When the CEO of CIT came into office he made two changes. He moved the company to swanky NY offices from their humble New Jersey headquarters. In addition, he got rid of the old loan officers who he believed were prudish in giving out loans and hired loan officers who got it.
It is nice to see that some of the mistakes of an unfortunate era are being corrected. For the most part we are back to business as usual and these occurrences are few and far between.