			(28.4)	(9.7)
Amounts reclassified from AOCI	$ 0.1	$ 2.4	3.5	5.8
Net current period AOCI			(24.9)	(3.9)
Balance	(158.8)	(77.5)	(158.8)	(77.5)
Changes In Benefit Plan Net Gain/(Loss) And Prior Service (Cost)/Credit [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance			(75.4)	(49.4)
AOCI activity before reclassification			(28.1)	(9.6)
Amounts reclassified from AOCI			3.4	2.3
Net current period AOCI			(24.7)	(7.3)
Balance	(100.1)	(56.7)	(100.1)	(56.7)
Foreign Currency Translation Adjustments[Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance			(58.5)	(24.1)
AOCI activity before reclassification			(0.4)	(0.1)
Amounts reclassified from AOCI			0.1	3.3
Net current period AOCI			(0.3)	3.2
Balance	(58.8)	(20.9)	(58.8)	(20.9)
Unrealized Gains (Losses) On Available For Sale Securities [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance				(0.2)
AOCI activity before reclassification				(0.1)
Net current period AOCI				(0.1)
Balance		(0.3)		(0.3)
Changes In Fair Values Of Derivatives Qualifying As Cash Flow Hedges [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance				0.1
AOCI activity before reclassification			0.1	0.1
Amounts reclassified from AOCI				0.2
Net current period AOCI			0.1	0.3
Balance	$ 0.1	$ 0.4	$ 0.1	$ 0.4

Stockholders' Equity (Reclassif

Stockholders' Equity (Reclassifications Out Of Accumulated Other Comprehensive Income) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Accumulated Other Comprehensive Income (Loss) [Line Items]
(Gains)/Losses, Gross Amount	$ 0.1	$ 2.5	$ 3.5	$ 5.9
(Gains)/Losses, Tax	0	(0.1)	0	(0.1)
Net Amount	0.1	2.4	3.5	5.8
Foreign Currency Translation Adjustments[Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Net Amount			0.1	3.3
Foreign Currency Translation Adjustments[Member] | Operating Expense [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
(Gains)/Losses, Gross Amount		0.5	3.4	2.3
Net Amount		0.5	3.4	2.3
Changes In Benefit Plan Net Gain/(Loss) And Prior Service (Cost)/Credit [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Net Amount			3.4	2.3
Changes In Benefit Plan Net Gain/(Loss) And Prior Service (Cost)/Credit [Member] | Other Expense [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
(Gains)/Losses, Gross Amount	0.1	1.7	0.1	3.3
Net Amount	$ 0.1	1.7	$ 0.1	3.3
Changes In Fair Values Of Derivatives Qualifying As Cash Flow Hedges [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Net Amount				0.2
Unrealized Gains (Losses) On Available For Sale Securities [Member] | Other Income [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
(Gains)/Losses, Gross Amount		0.3		0.3
(Gains)/Losses, Tax		(0.1)		(0.1)
Net Amount		$ 0.2		$ 0.2

Commitments (Narrative) (Detail

Commitments (Narrative) (Details) $ in Millions	6 Months Ended
	Jun. 30, 2015USD ($)item	Dec. 31, 2014USD ($)
Commitments [Line Items]
Financing commitments on which criteria for funding have not been completed	$ 751	$ 355
Typical notice period	90 days
Financing commitments to Trade Finance clients that are cancelable only after a notice period, amount	$ 394	112
Additional funding commitments	$ 1,500	1,300
Trade receivable terms	60 days
DPA credit protection provided to clients	$ 1,310	1,775
DPA credit line agreements net of Deferred Purchase Agreement credit protection	$ 90	79
DPA credit line agreements, cancellation notice period	90 days
Other liabilities	$ 2,766.9	2,888.8
Aircraft remaining to be purchased, contractual commitments | item	151
Equipment purchase commitment	$ 200
Deferred Purchase Agreements [Member]
Commitments [Line Items]
Other liabilities	$ 4.2	$ 5.2
Contractual Commitments [Member]
Commitments [Line Items]
Railcars | item	11,900

Commitments (Summary Of Credit-

Commitments (Summary Of Credit-Related Commitments And Purchase And Funding Commitments) (Details) - USD ($) $ in Millions	Jun. 30, 2015	Dec. 31, 2014
Commitments [Abstract]
Financing and leasing assets - Due to Expire Within One Year	$ 1,082.1
Financing and leasing assets - Due to Expire After One Year	4,157.3
Financing and leasing assets - Total Outstanding	5,239.4	$ 4,747.9
Standby letters of credit - Due to Expire Within One Year	41.8
Standby letters of credit - Due to Expire After One Year	313.1
Standby letters of credit - Total Outstanding	354.9	360.1
Other letters of credit - Due to Expire Within One Year	30.7
Other letters of credit - Total Outstanding	30.7	28.3
Deferred purchase credit protection agreements - Due to Expire Within One Year	1,400.4
Deferred purchase credit protection agreements - Total Outstanding	1,400.4	1,854.4
Guarantees, acceptances and other recourse obligations - Due to Expire Within One Year	1.3
Guarantees, acceptances and other recourse obligations - Total Outstanding	1.3	2.8
Aerospace manufacturer purchase commitments - Due To Expire Within One Year	1,033.4
Aerospace manufacturer purchase commitments - Due To Expire After One Year	9,606.1
Aerospace manufacturer purchase commitments - Total Outstanding	10,639.5	10,820.4
Rail and other manufacturer purchase commitments - Due to Expire Within One Year	1,009.3
Rail and other manufacturer purchase commitments - Due to Expire After One Year	559.3
Rail and other manufacturer purchase commitments - Total Outstanding	$ 1,568.6	$ 1,323.2

Contingencies (Details)

Contingencies (Details) BRL in Thousands, $ in Thousands	6 Months Ended
	Jun. 30, 2015BRLdefendantlawsuit	Jun. 30, 2015USD ($)lawsuit	Jul. 06, 2013item
Contingencies [Line Items]
Reasonably possible litigation losses in excess of established reserves and insurance | $		$ 75,000
Number of locomotives			5
Number of rail tank cars			72
Potential aggregate exponsure in taxes, fines and interest	BRL 77,500	25,000
Itu And Cascavel [Member] | Tax Years 2006-2011 [Member]
Contingencies [Line Items]
Tax assessments and penalties claimed	528	170
Taxes Paid To Espirito Santo [Member]
Contingencies [Line Items]
Tax assessments and penalties claimed	66,700	21,500
Sao Paulo [Member] | Tax Years 2006 to 2009 [Member]
Contingencies [Line Items]
Tax assessments and penalties claimed	73,000	23,500
Sao Paulo [Member] | Tax Years 2004-2007 [Member]
Contingencies [Line Items]
Tax assessments and penalties claimed	BRL 4,000	$ 1,300
Alleged actual tax rate paid	8.80%
Required tax rate	18.00%
Lac-Mgantic, Quebec Derailment [Member]
Contingencies [Line Items]
Number of deceased			40
Number of buildings destroyed			30
Number of lawsuits filed | lawsuit	20
Number of lawsuits in which parent company is named defendant | lawsuit	7	7
Number of other defendants | defendant	13
Number of cases not consolidated | lawsuit	2	2
CIT Group Inc. [Member] | Lac-Mgantic, Quebec Derailment [Member]
Contingencies [Line Items]
Number of rail tank cars			9
Number of rail tank cars for which parent company is lessor to third party			2

Business Segment Information (S

Business Segment Information (Segment Profit And Assets) (Details) - USD ($) $ in Millions	3 Months Ended			6 Months Ended
	Jun. 30, 2015		Jun. 30, 2014	Jun. 30, 2015		Jun. 30, 2014	Dec. 31, 2014
Segment Reporting Information [Line Items]
Interest income	$ 283.8		$ 309.8	$ 564.8		$ 612
Interest expense	(265.2)		(262.2)	(536.5)		(534.1)
Provision for credit losses	(18.4)		(10.2)	(53)		(46.9)
Rental income on operating leases	531.7		519.6	1,062.3		1,011.5
Other income	63.5		93.7	149.9		164.8
Depreciation on operating lease equipment	(157.8)		(157.3)	(314.6)		(306.1)
Maintenance and other operating lease expenses	(49.4)		(49)	(95.5)		(100.6)
Operating expenses	(235)		(225)	(476.6)		(458.5)
Loss on debt extinguishment	(0.1)		(0.4)	(0.1)		(0.4)
Income (loss) before (provision) benefit for income taxes	153.1		219	300.7		341.7
Loans	19,649.3		18,604.4	19,649.3		18,604.4	$ 19,495
Credit balances of factoring clients	(1,373.3)		(1,296.5)	(1,373.3)		(1,296.5)	(1,622.1)
Assets held for sale	1,086.8	[1]	1,328.9	1,086.8	[1]	1,328.9	1,218.1	[1]
Operating lease equipment, net	15,109.6	[1]	14,788.3	15,109.6	[1]	14,788.3	14,930.4	[1]
Transportation And International Finance [Member]
Segment Reporting Information [Line Items]
Interest income	69.9		72.2	138.3		148.9
Interest expense	(164.9)		(155.1)	(333.5)		(315.8)
Provision for credit losses	0.4		(8.3)	(10.2)		(20.7)
Rental income on operating leases	498.6		485.1	996.1		944.7
Other income	16.6		10.4	50.9		17.6
Depreciation on operating lease equipment	(136.7)		(131.6)	(272.8)		(253.3)
Maintenance and other operating lease expenses	(49.4)		(49)	(95.5)		(100.6)
Operating expenses	(77.6)		(75.5)	(159.4)		(155)
Income (loss) before (provision) benefit for income taxes	156.9		148.2	313.9		265.8
Loans	3,717.1		3,228.3	3,717.1		3,228.3	3,558.9
Assets held for sale	705.5		671.7	705.5		671.7
Operating lease equipment, net	14,827.9		14,512.9	14,827.9		14,512.9
North American Commercial Finance [Member]
Segment Reporting Information [Line Items]
Interest income	199		208.8	395.1		402.2
Interest expense	(73.3)		(68.1)	(147.4)		(137)
Provision for credit losses	(18.8)		(2.6)	(42.8)		(25.8)
Rental income on operating leases	27.9		25.1	55.1		47.9
Other income	69.2		69.7	135.5		131.5
Depreciation on operating lease equipment	(21.1)		(20)	(41.8)		(41.9)
Operating expenses	(135.4)		(120.2)	(270.1)		(241.7)
Income (loss) before (provision) benefit for income taxes	47.5		92.7	83.6		135.2
Loans	15,932.2		15,376.1	15,932.2		15,376.1	15,936
Credit balances of factoring clients	(1,373.3)		(1,296.5)	(1,373.3)		(1,296.5)
Assets held for sale	88.3		33.7	88.3		33.7
Operating lease equipment, net	281.7		240.2	281.7		240.2
Non-Strategic Portfolios [Member]
Segment Reporting Information [Line Items]
Interest income	10.2		25.6	22.5		54
Interest expense	(9.2)		(23)	(20)		(47.9)
Provision for credit losses	0		0.7	0		(0.3)
Rental income on operating leases	5.2		9.4	11.1		18.9
Other income	(5.7)		3.9	(13.5)		8.3
Depreciation on operating lease equipment			(5.7)			(10.9)
Operating expenses	(10.9)		(20.5)	(23.3)		(39.7)
Income (loss) before (provision) benefit for income taxes	(10.4)		(9.6)	(23.2)		(17.6)
Loans							$ 0.1
Assets held for sale	293		623.5	293		623.5
Operating lease equipment, net			35.2			35.2
Corporate And Other [Member]
Segment Reporting Information [Line Items]
Interest income	4.7		3.2	8.9		6.9
Interest expense	(17.8)		(16)	(35.6)		(33.4)
Provision for credit losses	0			0		(0.1)
Other income	(16.6)		9.7	(23)		7.4
Operating expenses	(11.1)		(8.8)	(23.8)		(22.1)
Loss on debt extinguishment	(0.1)		(0.4)	(0.1)		(0.4)
Income (loss) before (provision) benefit for income taxes	$ (40.9)		$ (12.3)	$ (73.6)		$ (41.7)
[1]	The following table presents information on assets and liabilities related to Variable Interest Entities (VIEs) that are consolidated by the Company. The difference between VIE total assets and total liabilities represents the Company's interests in those entities, which were eliminated in consolidation. The assets of the consolidated VIEs will be used to settle the liabilities of those entities and, except for the Company's interest in the VIEs, are not available to the creditors of CIT or any affiliates of CIT.

Subsequent Events (Details)

Subsequent Events (Details) - USD ($) shares in Thousands, $ in Millions	1 Months Ended	6 Months Ended
	Jul. 31, 2015	Jun. 30, 2015		Dec. 31, 2014	[1]	Jun. 30, 2014
Subsequent Event [Line Items]
Assets held for sale		$ 1,086.8	[1]	$ 1,218.1		$ 1,328.9
Mexico [Member]
Subsequent Event [Line Items]
Assets held for sale		200
Gain on discontinued operation		19
Subsequent Event [Member] | OneWest Bank, N.A. [Member]
Subsequent Event [Line Items]
Cash consideration paid	$ 1,900
Shares of equity paid	168
Subsequent Event [Member] | OneWest Bank, N.A. [Member] | Minimum [Member]
Subsequent Event [Line Items]
Assets of acquiree		21,000
Deposits acquired		$ 14,000
Subsequent Event [Member] | OneWest Bank, N.A. [Member] | Common Stock [Member]
Subsequent Event [Line Items]
Shares of equity paid	30,900
Value of equity shares paid	$ 1,500
Subsequent Event [Member] | OneWest Bank, N.A. [Member] | Restricted Stock Units (RSUs) [Member]
Subsequent Event [Line Items]
Value of equity shares paid	8
Cash Retained By C I T Group - Holdback For Potential Liabilities [Member] | Subsequent Event [Member] | OneWest Bank, N.A. [Member]
Subsequent Event [Line Items]
Cash consideration paid	116
Cash Retained By CIT Group - Holdback For Expenses Of Shareholders' Representative [Member] | Subsequent Event [Member] | OneWest Bank, N.A. [Member]
Subsequent Event [Line Items]
Cash consideration paid	$ 2
[1]	The following table presents information on assets and liabilities related to Variable Interest Entities (VIEs) that are consolidated by the Company. The difference between VIE total assets and total liabilities represents the Company's interests in those entities, which were eliminated in consolidation. The assets of the consolidated VIEs will be used to settle the liabilities of those entities and, except for the Company's interest in the VIEs, are not available to the creditors of CIT or any affiliates of CIT.

Uncategorized Items - cit-20150

Label	Element	Value
Net income	us-gaap_NetIncomeLoss	$ 115.3
Net income	us-gaap_NetIncomeLoss	246.9
Fair Value Measurements Recurring [Member]
Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset And Liability Value	cit_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetAndLiabilityValue	$ (9.7)