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Cit Group Inc – ‘10-Q’ for 3/31/18 – ‘EX-101.LAB’

On: Friday, 5/4/18, at 4:34pm ET · For: 3/31/18 · Accession #: 1628280-18-5979 · File #: 1-31369

  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 5/04/18  Cit Group Inc                     10-Q        3/31/18  112:25M                                    Workiva Inc Wde… FA01/FA

Quarterly Report — Form 10-Q — Sect. 13 / 15(d) – SEA’34
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-Q        Quarterly Report                                    HTML   2.13M 
 2: EX-10.23    Material Contract                                   HTML    170K 
 3: EX-10.24    Material Contract                                   HTML    111K 
 4: EX-12.1     Statement re: Computation of Ratios                 HTML     43K 
 5: EX-31.1     Certification -- §302 - SOA'02                      HTML     38K 
 6: EX-31.2     Certification -- §302 - SOA'02                      HTML     38K 
 7: EX-32.1     Certification -- §906 - SOA'02                      HTML     34K 
 8: EX-32.2     Certification -- §906 - SOA'02                      HTML     34K 
15: R1          Document and Entity Information                     HTML     51K 
16: R2          Condensed Consolidated Balance Sheets (Unaudited)   HTML    128K 
17: R3          Condensed Consolidated Balance Sheets (Unaudited)   HTML     66K 
                (Parenthetical)                                                  
18: R4          Condensed Consolidated Statements of Income         HTML    139K 
                (Unaudited)                                                      
19: R5          Condensed Consolidated Statements of Comprehensive  HTML     52K 
                Income (Unaudited)                                               
20: R6          Condensed Consolidated Statements of Stockholders'  HTML     67K 
                Equity (Unaudited)                                               
21: R7          Condensed Consolidated Statements of Cash Flows     HTML    138K 
                (Unaudited)                                                      
22: R8          Business and Summary of Significant Accounting      HTML     87K 
                Policies                                                         
23: R9          Discontinued Operations                             HTML    155K 
24: R10         Loans                                               HTML    656K 
25: R11         Allowance For Loan Losses                           HTML    119K 
26: R12         Investment Securities                               HTML    275K 
27: R13         Borrowings                                          HTML    165K 
28: R14         Derivative Financial Instruments                    HTML    215K 
29: R15         Fair Value                                          HTML    475K 
30: R16         Stockholders' Equity                                HTML    161K 
31: R17         Regulatory Capital                                  HTML     94K 
32: R18         Income Taxes                                        HTML     43K 
33: R19         Commitments                                         HTML     91K 
34: R20         Contingencies                                       HTML     47K 
35: R21         Business Segment Information                        HTML    139K 
36: R22         Subsequent Events                                   HTML     37K 
37: R23         Business and Summary of Significant Accounting      HTML    104K 
                Policies (Policies)                                              
38: R24         Business and Summary of Significant Accounting      HTML     51K 
                Policies (Tables)                                                
39: R25         Discontinued Operations (Tables)                    HTML    154K 
40: R26         Loans (Tables)                                      HTML    641K 
41: R27         Allowance For Loan Losses (Tables)                  HTML    119K 
42: R28         Investment Securities (Tables)                      HTML    278K 
43: R29         Borrowings (Tables)                                 HTML    155K 
44: R30         Derivative Financial Instruments (Tables)           HTML    266K 
45: R31         Fair Value (Tables)                                 HTML    438K 
46: R32         Stockholders' Equity (Tables)                       HTML    158K 
47: R33         Regulatory Capital (Tables)                         HTML     90K 
48: R34         Commitments (Tables)                                HTML     70K 
49: R35         Business Segment Information (Tables)               HTML    140K 
50: R36         Business and Summary of Significant Accounting      HTML     54K 
                Policies (Narrative) (Details)                                   
51: R37         Discontinued Operations (Schedule of Condensed      HTML     61K 
                Balance Sheet Aerospace Discontinued Operations)                 
                (Details)                                                        
52: R38         Discontinued Operations (Schedule of Condensed      HTML     82K 
                Statements of Income and Cash Flow of Aerospace                  
                Discontinued Operations) (Details)                               
53: R39         Discontinued Operations (Narrative) (Details)       HTML     53K 
54: R40         Discontinued Operations (Schedule of Condensed      HTML     81K 
                Balance Sheet Financial Freedom Discontinued                     
                Operations) (Details)                                            
55: R41         Discontinued Operations (Schedule of Condensed      HTML     77K 
                Statements of Income and Cash Flow of Financial                  
                Freedom Discontinued Operations) (Details)                       
56: R42         Discontinued Operations (Schedule of Condensed      HTML     63K 
                Combined Balance Sheet of Discontinued Operations)               
                (Details)                                                        
57: R43         Discontinued Operations (Schedule of Condensed      HTML     73K 
                Combined Statements of Income and Cash Flow of                   
                Discontinued Operations) (Details)                               
58: R44         Loans (Schedule of Loans by Product) (Details)      HTML     49K 
59: R45         Loans (Schedule of Loans by Segment, Based on       HTML     50K 
                Obligor Location) (Details)                                      
60: R46         Loans (Components of Net Investment in Loans)       HTML     39K 
                (Details)                                                        
61: R47         Loans (Commercial Loans and Held-For-Sale Loans -   HTML    127K 
                By Risk Rating) (Details)                                        
62: R48         Loans (Narrative) (Details)                         HTML    105K 
63: R49         Loans (Schedule of Consumer Loan LTV                HTML     86K 
                Distributions) (Details)                                         
64: R50         Loans (Loans and Held For Sale Loans - Delinquency  HTML    120K 
                Status) (Details)                                                
65: R51         Loans (Loans on Non-accrual Status) (Details)       HTML     84K 
66: R52         Loans (Schedule of Loans In Process of Foreclosure  HTML     44K 
                and OREO) (Details)                                              
67: R53         Loans (Impaired Loans) (Details)                    HTML     86K 
68: R54         Loans (Purchased Credit Impaired Loans) (Details)   HTML     59K 
69: R55         Loans (Summary of Commercial PCI Loans by Credit    HTML     50K 
                Quality) (Details)                                               
70: R56         Loans (Schedule of Changes to the Accretable Yield  HTML     45K 
                for PCI Loans) (Details)                                         
71: R57         Allowance For Loan Losses (Schedule of Allowance    HTML    102K 
                for Loan Losses and Recorded Investment in Finance               
                Receivables) (Details)                                           
72: R58         Investment Securities (Schedule of Investment       HTML     61K 
                Securities) (Details)                                            
73: R59         Investment Securities (Narrative) (Details)         HTML     69K 
74: R60         Investment Securities (Schedule of Interest and     HTML     43K 
                Dividend Income) (Details)                                       
75: R61         Investment Securities (Amortized Cost and Fair      HTML     72K 
                Value of AFS and HTM Securities) (Details)                       
76: R62         Investment Securities (Schedule of Amortized Cost   HTML    104K 
                and Fair Value Maturities with Changes Recorded in               
                Net Income) (Details)                                            
77: R63         Investment Securities (Schedule of AFS and HTM -    HTML     74K 
                Estimated Unrealized Losses) (Details)                           
78: R64         Investment Securities (Changes in Accretable Yield  HTML     51K 
                for Purchased Credit-Impaired Securities)                        
                (Details)                                                        
79: R65         Borrowings (Schedule of Long-Term Borrowings)       HTML     56K 
                (Details)                                                        
80: R66         Borrowings (Narrative) (Details)                    HTML    149K 
81: R67         Borrowings (Schedule of Senior Unsecured Notes)     HTML     56K 
                (Details)                                                        
82: R68         Borrowings (Schedule of FHLB Advances with Pledged  HTML     38K 
                Assets) (Details)                                                
83: R69         Borrowings (Schedule of Structured Financings and   HTML     55K 
                Pledged Assets) (Details)                                        
84: R70         Borrowings (Assets and Liabilities in               HTML     56K 
                Unconsolidated VIEs) (Details)                                   
85: R71         Derivative Financial Instruments (Fair and          HTML     81K 
                Notional Values of Derivative Financial                          
                Instruments) (Details)                                           
86: R72         Derivative Financial Instruments (Offsetting of     HTML     80K 
                Derivative Assets and Liabilities) (Details)                     
87: R73         Derivative Financial Instruments (Narrative)        HTML     58K 
                (Details)                                                        
88: R74         Derivative Financial Instruments Derivative         HTML     41K 
                Financial Instruments (Fair Value Hedges)                        
                (Details)                                                        
89: R75         Derivative Financial Instruments (Derivative        HTML     55K 
                Instrument Gains and Losses) (Details)                           
90: R76         Derivative Financial Instruments (Changes in AOCI   HTML     48K 
                Relating to Derivatives) (Details)                               
91: R77         Fair Value (Assets and Liabilities Measured at      HTML     85K 
                Fair Value on a Recurring Basis) (Details)                       
92: R78         Fair Value (Narrative) (Details)                    HTML    103K 
93: R79         Fair Value (Quantitative Information about Level 3  HTML     88K 
                Fair Value Measurements-Recurring) (Details)                     
94: R80         Fair Value (Changes in Estimated Fair Value for     HTML     81K 
                Financial Assets and Liabilities Measured on                     
                Recurring Basis) (Details)                                       
95: R81         Fair Value (Carrying Value of Assets Measured at    HTML     69K 
                Fair Value on a Non-Recurring Basis) (Details)                   
96: R82         Fair Value (Carrying and Estimated Fair Values of   HTML    139K 
                Financial Instruments) (Details)                                 
97: R83         Stockholder's Equity (Schedule of Common Stock      HTML     56K 
                Activity) (Details)                                              
98: R84         Stockholders' Equity (Narrative) (Details)          HTML     63K 
99: R85         Stockholders' Equity (Components of Accumulated     HTML     49K 
                Other Comprehensive Income (Loss) ("Aoci"))                      
                (Details)                                                        
100: R86         Stockholders' Equity (Changes in Accumulated Other  HTML     65K  
                Comprehensive Income (Loss) by Component)                        
                (Details)                                                        
101: R87         Stockholders' Equity (Reclassifications out of      HTML     57K  
                AOCI) (Details)                                                  
102: R88         Regulatory Capital (Tier 1 Capital and Total        HTML     78K  
                Capital Components) (Details)                                    
103: R89         Income Taxes (Narrative) (Details)                  HTML     58K  
104: R90         Commitments (Summary of Commitments) (Details)      HTML     73K  
105: R91         Commitments (Narrative) (Details)                   HTML     79K  
106: R92         Contingencies (Narrative) (Details)                 HTML     41K  
107: R93         Business Segment Information (Segment Pre-Tax       HTML    111K  
                Income (Loss)) (Details)                                         
108: R94         Subsequent Events (Details)                         HTML     65K  
109: R9999       Uncategorized Items - cit-20180331.xml              HTML     35K  
111: XML         IDEA XML File -- Filing Summary                      XML    216K  
110: EXCEL       IDEA Workbook of Financial Reports                  XLSX    175K  
 9: EX-101.INS  XBRL Instance -- cit-20180331                        XML   8.82M 
11: EX-101.CAL  XBRL Calculations -- cit-20180331_cal                XML    350K 
12: EX-101.DEF  XBRL Definitions -- cit-20180331_def                 XML   1.78M 
13: EX-101.LAB  XBRL Labels -- cit-20180331_lab                      XML   2.82M 
14: EX-101.PRE  XBRL Presentations -- cit-20180331_pre               XML   2.11M 
10: EX-101.SCH  XBRL Schema -- cit-20180331                          XSD    292K 
112: ZIP         XBRL Zipped Folder -- 0001628280-18-005979-xbrl      Zip    563K

‘EX-101.LAB’ — XBRL Labels — cit-20180331_lab

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<link:label id="lab_dei_EntityFilerCategory_89A94CA607F50BE11AA049EF99300335_terseLabel_en-US" xlink:label="lab_dei_EntityFilerCategory_168F39D483FD508F9B5E662107A891FA" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Entity Filer Category </link:label>

<link:label id="lab_dei_EntityFilerCategory_89A94CA607F50BE11AA049EF99300335_label_en-US" xlink:label="lab_dei_EntityFilerCategory_168F39D483FD508F9B5E662107A891FA" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Entity Filer Category </link:label>

<link:loc xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityFilerCategory" xlink:label="loc_dei_EntityFilerCategory_168F39D483FD508F9B5E662107A891FA" xlink:type="locator"/>

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<link:label id="lab_dei_EntityCommonStockSharesOutstanding_8A9897C8C7ADB960D97749EF993034C9_terseLabel_en-US" xlink:label="lab_dei_EntityCommonStockSharesOutstanding_62A917B7579F51E8875AA7B4542BAF5E" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Entity Common Stock, Shares Outstanding </link:label>

<link:label id="lab_dei_EntityCommonStockSharesOutstanding_8A9897C8C7ADB960D97749EF993034C9_label_en-US" xlink:label="lab_dei_EntityCommonStockSharesOutstanding_62A917B7579F51E8875AA7B4542BAF5E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Entity Common Stock, Shares Outstanding </link:label>

<link:loc xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityCommonStockSharesOutstanding" xlink:label="loc_dei_EntityCommonStockSharesOutstanding_62A917B7579F51E8875AA7B4542BAF5E" xlink:type="locator"/>

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<link:label id="lab_us-gaap_IncomeStatementAbstract_D99199C898C0515EACD621FAC2BD5842_label_en-US" xlink:label="lab_us-gaap_IncomeStatementAbstract_D99199C898C0515EACD621FAC2BD5842" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Income Statement [Abstract] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_IncomeStatementAbstract" xlink:label="loc_us-gaap_IncomeStatementAbstract_D99199C898C0515EACD621FAC2BD5842" xlink:type="locator"/>

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<link:label id="lab_us-gaap_InterestIncomeExpenseNetAbstract_B9267DB09822F4DF4A6A21FAC2BDF9E6_terseLabel_en-US" xlink:label="lab_us-gaap_InterestIncomeExpenseNetAbstract_B9267DB09822F4DF4A6A21FAC2BDF9E6" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Interest income </link:label>

<link:label id="lab_us-gaap_InterestIncomeExpenseNetAbstract_B9267DB09822F4DF4A6A21FAC2BDF9E6_label_en-US" xlink:label="lab_us-gaap_InterestIncomeExpenseNetAbstract_B9267DB09822F4DF4A6A21FAC2BDF9E6" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Interest Income (Expense), Net [Abstract] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_InterestIncomeExpenseNetAbstract" xlink:label="loc_us-gaap_InterestIncomeExpenseNetAbstract_B9267DB09822F4DF4A6A21FAC2BDF9E6" xlink:type="locator"/>

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<link:label id="lab_us-gaap_InterestAndFeeIncomeLoansAndLeases_9E071AB8A21C2D994E2221FAC2BD367D_terseLabel_en-US" xlink:label="lab_us-gaap_InterestAndFeeIncomeLoansAndLeases_9E071AB8A21C2D994E2221FAC2BD367D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Interest and fees on loans </link:label>

<link:label id="lab_us-gaap_InterestAndFeeIncomeLoansAndLeases_9E071AB8A21C2D994E2221FAC2BD367D_label_en-US" xlink:label="lab_us-gaap_InterestAndFeeIncomeLoansAndLeases_9E071AB8A21C2D994E2221FAC2BD367D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Interest and Fee Income, Loans and Leases </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_InterestAndFeeIncomeLoansAndLeases" xlink:label="loc_us-gaap_InterestAndFeeIncomeLoansAndLeases_9E071AB8A21C2D994E2221FAC2BD367D" xlink:type="locator"/>

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<link:label id="lab_us-gaap_InterestAndDividendIncomeSecurities_77F5C40625A0FEB951D721FAC2BDB652_terseLabel_en-US" xlink:label="lab_us-gaap_InterestAndDividendIncomeSecurities_77F5C40625A0FEB951D721FAC2BDB652" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Other interest and dividends </link:label>

<link:label id="lab_us-gaap_InterestAndDividendIncomeSecurities_77F5C40625A0FEB951D721FAC2BDB652_label_en-US" xlink:label="lab_us-gaap_InterestAndDividendIncomeSecurities_77F5C40625A0FEB951D721FAC2BDB652" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Interest and Dividend Income, Securities, Operating </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_InterestAndDividendIncomeSecurities" xlink:label="loc_us-gaap_InterestAndDividendIncomeSecurities_77F5C40625A0FEB951D721FAC2BDB652" xlink:type="locator"/>

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<link:label id="lab_us-gaap_InterestAndDividendIncomeOperating_33A743AC4710D6AEF76921FAC2BD4573_totalLabel_en-US" xlink:label="lab_us-gaap_InterestAndDividendIncomeOperating_33A743AC4710D6AEF76921FAC2BD4573" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US"> Interest income </link:label>

<link:label id="lab_us-gaap_InterestAndDividendIncomeOperating_33A743AC4710D6AEF76921FAC2BD4573_label_en-US" xlink:label="lab_us-gaap_InterestAndDividendIncomeOperating_33A743AC4710D6AEF76921FAC2BD4573" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Interest and Dividend Income, Operating </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_InterestAndDividendIncomeOperating" xlink:label="loc_us-gaap_InterestAndDividendIncomeOperating_33A743AC4710D6AEF76921FAC2BD4573" xlink:type="locator"/>

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<link:label id="lab_us-gaap_InterestExpenseAbstract_2924D52C18C4C1762D1021FAC2BD1005_terseLabel_en-US" xlink:label="lab_us-gaap_InterestExpenseAbstract_2924D52C18C4C1762D1021FAC2BD1005" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Interest expense </link:label>

<link:label id="lab_us-gaap_InterestExpenseAbstract_2924D52C18C4C1762D1021FAC2BD1005_label_en-US" xlink:label="lab_us-gaap_InterestExpenseAbstract_2924D52C18C4C1762D1021FAC2BD1005" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Interest Expense [Abstract] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_InterestExpenseAbstract" xlink:label="loc_us-gaap_InterestExpenseAbstract_2924D52C18C4C1762D1021FAC2BD1005" xlink:type="locator"/>

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<link:label id="lab_us-gaap_InterestExpenseLongTermDebt_72F2018AAABED40E71F721FAC2BD23C2_terseLabel_en-US" xlink:label="lab_us-gaap_InterestExpenseLongTermDebt_72F2018AAABED40E71F721FAC2BD23C2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Interest on borrowings </link:label>

<link:label id="lab_us-gaap_InterestExpenseLongTermDebt_72F2018AAABED40E71F721FAC2BD23C2_label_en-US" xlink:label="lab_us-gaap_InterestExpenseLongTermDebt_72F2018AAABED40E71F721FAC2BD23C2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Interest Expense, Long-term Debt </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_InterestExpenseLongTermDebt" xlink:label="loc_us-gaap_InterestExpenseLongTermDebt_72F2018AAABED40E71F721FAC2BD23C2" xlink:type="locator"/>

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<link:label id="lab_us-gaap_InterestExpenseDeposits_A9B92981A43B238856D421FAC2BD3E45_terseLabel_en-US" xlink:label="lab_us-gaap_InterestExpenseDeposits_A9B92981A43B238856D421FAC2BD3E45" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Interest on deposits </link:label>

<link:label id="lab_us-gaap_InterestExpenseDeposits_A9B92981A43B238856D421FAC2BD3E45_label_en-US" xlink:label="lab_us-gaap_InterestExpenseDeposits_A9B92981A43B238856D421FAC2BD3E45" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Interest Expense, Deposits </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_InterestExpenseDeposits" xlink:label="loc_us-gaap_InterestExpenseDeposits_A9B92981A43B238856D421FAC2BD3E45" xlink:type="locator"/>

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<link:label id="lab_us-gaap_InterestExpense_8B60151FD9DD927B9CE821FAC2BD15A7_totalLabel_en-US" xlink:label="lab_us-gaap_InterestExpense_8B60151FD9DD927B9CE821FAC2BD15A7" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US"> Interest expense </link:label>

<link:label id="lab_us-gaap_InterestExpense_8B60151FD9DD927B9CE821FAC2BD15A7_label_en-US" xlink:label="lab_us-gaap_InterestExpense_8B60151FD9DD927B9CE821FAC2BD15A7" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Interest Expense </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_InterestExpense" xlink:label="loc_us-gaap_InterestExpense_8B60151FD9DD927B9CE821FAC2BD15A7" xlink:type="locator"/>

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<link:label id="lab_us-gaap_InterestIncomeExpenseNet_AAA56105D4229EB3C4C921FAC2BD98AE_totalLabel_en-US" xlink:label="lab_us-gaap_InterestIncomeExpenseNet_AAA56105D4229EB3C4C921FAC2BD98AE" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US"> Net interest revenue </link:label>

<link:label id="lab_us-gaap_InterestIncomeExpenseNet_AAA56105D4229EB3C4C921FAC2BD98AE_label_en-US" xlink:label="lab_us-gaap_InterestIncomeExpenseNet_AAA56105D4229EB3C4C921FAC2BD98AE" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Interest Income (Expense), Net </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_InterestIncomeExpenseNet" xlink:label="loc_us-gaap_InterestIncomeExpenseNet_AAA56105D4229EB3C4C921FAC2BD98AE" xlink:type="locator"/>

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<link:label id="lab_us-gaap_ProvisionForLoanAndLeaseLosses_F887D40356A8FAFAFCE821FAC2BD47B7_terseLabel_en-US" xlink:label="lab_us-gaap_ProvisionForLoanAndLeaseLosses_F887D40356A8FAFAFCE821FAC2BD47B7" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Provision for credit losses </link:label>

<link:label id="lab_us-gaap_ProvisionForLoanAndLeaseLosses_F887D40356A8FAFAFCE821FAC2BD47B7_label_en-US" xlink:label="lab_us-gaap_ProvisionForLoanAndLeaseLosses_F887D40356A8FAFAFCE821FAC2BD47B7" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Provision for Loan and Lease Losses </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ProvisionForLoanAndLeaseLosses" xlink:label="loc_us-gaap_ProvisionForLoanAndLeaseLosses_F887D40356A8FAFAFCE821FAC2BD47B7" xlink:type="locator"/>

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<link:label id="lab_us-gaap_InterestIncomeExpenseAfterProvisionForLoanLoss_CDB45B0E58D7D7D8B0F021FAC2BE461E_totalLabel_en-US" xlink:label="lab_us-gaap_InterestIncomeExpenseAfterProvisionForLoanLoss_CDB45B0E58D7D7D8B0F021FAC2BE461E" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US"> Net interest revenue, after credit provision </link:label>

<link:label id="lab_us-gaap_InterestIncomeExpenseAfterProvisionForLoanLoss_CDB45B0E58D7D7D8B0F021FAC2BE461E_label_en-US" xlink:label="lab_us-gaap_InterestIncomeExpenseAfterProvisionForLoanLoss_CDB45B0E58D7D7D8B0F021FAC2BE461E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Interest Income (Expense), after Provision for Loan Loss </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_InterestIncomeExpenseAfterProvisionForLoanLoss" xlink:label="loc_us-gaap_InterestIncomeExpenseAfterProvisionForLoanLoss_CDB45B0E58D7D7D8B0F021FAC2BE461E" xlink:type="locator"/>

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<link:label id="lab_us-gaap_NoninterestIncomeAbstract_934F040AF798A31D72F521FAC2BE09A5_terseLabel_en-US" xlink:label="lab_us-gaap_NoninterestIncomeAbstract_934F040AF798A31D72F521FAC2BE09A5" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Non-interest income </link:label>

<link:label id="lab_us-gaap_NoninterestIncomeAbstract_934F040AF798A31D72F521FAC2BE09A5_label_en-US" xlink:label="lab_us-gaap_NoninterestIncomeAbstract_934F040AF798A31D72F521FAC2BE09A5" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Noninterest Income [Abstract] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_NoninterestIncomeAbstract" xlink:label="loc_us-gaap_NoninterestIncomeAbstract_934F040AF798A31D72F521FAC2BE09A5" xlink:type="locator"/>

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<link:label id="lab_us-gaap_OperatingLeasesIncomeStatementLeaseRevenue_6F5B2213C24251A1587B21FAC2BEC727_terseLabel_en-US" xlink:label="lab_us-gaap_OperatingLeasesIncomeStatementLeaseRevenue_6F5B2213C24251A1587B21FAC2BEC727" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Rental income on operating leases </link:label>

<link:label id="lab_us-gaap_OperatingLeasesIncomeStatementLeaseRevenue_6F5B2213C24251A1587B21FAC2BEC727_label_en-US" xlink:label="lab_us-gaap_OperatingLeasesIncomeStatementLeaseRevenue_6F5B2213C24251A1587B21FAC2BEC727" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Operating Leases, Income Statement, Lease Revenue </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_OperatingLeasesIncomeStatementLeaseRevenue" xlink:label="loc_us-gaap_OperatingLeasesIncomeStatementLeaseRevenue_6F5B2213C24251A1587B21FAC2BEC727" xlink:type="locator"/>

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<link:label id="lab_us-gaap_NoninterestIncomeOtherOperatingIncome_6A88D70FAB735FBB62F221FAC2BE8165_netLabel_en-US" xlink:label="lab_us-gaap_NoninterestIncomeOtherOperatingIncome_6A88D70FAB735FBB62F221FAC2BE8165" xlink:role="http://www.xbrl.org/2009/role/netLabel" xlink:type="resource" xml:lang="en-US"> Other non-interest income </link:label>

<link:label id="lab_us-gaap_NoninterestIncomeOtherOperatingIncome_6A88D70FAB735FBB62F221FAC2BE8165_label_en-US" xlink:label="lab_us-gaap_NoninterestIncomeOtherOperatingIncome_6A88D70FAB735FBB62F221FAC2BE8165" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Noninterest Income, Other Operating Income </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_NoninterestIncomeOtherOperatingIncome" xlink:label="loc_us-gaap_NoninterestIncomeOtherOperatingIncome_6A88D70FAB735FBB62F221FAC2BE8165" xlink:type="locator"/>

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<link:label id="lab_us-gaap_NoninterestIncome_55AC4FD4EF39F9AF2EB321FAC2BE2378_totalLabel_en-US" xlink:label="lab_us-gaap_NoninterestIncome_55AC4FD4EF39F9AF2EB321FAC2BE2378" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US"> Total non-interest income </link:label>

<link:label id="lab_us-gaap_NoninterestIncome_55AC4FD4EF39F9AF2EB321FAC2BE2378_label_en-US" xlink:label="lab_us-gaap_NoninterestIncome_55AC4FD4EF39F9AF2EB321FAC2BE2378" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Noninterest Income </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_NoninterestIncome" xlink:label="loc_us-gaap_NoninterestIncome_55AC4FD4EF39F9AF2EB321FAC2BE2378" xlink:type="locator"/>

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<link:label id="lab_us-gaap_RevenuesNetOfInterestExpense_616849965D95D412A63821FAC2BEE2D4_totalLabel_en-US" xlink:label="lab_us-gaap_RevenuesNetOfInterestExpense_616849965D95D412A63821FAC2BEE2D4" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US"> Total revenue, net of interest expense and credit provision </link:label>

<link:label id="lab_us-gaap_RevenuesNetOfInterestExpense_616849965D95D412A63821FAC2BEE2D4_label_en-US" xlink:label="lab_us-gaap_RevenuesNetOfInterestExpense_616849965D95D412A63821FAC2BEE2D4" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Revenues, Net of Interest Expense </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_RevenuesNetOfInterestExpense" xlink:label="loc_us-gaap_RevenuesNetOfInterestExpense_616849965D95D412A63821FAC2BEE2D4" xlink:type="locator"/>

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<link:label id="lab_us-gaap_NoninterestExpenseAbstract_BADF0F528E7F3BAD6E1121FAC2BEE844_terseLabel_en-US" xlink:label="lab_us-gaap_NoninterestExpenseAbstract_BADF0F528E7F3BAD6E1121FAC2BEE844" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Non-interest expenses </link:label>

<link:label id="lab_us-gaap_NoninterestExpenseAbstract_BADF0F528E7F3BAD6E1121FAC2BEE844_label_en-US" xlink:label="lab_us-gaap_NoninterestExpenseAbstract_BADF0F528E7F3BAD6E1121FAC2BEE844" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Noninterest Expense [Abstract] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_NoninterestExpenseAbstract" xlink:label="loc_us-gaap_NoninterestExpenseAbstract_BADF0F528E7F3BAD6E1121FAC2BEE844" xlink:type="locator"/>

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<link:label id="lab_us-gaap_OperatingLeasesIncomeStatementDepreciationExpenseOnPropertySubjectToOrHeldForLease_1F5CB1905393B375864721FAC2BE04EE_terseLabel_en-US" xlink:label="lab_us-gaap_OperatingLeasesIncomeStatementDepreciationExpenseOnPropertySubjectToOrHeldForLease_1F5CB1905393B375864721FAC2BE04EE" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Depreciation on operating lease equipment </link:label>

<link:label id="lab_us-gaap_OperatingLeasesIncomeStatementDepreciationExpenseOnPropertySubjectToOrHeldForLease_1F5CB1905393B375864721FAC2BE04EE_label_en-US" xlink:label="lab_us-gaap_OperatingLeasesIncomeStatementDepreciationExpenseOnPropertySubjectToOrHeldForLease_1F5CB1905393B375864721FAC2BE04EE" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Operating Leases, Income Statement, Depreciation Expense on Property Subject to or Held-for-lease </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_OperatingLeasesIncomeStatementDepreciationExpenseOnPropertySubjectToOrHeldForLease" xlink:label="loc_us-gaap_OperatingLeasesIncomeStatementDepreciationExpenseOnPropertySubjectToOrHeldForLease_1F5CB1905393B375864721FAC2BE04EE" xlink:type="locator"/>

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<link:label id="lab_us-gaap_CostOfOtherPropertyOperatingExpense_7C4D9DCA2EF52048B7AA21FAC2BE1E93_terseLabel_en-US" xlink:label="lab_us-gaap_CostOfOtherPropertyOperatingExpense_7C4D9DCA2EF52048B7AA21FAC2BE1E93" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Maintenance and other operating lease expenses </link:label>

<link:label id="lab_us-gaap_CostOfOtherPropertyOperatingExpense_7C4D9DCA2EF52048B7AA21FAC2BE1E93_label_en-US" xlink:label="lab_us-gaap_CostOfOtherPropertyOperatingExpense_7C4D9DCA2EF52048B7AA21FAC2BE1E93" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Cost of Other Property Operating Expense </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_CostOfOtherPropertyOperatingExpense" xlink:label="loc_us-gaap_CostOfOtherPropertyOperatingExpense_7C4D9DCA2EF52048B7AA21FAC2BE1E93" xlink:type="locator"/>

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<link:label id="lab_us-gaap_OperatingExpenses_11C155B05F59A5694A6021FAC2BE1EEE_terseLabel_en-US" xlink:label="lab_us-gaap_OperatingExpenses_11C155B05F59A5694A6021FAC2BE1EEE" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Operating expenses </link:label>

<link:label id="lab_us-gaap_OperatingExpenses_11C155B05F59A5694A6021FAC2BE1EEE_label_en-US" xlink:label="lab_us-gaap_OperatingExpenses_11C155B05F59A5694A6021FAC2BE1EEE" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Operating Expenses </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_OperatingExpenses" xlink:label="loc_us-gaap_OperatingExpenses_11C155B05F59A5694A6021FAC2BE1EEE" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OperatingExpenses_11C155B05F59A5694A6021FAC2BE1EEE" xlink:to="lab_us-gaap_OperatingExpenses_11C155B05F59A5694A6021FAC2BE1EEE" xlink:type="arc"/>

<link:label id="lab_cit_GainLossesOnExtinguishmentOfDebtAndDepositRedemption_DE5BAE794AA57C964ADA21FAC2BE63B1_negatedTerseLabel_en-US" xlink:label="lab_cit_GainLossesOnExtinguishmentOfDebtAndDepositRedemption_DE5BAE794AA57C964ADA21FAC2BE63B1" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US"> Loss on debt extinguishment and deposit redemption </link:label>

<link:label id="lab_cit_GainLossesOnExtinguishmentOfDebtAndDepositRedemption_DE5BAE794AA57C964ADA21FAC2BE63B1_label_en-US" xlink:label="lab_cit_GainLossesOnExtinguishmentOfDebtAndDepositRedemption_DE5BAE794AA57C964ADA21FAC2BE63B1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Gain (Losses) On Extinguishment Of Debt And Deposit Redemption </link:label>

<link:label id="lab_cit_GainLossesOnExtinguishmentOfDebtAndDepositRedemption_DE5BAE794AA57C964ADA21FAC2BE63B1_documentation_en-US" xlink:label="lab_cit_GainLossesOnExtinguishmentOfDebtAndDepositRedemption_DE5BAE794AA57C964ADA21FAC2BE63B1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Gain (Losses) On Extinguishment Of Debt And Deposit Redemption </link:label>

<link:loc xlink:href="cit-20180331.xsd#cit_GainLossesOnExtinguishmentOfDebtAndDepositRedemption" xlink:label="loc_cit_GainLossesOnExtinguishmentOfDebtAndDepositRedemption_DE5BAE794AA57C964ADA21FAC2BE63B1" xlink:type="locator"/>

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<link:label id="lab_us-gaap_NoninterestExpense_6FF3B0248F1E2DF244FE21FAC2BE1839_totalLabel_en-US" xlink:label="lab_us-gaap_NoninterestExpense_6FF3B0248F1E2DF244FE21FAC2BE1839" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US"> Total non-interest expenses </link:label>

<link:label id="lab_us-gaap_NoninterestExpense_6FF3B0248F1E2DF244FE21FAC2BE1839_label_en-US" xlink:label="lab_us-gaap_NoninterestExpense_6FF3B0248F1E2DF244FE21FAC2BE1839" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Noninterest Expense </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_NoninterestExpense" xlink:label="loc_us-gaap_NoninterestExpense_6FF3B0248F1E2DF244FE21FAC2BE1839" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NoninterestExpense_6FF3B0248F1E2DF244FE21FAC2BE1839" xlink:to="lab_us-gaap_NoninterestExpense_6FF3B0248F1E2DF244FE21FAC2BE1839" xlink:type="arc"/>

<link:label id="lab_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_D806895A8EE9F0C1374221FAC2BE5383_totalLabel_en-US" xlink:label="lab_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_D806895A8EE9F0C1374221FAC2BE5383" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US"> Income from continuing operations before benefit (provision) for income taxes </link:label>

<link:label id="lab_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_D806895A8EE9F0C1374221FAC2BE5383_label_en-US" xlink:label="lab_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_D806895A8EE9F0C1374221FAC2BE5383" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest" xlink:label="loc_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_D806895A8EE9F0C1374221FAC2BE5383" xlink:type="locator"/>

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<link:label id="lab_us-gaap_IncomeTaxExpenseBenefit_D76F998D622778B072C321FAC2BEB6DC_netLabel_en-US" xlink:label="lab_us-gaap_IncomeTaxExpenseBenefit_D76F998D622778B072C321FAC2BEB6DC" xlink:role="http://www.xbrl.org/2009/role/netLabel" xlink:type="resource" xml:lang="en-US"> Provision for income taxes </link:label>

<link:label id="lab_us-gaap_IncomeTaxExpenseBenefit_D76F998D622778B072C321FAC2BEB6DC_label_en-US" xlink:label="lab_us-gaap_IncomeTaxExpenseBenefit_D76F998D622778B072C321FAC2BEB6DC" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Income Tax Expense (Benefit) </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_IncomeTaxExpenseBenefit" xlink:label="loc_us-gaap_IncomeTaxExpenseBenefit_D76F998D622778B072C321FAC2BEB6DC" xlink:type="locator"/>

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<link:label id="lab_us-gaap_IncomeLossFromContinuingOperations_4EDC417E7D044A289FC921FAC2BEBAD4_totalLabel_en-US" xlink:label="lab_us-gaap_IncomeLossFromContinuingOperations_4EDC417E7D044A289FC921FAC2BEBAD4" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US"> Income from continuing operations </link:label>

<link:label id="lab_us-gaap_IncomeLossFromContinuingOperations_4EDC417E7D044A289FC921FAC2BEBAD4_label_en-US" xlink:label="lab_us-gaap_IncomeLossFromContinuingOperations_4EDC417E7D044A289FC921FAC2BEBAD4" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_IncomeLossFromContinuingOperations" xlink:label="loc_us-gaap_IncomeLossFromContinuingOperations_4EDC417E7D044A289FC921FAC2BEBAD4" xlink:type="locator"/>

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<link:label id="lab_us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxAbstract_5F59A9512D858144A81C21FAC2BE15CF_terseLabel_en-US" xlink:label="lab_us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxAbstract_5F59A9512D858144A81C21FAC2BE15CF" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Discontinued Operations </link:label>

<link:label id="lab_us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxAbstract_5F59A9512D858144A81C21FAC2BE15CF_label_en-US" xlink:label="lab_us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxAbstract_5F59A9512D858144A81C21FAC2BE15CF" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest [Abstract] </link:label>

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<link:label id="lab_us-gaap_DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax_5CB0F72C8DFC3B539BD321FAC2BE2D91_terseLabel_en-US" xlink:label="lab_us-gaap_DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax_5CB0F72C8DFC3B539BD321FAC2BE2D91" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Income (loss) from discontinued operations, net of taxes </link:label>

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<link:label id="lab_us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity_FFE494461450DAEAA37921FAC2BF7E59_totalLabel_en-US" xlink:label="lab_us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity_FFE494461450DAEAA37921FAC2BF7E59" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US"> Total income (loss) from discontinued operations, net of taxes </link:label>

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<link:label id="lab_us-gaap_EarningsPerShareBasicAbstract_5672037D5474020367B621FAC2BF7159_terseLabel_en-US" xlink:label="lab_us-gaap_EarningsPerShareBasicAbstract_5672037D5474020367B621FAC2BF7159" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Basic income per common share </link:label>

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<link:label id="lab_us-gaap_IncomeLossFromContinuingOperationsPerBasicShare_90717B12EC45FB7C5CCF21FAC2BFB34F_terseLabel_en-US" xlink:label="lab_us-gaap_IncomeLossFromContinuingOperationsPerBasicShare_90717B12EC45FB7C5CCF21FAC2BFB34F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Income from continuing operations (in dollars per share) </link:label>

<link:label id="lab_us-gaap_IncomeLossFromContinuingOperationsPerBasicShare_90717B12EC45FB7C5CCF21FAC2BFB34F_label_en-US" xlink:label="lab_us-gaap_IncomeLossFromContinuingOperationsPerBasicShare_90717B12EC45FB7C5CCF21FAC2BFB34F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Income (Loss) from Continuing Operations, Per Basic Share </link:label>

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<link:label id="lab_us-gaap_DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerBasicShare_33DF97ECC8B6238D07A221FAC2BFC10F_netLabel_en-US" xlink:label="lab_us-gaap_DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerBasicShare_33DF97ECC8B6238D07A221FAC2BFC10F" xlink:role="http://www.xbrl.org/2009/role/netLabel" xlink:type="resource" xml:lang="en-US"> Income (loss) from discontinued operations (in dollars per share) </link:label>

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<link:label id="lab_us-gaap_EarningsPerShareBasic_E622573AE019B6F55D6A21FAC2BFF68C_totalLabel_en-US" xlink:label="lab_us-gaap_EarningsPerShareBasic_E622573AE019B6F55D6A21FAC2BFF68C" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US"> Basic income per share (in dollars per share) </link:label>

<link:label id="lab_us-gaap_EarningsPerShareBasic_E622573AE019B6F55D6A21FAC2BFF68C_label_en-US" xlink:label="lab_us-gaap_EarningsPerShareBasic_E622573AE019B6F55D6A21FAC2BFF68C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Earnings Per Share, Basic </link:label>

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<link:label id="lab_us-gaap_EarningsPerShareDilutedAbstract_3D69FC36535DFD2EBD1E21FAC2BFBB8D_terseLabel_en-US" xlink:label="lab_us-gaap_EarningsPerShareDilutedAbstract_3D69FC36535DFD2EBD1E21FAC2BFBB8D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Diluted income per common share </link:label>

<link:label id="lab_us-gaap_EarningsPerShareDilutedAbstract_3D69FC36535DFD2EBD1E21FAC2BFBB8D_label_en-US" xlink:label="lab_us-gaap_EarningsPerShareDilutedAbstract_3D69FC36535DFD2EBD1E21FAC2BFBB8D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Earnings Per Share, Diluted [Abstract] </link:label>

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<link:label id="lab_us-gaap_IncomeLossFromContinuingOperationsPerDilutedShare_D270CEF32EF8F27C5E2F21FAC2BF1557_terseLabel_en-US" xlink:label="lab_us-gaap_IncomeLossFromContinuingOperationsPerDilutedShare_D270CEF32EF8F27C5E2F21FAC2BF1557" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Income from continuing operations (in dollars per share) </link:label>

<link:label id="lab_us-gaap_IncomeLossFromContinuingOperationsPerDilutedShare_D270CEF32EF8F27C5E2F21FAC2BF1557_label_en-US" xlink:label="lab_us-gaap_IncomeLossFromContinuingOperationsPerDilutedShare_D270CEF32EF8F27C5E2F21FAC2BF1557" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Income (Loss) from Continuing Operations, Per Diluted Share </link:label>

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<link:label id="lab_us-gaap_DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerDilutedShare_DC405E4FB42B66C5232F21FAC2BFFF94_netLabel_en-US" xlink:label="lab_us-gaap_DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerDilutedShare_DC405E4FB42B66C5232F21FAC2BFFF94" xlink:role="http://www.xbrl.org/2009/role/netLabel" xlink:type="resource" xml:lang="en-US"> Income (loss) from discontinued operations (in dollars per share) </link:label>

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<link:label id="lab_us-gaap_EarningsPerShareDiluted_A01203DDAB08B08C970021FAC2BF330A_totalLabel_en-US" xlink:label="lab_us-gaap_EarningsPerShareDiluted_A01203DDAB08B08C970021FAC2BF330A" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US"> Diluted income per share (in dollars per share) </link:label>

<link:label id="lab_us-gaap_EarningsPerShareDiluted_A01203DDAB08B08C970021FAC2BF330A_label_en-US" xlink:label="lab_us-gaap_EarningsPerShareDiluted_A01203DDAB08B08C970021FAC2BF330A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Earnings Per Share, Diluted </link:label>

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<link:label id="lab_us-gaap_EarningsPerShareBasicAndDilutedOtherDisclosuresAbstract_7AC706B8D2F00DE0BF4821FAC2BF13F3_terseLabel_en-US" xlink:label="lab_us-gaap_EarningsPerShareBasicAndDilutedOtherDisclosuresAbstract_7AC706B8D2F00DE0BF4821FAC2BF13F3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Average number of common shares (thousands) </link:label>

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<link:label id="lab_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_0BFA999A74946D3CD8B821FAC2BF911F_netLabel_en-US" xlink:label="lab_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_0BFA999A74946D3CD8B821FAC2BF911F" xlink:role="http://www.xbrl.org/2009/role/netLabel" xlink:type="resource" xml:lang="en-US"> Basic (in shares) </link:label>

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<link:label id="lab_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_041F098707C9E710464321FAC2BFDDAE_netLabel_en-US" xlink:label="lab_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_041F098707C9E710464321FAC2BFDDAE" xlink:role="http://www.xbrl.org/2009/role/netLabel" xlink:type="resource" xml:lang="en-US"> Diluted (in shares) </link:label>

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<link:label id="lab_us-gaap_CommonStockDividendsPerShareDeclared_27C286BB2044FEF9E50E21FAC2BFD498_terseLabel_en-US" xlink:label="lab_us-gaap_CommonStockDividendsPerShareDeclared_27C286BB2044FEF9E50E21FAC2BFD498" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Dividends declared per common share (in dollars per share) </link:label>

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<link:label id="lab_us-gaap_StockholdersEquityNoteAbstract_16BDEADA35D38E0A0F4523D83A39B98C_label_en-US" xlink:label="lab_us-gaap_StockholdersEquityNoteAbstract_16BDEADA35D38E0A0F4523D83A39B98C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Stockholders' Equity Note [Abstract] </link:label>

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<link:label id="lab_us-gaap_AccumulatedOtherComprehensiveIncomeLossTable_8D49F2C462DFEC03607623D83A39DF04_terseLabel_en-US" xlink:label="lab_us-gaap_AccumulatedOtherComprehensiveIncomeLossTable_8D49F2C462DFEC03607623D83A39DF04" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Accumulated Other Comprehensive Income (Loss) [Table] </link:label>

<link:label id="lab_us-gaap_AccumulatedOtherComprehensiveIncomeLossTable_8D49F2C462DFEC03607623D83A39DF04_label_en-US" xlink:label="lab_us-gaap_AccumulatedOtherComprehensiveIncomeLossTable_8D49F2C462DFEC03607623D83A39DF04" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Accumulated Other Comprehensive Income (Loss) [Table] </link:label>

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<link:label id="lab_us-gaap_StatementEquityComponentsAxis_2BB1979ED8B5EF2F0C6723D83A392608_terseLabel_en-US" xlink:label="lab_us-gaap_StatementEquityComponentsAxis_2BB1979ED8B5EF2F0C6723D83A392608" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Equity Components [Axis] </link:label>

<link:label id="lab_us-gaap_StatementEquityComponentsAxis_2BB1979ED8B5EF2F0C6723D83A392608_label_en-US" xlink:label="lab_us-gaap_StatementEquityComponentsAxis_2BB1979ED8B5EF2F0C6723D83A392608" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Equity Components [Axis] </link:label>

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<link:label id="lab_us-gaap_EquityComponentDomain_08842D0D55B2D062AE6A23D83A390C77_terseLabel_en-US" xlink:label="lab_us-gaap_EquityComponentDomain_08842D0D55B2D062AE6A23D83A390C77" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Equity Component [Domain] </link:label>

<link:label id="lab_us-gaap_EquityComponentDomain_08842D0D55B2D062AE6A23D83A390C77_label_en-US" xlink:label="lab_us-gaap_EquityComponentDomain_08842D0D55B2D062AE6A23D83A390C77" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Equity Component [Domain] </link:label>

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<link:label id="lab_us-gaap_AccumulatedOtherComprehensiveIncomeMember_AB78F19C94DD6A60210C23D83A39F71C_verboseLabel_en-US" xlink:label="lab_us-gaap_AccumulatedOtherComprehensiveIncomeMember_AB78F19C94DD6A60210C23D83A39F71C" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Total AOCI </link:label>

<link:label id="lab_us-gaap_AccumulatedOtherComprehensiveIncomeMember_AB78F19C94DD6A60210C23D83A39F71C_label_en-US" xlink:label="lab_us-gaap_AccumulatedOtherComprehensiveIncomeMember_AB78F19C94DD6A60210C23D83A39F71C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> AOCI Attributable to Parent [Member] </link:label>

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<link:label id="lab_us-gaap_AccumulatedTranslationAdjustmentMember_500A8FB8A200E33AE84723D83A39571B_terseLabel_en-US" xlink:label="lab_us-gaap_AccumulatedTranslationAdjustmentMember_500A8FB8A200E33AE84723D83A39571B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Foreign currency translation adjustments </link:label>

<link:label id="lab_us-gaap_AccumulatedTranslationAdjustmentMember_500A8FB8A200E33AE84723D83A39571B_label_en-US" xlink:label="lab_us-gaap_AccumulatedTranslationAdjustmentMember_500A8FB8A200E33AE84723D83A39571B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Accumulated Foreign Currency Adjustment Attributable to Parent [Member] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_AccumulatedTranslationAdjustmentMember" xlink:label="loc_us-gaap_AccumulatedTranslationAdjustmentMember_500A8FB8A200E33AE84723D83A39571B" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AccumulatedTranslationAdjustmentMember_500A8FB8A200E33AE84723D83A39571B" xlink:to="lab_us-gaap_AccumulatedTranslationAdjustmentMember_500A8FB8A200E33AE84723D83A39571B" xlink:type="arc"/>

<link:label id="lab_us-gaap_AccumulatedDefinedBenefitPlansAdjustmentMember_AA5AA49BD541881E7DF823D83A390D98_verboseLabel_en-US" xlink:label="lab_us-gaap_AccumulatedDefinedBenefitPlansAdjustmentMember_AA5AA49BD541881E7DF823D83A390D98" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Changes in benefit plan net gain (loss) and prior service (cost)/credit </link:label>

<link:label id="lab_us-gaap_AccumulatedDefinedBenefitPlansAdjustmentMember_AA5AA49BD541881E7DF823D83A390D98_label_en-US" xlink:label="lab_us-gaap_AccumulatedDefinedBenefitPlansAdjustmentMember_AA5AA49BD541881E7DF823D83A390D98" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_AccumulatedDefinedBenefitPlansAdjustmentMember" xlink:label="loc_us-gaap_AccumulatedDefinedBenefitPlansAdjustmentMember_AA5AA49BD541881E7DF823D83A390D98" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AccumulatedDefinedBenefitPlansAdjustmentMember_AA5AA49BD541881E7DF823D83A390D98" xlink:to="lab_us-gaap_AccumulatedDefinedBenefitPlansAdjustmentMember_AA5AA49BD541881E7DF823D83A390D98" xlink:type="arc"/>

<link:label id="lab_us-gaap_AccumulatedNetUnrealizedInvestmentGainLossMember_97451175B2A6088A57EC23D83A394ACF_terseLabel_en-US" xlink:label="lab_us-gaap_AccumulatedNetUnrealizedInvestmentGainLossMember_97451175B2A6088A57EC23D83A394ACF" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Unrealized net gains (losses) on available for sale securities </link:label>

<link:label id="lab_us-gaap_AccumulatedNetUnrealizedInvestmentGainLossMember_97451175B2A6088A57EC23D83A394ACF_label_en-US" xlink:label="lab_us-gaap_AccumulatedNetUnrealizedInvestmentGainLossMember_97451175B2A6088A57EC23D83A394ACF" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Accumulated Net Investment Gain (Loss) Attributable to Parent [Member] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_AccumulatedNetUnrealizedInvestmentGainLossMember" xlink:label="loc_us-gaap_AccumulatedNetUnrealizedInvestmentGainLossMember_97451175B2A6088A57EC23D83A394ACF" xlink:type="locator"/>

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<link:label id="lab_us-gaap_AccumulatedOtherComprehensiveIncomeLossLineItems_25673931424091C512AC23D83A392B65_terseLabel_en-US" xlink:label="lab_us-gaap_AccumulatedOtherComprehensiveIncomeLossLineItems_25673931424091C512AC23D83A392B65" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Accumulated Other Comprehensive Income (Loss) [Line Items] </link:label>

<link:label id="lab_us-gaap_AccumulatedOtherComprehensiveIncomeLossLineItems_25673931424091C512AC23D83A392B65_label_en-US" xlink:label="lab_us-gaap_AccumulatedOtherComprehensiveIncomeLossLineItems_25673931424091C512AC23D83A392B65" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Accumulated Other Comprehensive Income (Loss) [Line Items] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_AccumulatedOtherComprehensiveIncomeLossLineItems" xlink:label="loc_us-gaap_AccumulatedOtherComprehensiveIncomeLossLineItems_25673931424091C512AC23D83A392B65" xlink:type="locator"/>

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<link:label id="lab_us-gaap_ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTaxAbstract_FF0AD0438331993CDC2423D83A390F8D_terseLabel_en-US" xlink:label="lab_us-gaap_ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTaxAbstract_FF0AD0438331993CDC2423D83A390F8D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward] </link:label>

<link:label id="lab_us-gaap_ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTaxAbstract_FF0AD0438331993CDC2423D83A390F8D_label_en-US" xlink:label="lab_us-gaap_ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTaxAbstract_FF0AD0438331993CDC2423D83A390F8D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward] </link:label>

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<link:label id="lab_us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption_B42C1C7C0AA0698A3A4223E573BB8CFA_terseLabel_en-US" xlink:label="lab_us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption_B42C1C7C0AA0698A3A4223E573BB8CFA" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Adoption of ASUs 2016-01 and 2018-02(1) </link:label>

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<link:label id="lab_us-gaap_OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax_A34EFB3E7D1590A96DC723D83A393CE0_terseLabel_en-US" xlink:label="lab_us-gaap_OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax_A34EFB3E7D1590A96DC723D83A393CE0" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> AOCI activity before reclassifications </link:label>

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<link:label id="lab_us-gaap_RegulatoryCapitalRequirementsAbstract_4E82580CAD686644A4F303CDDAEBB47E_label_en-US" xlink:label="lab_us-gaap_RegulatoryCapitalRequirementsAbstract_4E82580CAD686644A4F303CDDAEBB47E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Regulatory Capital Requirements [Abstract] </link:label>

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<link:label id="lab_cit_CITBankMember_5921B691A303A0A64CAD03CDDAEC8926_terseLabel_en-US" xlink:label="lab_cit_CITBankMember_5921B691A303A0A64CAD03CDDAEC8926" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> CIT Bank, N.A. </link:label>

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<link:label id="lab_us-gaap_ComplianceWithRegulatoryCapitalRequirementsUnderBankingRegulationsLineItems_066CFBB5BA914E60582F03CDDAECF6E0_terseLabel_en-US" xlink:label="lab_us-gaap_ComplianceWithRegulatoryCapitalRequirementsUnderBankingRegulationsLineItems_066CFBB5BA914E60582F03CDDAECF6E0" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] </link:label>

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<link:label id="lab_us-gaap_CommonEquityTierOneCapital_1CF766C788A9CE08EFB503CDDAEC0652_terseLabel_en-US" xlink:label="lab_us-gaap_CommonEquityTierOneCapital_1CF766C788A9CE08EFB503CDDAEC0652" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Common Equity Tier 1 Capital </link:label>

<link:label id="lab_us-gaap_CommonEquityTierOneCapital_1CF766C788A9CE08EFB503CDDAEC0652_label_en-US" xlink:label="lab_us-gaap_CommonEquityTierOneCapital_1CF766C788A9CE08EFB503CDDAEC0652" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Common Equity Tier One Capital </link:label>

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<link:label id="lab_us-gaap_TierOneRiskBasedCapital_8C3DDDBD4BF891117C0803CDDAEC5109_terseLabel_en-US" xlink:label="lab_us-gaap_TierOneRiskBasedCapital_8C3DDDBD4BF891117C0803CDDAEC5109" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Tier 1 Capital </link:label>

<link:label id="lab_us-gaap_TierOneRiskBasedCapital_8C3DDDBD4BF891117C0803CDDAEC5109_label_en-US" xlink:label="lab_us-gaap_TierOneRiskBasedCapital_8C3DDDBD4BF891117C0803CDDAEC5109" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Tier One Risk Based Capital </link:label>

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<link:label id="lab_us-gaap_Capital_69AB6299E1924BE8267B03CDDAECA1B4_terseLabel_en-US" xlink:label="lab_us-gaap_Capital_69AB6299E1924BE8267B03CDDAECA1B4" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Total Capital </link:label>

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<link:label id="lab_cit_RiskWeightedAssetsIncludingOffBalanceSheetItems_FB77E6330E24F9A90BDF03CDDAECA1DB_terseLabel_en-US" xlink:label="lab_cit_RiskWeightedAssetsIncludingOffBalanceSheetItems_FB77E6330E24F9A90BDF03CDDAECA1DB" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Risk-Weighted Assets </link:label>

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<link:label id="lab_us-gaap_CommonEquityTierOneCapitalAbstract_85F107268771E326318C03F497B2984F_terseLabel_en-US" xlink:label="lab_us-gaap_CommonEquityTierOneCapitalAbstract_85F107268771E326318C03F497B2984F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Common Equity Tier 1 Capital Ratio: </link:label>

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<link:label id="lab_us-gaap_TangibleCapitalToTangibleAssets_5F10579C4BBA1561EDB903CDDAECABC5_netLabel_en-US" xlink:label="lab_us-gaap_TangibleCapitalToTangibleAssets_5F10579C4BBA1561EDB903CDDAECABC5" xlink:role="http://www.xbrl.org/2009/role/netLabel" xlink:type="resource" xml:lang="en-US"> Actual </link:label>

<link:label id="lab_us-gaap_TangibleCapitalToTangibleAssets_5F10579C4BBA1561EDB903CDDAECABC5_label_en-US" xlink:label="lab_us-gaap_TangibleCapitalToTangibleAssets_5F10579C4BBA1561EDB903CDDAECABC5" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Tangible Capital to Tangible Assets </link:label>

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<link:label id="lab_us-gaap_TangibleCapitalRequiredForCapitalAdequacyToTangibleAssets_563F28F08090DCFC41B403CDDAEC3C5B_label_en-US" xlink:label="lab_us-gaap_TangibleCapitalRequiredForCapitalAdequacyToTangibleAssets_563F28F08090DCFC41B403CDDAEC3C5B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Tangible Capital Required for Capital Adequacy to Tangible Assets </link:label>

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<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_TangibleCapitalRequiredForCapitalAdequacyToTangibleAssets_563F28F08090DCFC41B403CDDAEC3C5B" xlink:to="lab_us-gaap_TangibleCapitalRequiredForCapitalAdequacyToTangibleAssets_563F28F08090DCFC41B403CDDAEC3C5B" xlink:type="arc"/>

<link:label id="lab_us-gaap_TierOneRiskBasedCapitalAbstract_915106B0431413474A1B03F510E04AF8_terseLabel_en-US" xlink:label="lab_us-gaap_TierOneRiskBasedCapitalAbstract_915106B0431413474A1B03F510E04AF8" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Tier 1 Capital Ratio: </link:label>

<link:label id="lab_us-gaap_TierOneRiskBasedCapitalAbstract_915106B0431413474A1B03F510E04AF8_label_en-US" xlink:label="lab_us-gaap_TierOneRiskBasedCapitalAbstract_915106B0431413474A1B03F510E04AF8" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Tier One Risk Based Capital [Abstract] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_TierOneRiskBasedCapitalAbstract" xlink:label="loc_us-gaap_TierOneRiskBasedCapitalAbstract_915106B0431413474A1B03F510E04AF8" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_TierOneRiskBasedCapitalAbstract_915106B0431413474A1B03F510E04AF8" xlink:to="lab_us-gaap_TierOneRiskBasedCapitalAbstract_915106B0431413474A1B03F510E04AF8" xlink:type="arc"/>

<link:label id="lab_us-gaap_TierOneRiskBasedCapitalToRiskWeightedAssets_A35243727E343DEE804A03CDDAEC1DA3_terseLabel_en-US" xlink:label="lab_us-gaap_TierOneRiskBasedCapitalToRiskWeightedAssets_A35243727E343DEE804A03CDDAEC1DA3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Actual </link:label>

<link:label id="lab_us-gaap_TierOneRiskBasedCapitalToRiskWeightedAssets_A35243727E343DEE804A03CDDAEC1DA3_label_en-US" xlink:label="lab_us-gaap_TierOneRiskBasedCapitalToRiskWeightedAssets_A35243727E343DEE804A03CDDAEC1DA3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Tier One Risk Based Capital to Risk Weighted Assets </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_TierOneRiskBasedCapitalToRiskWeightedAssets" xlink:label="loc_us-gaap_TierOneRiskBasedCapitalToRiskWeightedAssets_A35243727E343DEE804A03CDDAEC1DA3" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_TierOneRiskBasedCapitalToRiskWeightedAssets_A35243727E343DEE804A03CDDAEC1DA3" xlink:to="lab_us-gaap_TierOneRiskBasedCapitalToRiskWeightedAssets_A35243727E343DEE804A03CDDAEC1DA3" xlink:type="arc"/>

<link:label id="lab_us-gaap_TierOneRiskBasedCapitalRequiredForCapitalAdequacyToRiskWeightedAssets_1B15BEC2E6C2F2C0719403CDDAECA0FD_verboseLabel_en-US" xlink:label="lab_us-gaap_TierOneRiskBasedCapitalRequiredForCapitalAdequacyToRiskWeightedAssets_1B15BEC2E6C2F2C0719403CDDAECA0FD" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Effective minimum ratios under Basel III guidelines </link:label>

<link:label id="lab_us-gaap_TierOneRiskBasedCapitalRequiredForCapitalAdequacyToRiskWeightedAssets_1B15BEC2E6C2F2C0719403CDDAECA0FD_label_en-US" xlink:label="lab_us-gaap_TierOneRiskBasedCapitalRequiredForCapitalAdequacyToRiskWeightedAssets_1B15BEC2E6C2F2C0719403CDDAECA0FD" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Tier One Risk Based Capital Required for Capital Adequacy to Risk Weighted Assets </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_TierOneRiskBasedCapitalRequiredForCapitalAdequacyToRiskWeightedAssets" xlink:label="loc_us-gaap_TierOneRiskBasedCapitalRequiredForCapitalAdequacyToRiskWeightedAssets_1B15BEC2E6C2F2C0719403CDDAECA0FD" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_TierOneRiskBasedCapitalRequiredForCapitalAdequacyToRiskWeightedAssets_1B15BEC2E6C2F2C0719403CDDAECA0FD" xlink:to="lab_us-gaap_TierOneRiskBasedCapitalRequiredForCapitalAdequacyToRiskWeightedAssets_1B15BEC2E6C2F2C0719403CDDAECA0FD" xlink:type="arc"/>

<link:label id="lab_cit_TotalTierOneCapitalAbstract_4950BBF82C3B17ADBF1403F5A0D3E83C_terseLabel_en-US" xlink:label="lab_cit_TotalTierOneCapitalAbstract_4950BBF82C3B17ADBF1403F5A0D3E83C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Total Capital Ratio: </link:label>

<link:label id="lab_cit_TotalTierOneCapitalAbstract_4950BBF82C3B17ADBF1403F5A0D3E83C_label_en-US" xlink:label="lab_cit_TotalTierOneCapitalAbstract_4950BBF82C3B17ADBF1403F5A0D3E83C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Total Tier One Capital [Abstract] </link:label>

<link:label id="lab_cit_TotalTierOneCapitalAbstract_4950BBF82C3B17ADBF1403F5A0D3E83C_documentation_en-US" xlink:label="lab_cit_TotalTierOneCapitalAbstract_4950BBF82C3B17ADBF1403F5A0D3E83C" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Total Tier One Capital [Abstract] </link:label>

<link:loc xlink:href="cit-20180331.xsd#cit_TotalTierOneCapitalAbstract" xlink:label="loc_cit_TotalTierOneCapitalAbstract_4950BBF82C3B17ADBF1403F5A0D3E83C" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cit_TotalTierOneCapitalAbstract_4950BBF82C3B17ADBF1403F5A0D3E83C" xlink:to="lab_cit_TotalTierOneCapitalAbstract_4950BBF82C3B17ADBF1403F5A0D3E83C" xlink:type="arc"/>

<link:label id="lab_us-gaap_CapitalToRiskWeightedAssets_481999A1690B47B6D7C003CDDAED3084_terseLabel_en-US" xlink:label="lab_us-gaap_CapitalToRiskWeightedAssets_481999A1690B47B6D7C003CDDAED3084" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Actual </link:label>

<link:label id="lab_us-gaap_CapitalToRiskWeightedAssets_481999A1690B47B6D7C003CDDAED3084_label_en-US" xlink:label="lab_us-gaap_CapitalToRiskWeightedAssets_481999A1690B47B6D7C003CDDAED3084" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Capital to Risk Weighted Assets </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_CapitalToRiskWeightedAssets" xlink:label="loc_us-gaap_CapitalToRiskWeightedAssets_481999A1690B47B6D7C003CDDAED3084" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CapitalToRiskWeightedAssets_481999A1690B47B6D7C003CDDAED3084" xlink:to="lab_us-gaap_CapitalToRiskWeightedAssets_481999A1690B47B6D7C003CDDAED3084" xlink:type="arc"/>

<link:label id="lab_us-gaap_CapitalRequiredForCapitalAdequacyToRiskWeightedAssets_7B1A522D6EC2BF41C69E03CDDAEDBB60_terseLabel_en-US" xlink:label="lab_us-gaap_CapitalRequiredForCapitalAdequacyToRiskWeightedAssets_7B1A522D6EC2BF41C69E03CDDAEDBB60" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Effective minimum ratios under Basel III guidelines </link:label>

<link:label id="lab_us-gaap_CapitalRequiredForCapitalAdequacyToRiskWeightedAssets_7B1A522D6EC2BF41C69E03CDDAEDBB60_label_en-US" xlink:label="lab_us-gaap_CapitalRequiredForCapitalAdequacyToRiskWeightedAssets_7B1A522D6EC2BF41C69E03CDDAEDBB60" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Capital Required for Capital Adequacy to Risk Weighted Assets </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_CapitalRequiredForCapitalAdequacyToRiskWeightedAssets" xlink:label="loc_us-gaap_CapitalRequiredForCapitalAdequacyToRiskWeightedAssets_7B1A522D6EC2BF41C69E03CDDAEDBB60" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CapitalRequiredForCapitalAdequacyToRiskWeightedAssets_7B1A522D6EC2BF41C69E03CDDAEDBB60" xlink:to="lab_us-gaap_CapitalRequiredForCapitalAdequacyToRiskWeightedAssets_7B1A522D6EC2BF41C69E03CDDAEDBB60" xlink:type="arc"/>

<link:label id="lab_us-gaap_TierOneLeverageCapitalAbstract_5448558BDCAF318D343503F5F60B47EE_terseLabel_en-US" xlink:label="lab_us-gaap_TierOneLeverageCapitalAbstract_5448558BDCAF318D343503F5F60B47EE" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Tier 1 Leverage Ratio: </link:label>

<link:label id="lab_us-gaap_TierOneLeverageCapitalAbstract_5448558BDCAF318D343503F5F60B47EE_label_en-US" xlink:label="lab_us-gaap_TierOneLeverageCapitalAbstract_5448558BDCAF318D343503F5F60B47EE" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Tier One Leverage Capital [Abstract] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_TierOneLeverageCapitalAbstract" xlink:label="loc_us-gaap_TierOneLeverageCapitalAbstract_5448558BDCAF318D343503F5F60B47EE" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_TierOneLeverageCapitalAbstract_5448558BDCAF318D343503F5F60B47EE" xlink:to="lab_us-gaap_TierOneLeverageCapitalAbstract_5448558BDCAF318D343503F5F60B47EE" xlink:type="arc"/>

<link:label id="lab_us-gaap_TierOneLeverageCapitalToAverageAssets_F43FA69F6F8FAAAF58D903CDDAEDCFAB_verboseLabel_en-US" xlink:label="lab_us-gaap_TierOneLeverageCapitalToAverageAssets_F43FA69F6F8FAAAF58D903CDDAEDCFAB" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Actual </link:label>

<link:label id="lab_us-gaap_TierOneLeverageCapitalToAverageAssets_F43FA69F6F8FAAAF58D903CDDAEDCFAB_label_en-US" xlink:label="lab_us-gaap_TierOneLeverageCapitalToAverageAssets_F43FA69F6F8FAAAF58D903CDDAEDCFAB" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Tier One Leverage Capital to Average Assets </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_TierOneLeverageCapitalToAverageAssets" xlink:label="loc_us-gaap_TierOneLeverageCapitalToAverageAssets_F43FA69F6F8FAAAF58D903CDDAEDCFAB" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_TierOneLeverageCapitalToAverageAssets_F43FA69F6F8FAAAF58D903CDDAEDCFAB" xlink:to="lab_us-gaap_TierOneLeverageCapitalToAverageAssets_F43FA69F6F8FAAAF58D903CDDAEDCFAB" xlink:type="arc"/>

<link:label id="lab_us-gaap_TierOneLeverageCapitalRequiredForCapitalAdequacyToAverageAssets_36AA0E2533398EFBC80B03CDDAED3DB1_terseLabel_en-US" xlink:label="lab_us-gaap_TierOneLeverageCapitalRequiredForCapitalAdequacyToAverageAssets_36AA0E2533398EFBC80B03CDDAED3DB1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Required minimum ratio for capital adequacy purposes </link:label>

<link:label id="lab_us-gaap_TierOneLeverageCapitalRequiredForCapitalAdequacyToAverageAssets_36AA0E2533398EFBC80B03CDDAED3DB1_label_en-US" xlink:label="lab_us-gaap_TierOneLeverageCapitalRequiredForCapitalAdequacyToAverageAssets_36AA0E2533398EFBC80B03CDDAED3DB1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Tier One Leverage Capital Required for Capital Adequacy to Average Assets </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_TierOneLeverageCapitalRequiredForCapitalAdequacyToAverageAssets" xlink:label="loc_us-gaap_TierOneLeverageCapitalRequiredForCapitalAdequacyToAverageAssets_36AA0E2533398EFBC80B03CDDAED3DB1" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_TierOneLeverageCapitalRequiredForCapitalAdequacyToAverageAssets_36AA0E2533398EFBC80B03CDDAED3DB1" xlink:to="lab_us-gaap_TierOneLeverageCapitalRequiredForCapitalAdequacyToAverageAssets_36AA0E2533398EFBC80B03CDDAED3DB1" xlink:type="arc"/>

<link:label id="lab_us-gaap_CommitmentsAndContingenciesDisclosureAbstract_9F50F36B92EEC82F225427BDC747205E_label_en-US" xlink:label="lab_us-gaap_CommitmentsAndContingenciesDisclosureAbstract_9F50F36B92EEC82F225427BDC747205E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Commitments and Contingencies Disclosure [Abstract] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_CommitmentsAndContingenciesDisclosureAbstract" xlink:label="loc_us-gaap_CommitmentsAndContingenciesDisclosureAbstract_9F50F36B92EEC82F225427BDC747205E" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommitmentsAndContingenciesDisclosureAbstract_9F50F36B92EEC82F225427BDC747205E" xlink:to="lab_us-gaap_CommitmentsAndContingenciesDisclosureAbstract_9F50F36B92EEC82F225427BDC747205E" xlink:type="arc"/>

<link:label id="lab_us-gaap_ScheduleOfErrorCorrectionsAndPriorPeriodAdjustmentRestatementTable_9155D7294020CB2CE9E627BDC747E395_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfErrorCorrectionsAndPriorPeriodAdjustmentRestatementTable_9155D7294020CB2CE9E627BDC747E395" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Schedule of Error Corrections and Prior Period Adjustment Restatement [Table] </link:label>

<link:label id="lab_us-gaap_ScheduleOfErrorCorrectionsAndPriorPeriodAdjustmentRestatementTable_9155D7294020CB2CE9E627BDC747E395_label_en-US" xlink:label="lab_us-gaap_ScheduleOfErrorCorrectionsAndPriorPeriodAdjustmentRestatementTable_9155D7294020CB2CE9E627BDC747E395" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Schedule of Error Corrections and Prior Period Adjustment Restatement [Table] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ScheduleOfErrorCorrectionsAndPriorPeriodAdjustmentRestatementTable" xlink:label="loc_us-gaap_ScheduleOfErrorCorrectionsAndPriorPeriodAdjustmentRestatementTable_9155D7294020CB2CE9E627BDC747E395" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfErrorCorrectionsAndPriorPeriodAdjustmentRestatementTable_9155D7294020CB2CE9E627BDC747E395" xlink:to="lab_us-gaap_ScheduleOfErrorCorrectionsAndPriorPeriodAdjustmentRestatementTable_9155D7294020CB2CE9E627BDC747E395" xlink:type="arc"/>

<link:label id="lab_us-gaap_ErrorCorrectionsAndPriorPeriodAdjustmentsRestatementByRestatementPeriodAndAmountAxis_18F502B7ED56FED3ACA227BDC747E94A_terseLabel_en-US" xlink:label="lab_us-gaap_ErrorCorrectionsAndPriorPeriodAdjustmentsRestatementByRestatementPeriodAndAmountAxis_18F502B7ED56FED3ACA227BDC747E94A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Adjustments for Error Corrections [Axis] </link:label>

<link:label id="lab_us-gaap_ErrorCorrectionsAndPriorPeriodAdjustmentsRestatementByRestatementPeriodAndAmountAxis_18F502B7ED56FED3ACA227BDC747E94A_label_en-US" xlink:label="lab_us-gaap_ErrorCorrectionsAndPriorPeriodAdjustmentsRestatementByRestatementPeriodAndAmountAxis_18F502B7ED56FED3ACA227BDC747E94A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Adjustments for Error Corrections [Axis] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ErrorCorrectionsAndPriorPeriodAdjustmentsRestatementByRestatementPeriodAndAmountAxis" xlink:label="loc_us-gaap_ErrorCorrectionsAndPriorPeriodAdjustmentsRestatementByRestatementPeriodAndAmountAxis_18F502B7ED56FED3ACA227BDC747E94A" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ErrorCorrectionsAndPriorPeriodAdjustmentsRestatementByRestatementPeriodAndAmountAxis_18F502B7ED56FED3ACA227BDC747E94A" xlink:to="lab_us-gaap_ErrorCorrectionsAndPriorPeriodAdjustmentsRestatementByRestatementPeriodAndAmountAxis_18F502B7ED56FED3ACA227BDC747E94A" xlink:type="arc"/>

<link:label id="lab_us-gaap_AdjustmentsForErrorCorrectionDomain_6E55A6D8A17B9A84192E27BDC747EB95_terseLabel_en-US" xlink:label="lab_us-gaap_AdjustmentsForErrorCorrectionDomain_6E55A6D8A17B9A84192E27BDC747EB95" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Adjustments for Error Correction [Domain] </link:label>

<link:label id="lab_us-gaap_AdjustmentsForErrorCorrectionDomain_6E55A6D8A17B9A84192E27BDC747EB95_label_en-US" xlink:label="lab_us-gaap_AdjustmentsForErrorCorrectionDomain_6E55A6D8A17B9A84192E27BDC747EB95" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Adjustments for Error Correction [Domain] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_AdjustmentsForErrorCorrectionDomain" xlink:label="loc_us-gaap_AdjustmentsForErrorCorrectionDomain_6E55A6D8A17B9A84192E27BDC747EB95" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AdjustmentsForErrorCorrectionDomain_6E55A6D8A17B9A84192E27BDC747EB95" xlink:to="lab_us-gaap_AdjustmentsForErrorCorrectionDomain_6E55A6D8A17B9A84192E27BDC747EB95" xlink:type="arc"/>

<link:label id="lab_cit_ErrorRelatedtoFinancingAssetandRailandOtherPurchaseCommitmentsMember_52681DA383C6FA5200C327BDC7480F7D_terseLabel_en-US" xlink:label="lab_cit_ErrorRelatedtoFinancingAssetandRailandOtherPurchaseCommitmentsMember_52681DA383C6FA5200C327BDC7480F7D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Error Related to Financing Asset and Rail and Other Purchase Commitments </link:label>

<link:label id="lab_cit_ErrorRelatedtoFinancingAssetandRailandOtherPurchaseCommitmentsMember_52681DA383C6FA5200C327BDC7480F7D_label_en-US" xlink:label="lab_cit_ErrorRelatedtoFinancingAssetandRailandOtherPurchaseCommitmentsMember_52681DA383C6FA5200C327BDC7480F7D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Error Related to Financing Asset and Rail and Other Purchase Commitments [Member] </link:label>

<link:label id="lab_cit_ErrorRelatedtoFinancingAssetandRailandOtherPurchaseCommitmentsMember_52681DA383C6FA5200C327BDC7480F7D_documentation_en-US" xlink:label="lab_cit_ErrorRelatedtoFinancingAssetandRailandOtherPurchaseCommitmentsMember_52681DA383C6FA5200C327BDC7480F7D" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Error Related to Financing Asset and Rail and Other Purchase Commitments [Member] </link:label>

<link:loc xlink:href="cit-20180331.xsd#cit_ErrorRelatedtoFinancingAssetandRailandOtherPurchaseCommitmentsMember" xlink:label="loc_cit_ErrorRelatedtoFinancingAssetandRailandOtherPurchaseCommitmentsMember_52681DA383C6FA5200C327BDC7480F7D" xlink:type="locator"/>

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<link:label id="lab_us-gaap_FairValueInputsLevel3Member_65C19534C86584C752BB036097AD70AE_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueInputsLevel3Member_65C19534C86584C752BB036097AD70AE" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Level 3 </link:label>

<link:label id="lab_us-gaap_FairValueInputsLevel3Member_65C19534C86584C752BB036097AD70AE_label_en-US" xlink:label="lab_us-gaap_FairValueInputsLevel3Member_65C19534C86584C752BB036097AD70AE" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Fair Value, Inputs, Level 3 [Member] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_FairValueInputsLevel3Member" xlink:label="loc_us-gaap_FairValueInputsLevel3Member_65C19534C86584C752BB036097AD70AE" xlink:type="locator"/>

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<link:label id="lab_us-gaap_RangeAxis_956819B967C489E9626F036097AD9671_terseLabel_en-US" xlink:label="lab_us-gaap_RangeAxis_956819B967C489E9626F036097AD9671" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Range [Axis] </link:label>

<link:label id="lab_us-gaap_RangeAxis_956819B967C489E9626F036097AD9671_label_en-US" xlink:label="lab_us-gaap_RangeAxis_956819B967C489E9626F036097AD9671" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Range [Axis] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_RangeAxis" xlink:label="loc_us-gaap_RangeAxis_956819B967C489E9626F036097AD9671" xlink:type="locator"/>

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<link:label id="lab_us-gaap_RangeMember_D489DE8735FC4547762C036097AEA674_terseLabel_en-US" xlink:label="lab_us-gaap_RangeMember_D489DE8735FC4547762C036097AEA674" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Range [Domain] </link:label>

<link:label id="lab_us-gaap_RangeMember_D489DE8735FC4547762C036097AEA674_label_en-US" xlink:label="lab_us-gaap_RangeMember_D489DE8735FC4547762C036097AEA674" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Range [Domain] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_RangeMember" xlink:label="loc_us-gaap_RangeMember_D489DE8735FC4547762C036097AEA674" xlink:type="locator"/>

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<link:label id="lab_us-gaap_MinimumMember_1A6E8D8C03C1DF8FE94B036097AE39E5_terseLabel_en-US" xlink:label="lab_us-gaap_MinimumMember_1A6E8D8C03C1DF8FE94B036097AE39E5" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Minimum </link:label>

<link:label id="lab_us-gaap_MinimumMember_1A6E8D8C03C1DF8FE94B036097AE39E5_label_en-US" xlink:label="lab_us-gaap_MinimumMember_1A6E8D8C03C1DF8FE94B036097AE39E5" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Minimum [Member] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_MinimumMember" xlink:label="loc_us-gaap_MinimumMember_1A6E8D8C03C1DF8FE94B036097AE39E5" xlink:type="locator"/>

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<link:label id="lab_us-gaap_MaximumMember_953C7EB22A87DF42CFBC036097AE52BB_terseLabel_en-US" xlink:label="lab_us-gaap_MaximumMember_953C7EB22A87DF42CFBC036097AE52BB" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Maximum </link:label>

<link:label id="lab_us-gaap_MaximumMember_953C7EB22A87DF42CFBC036097AE52BB_label_en-US" xlink:label="lab_us-gaap_MaximumMember_953C7EB22A87DF42CFBC036097AE52BB" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Maximum [Member] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_MaximumMember" xlink:label="loc_us-gaap_MaximumMember_953C7EB22A87DF42CFBC036097AE52BB" xlink:type="locator"/>

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<link:label id="lab_us-gaap_WeightedAverageMember_A5D92805521D1F1B8AF4036097AE5E73_terseLabel_en-US" xlink:label="lab_us-gaap_WeightedAverageMember_A5D92805521D1F1B8AF4036097AE5E73" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Weighted Average </link:label>

<link:label id="lab_us-gaap_WeightedAverageMember_A5D92805521D1F1B8AF4036097AE5E73_label_en-US" xlink:label="lab_us-gaap_WeightedAverageMember_A5D92805521D1F1B8AF4036097AE5E73" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Weighted Average [Member] </link:label>

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<link:label id="lab_us-gaap_FairValueByAssetClassAxis_8087295990CCFD9AD4BB036097AE6327_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueByAssetClassAxis_8087295990CCFD9AD4BB036097AE6327" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Asset Class [Axis] </link:label>

<link:label id="lab_us-gaap_FairValueByAssetClassAxis_8087295990CCFD9AD4BB036097AE6327_label_en-US" xlink:label="lab_us-gaap_FairValueByAssetClassAxis_8087295990CCFD9AD4BB036097AE6327" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Asset Class [Axis] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_FairValueByAssetClassAxis" xlink:label="loc_us-gaap_FairValueByAssetClassAxis_8087295990CCFD9AD4BB036097AE6327" xlink:type="locator"/>

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<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationByAssetClassDomain" xlink:label="loc_us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationByAssetClassDomain_501A214084AE0E0F8A99036097AED254" xlink:type="locator"/>

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<link:label id="lab_us-gaap_AvailableforsaleSecuritiesMember_825FE9DEA7976E221D7D036097AE84CD_terseLabel_en-US" xlink:label="lab_us-gaap_AvailableforsaleSecuritiesMember_825FE9DEA7976E221D7D036097AE84CD" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Securities — AFS </link:label>

<link:label id="lab_us-gaap_AvailableforsaleSecuritiesMember_825FE9DEA7976E221D7D036097AE84CD_label_en-US" xlink:label="lab_us-gaap_AvailableforsaleSecuritiesMember_825FE9DEA7976E221D7D036097AE84CD" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Available-for-sale Securities [Member] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_AvailableforsaleSecuritiesMember" xlink:label="loc_us-gaap_AvailableforsaleSecuritiesMember_825FE9DEA7976E221D7D036097AE84CD" xlink:type="locator"/>

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<link:label id="lab_cit_SecuritiesCarriedAtFairValueWithChangedRecordedInNetIncomeMember_049EFC9ABF592C1DBFE7036097AEC7DC_terseLabel_en-US" xlink:label="lab_cit_SecuritiesCarriedAtFairValueWithChangedRecordedInNetIncomeMember_049EFC9ABF592C1DBFE7036097AEC7DC" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Securities carried at fair value with changes recorded in net income </link:label>

<link:label id="lab_cit_SecuritiesCarriedAtFairValueWithChangedRecordedInNetIncomeMember_049EFC9ABF592C1DBFE7036097AEC7DC_label_en-US" xlink:label="lab_cit_SecuritiesCarriedAtFairValueWithChangedRecordedInNetIncomeMember_049EFC9ABF592C1DBFE7036097AEC7DC" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Securities Carried At Fair Value With Changed Recorded In Net Income [Member] </link:label>

<link:label id="lab_cit_SecuritiesCarriedAtFairValueWithChangedRecordedInNetIncomeMember_049EFC9ABF592C1DBFE7036097AEC7DC_documentation_en-US" xlink:label="lab_cit_SecuritiesCarriedAtFairValueWithChangedRecordedInNetIncomeMember_049EFC9ABF592C1DBFE7036097AEC7DC" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Securities Carried At Fair Value With Changed Recorded In Net Income [Member] </link:label>

<link:loc xlink:href="cit-20180331.xsd#cit_SecuritiesCarriedAtFairValueWithChangedRecordedInNetIncomeMember" xlink:label="loc_cit_SecuritiesCarriedAtFairValueWithChangedRecordedInNetIncomeMember_049EFC9ABF592C1DBFE7036097AEC7DC" xlink:type="locator"/>

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<link:label id="lab_us-gaap_DerivativeFinancialInstrumentsAssetsMember_07546239703C212020FD036097AEB898_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativeFinancialInstrumentsAssetsMember_07546239703C212020FD036097AEB898" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Derivative assets — non qualifying </link:label>

<link:label id="lab_us-gaap_DerivativeFinancialInstrumentsAssetsMember_07546239703C212020FD036097AEB898_label_en-US" xlink:label="lab_us-gaap_DerivativeFinancialInstrumentsAssetsMember_07546239703C212020FD036097AEB898" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Derivative Financial Instruments, Assets [Member] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_DerivativeFinancialInstrumentsAssetsMember" xlink:label="loc_us-gaap_DerivativeFinancialInstrumentsAssetsMember_07546239703C212020FD036097AEB898" xlink:type="locator"/>

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<link:label id="lab_us-gaap_FairValueByLiabilityClassAxis_A101306A341371C54134036097AEF382_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueByLiabilityClassAxis_A101306A341371C54134036097AEF382" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Liability Class [Axis] </link:label>

<link:label id="lab_us-gaap_FairValueByLiabilityClassAxis_A101306A341371C54134036097AEF382_label_en-US" xlink:label="lab_us-gaap_FairValueByLiabilityClassAxis_A101306A341371C54134036097AEF382" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Liability Class [Axis] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_FairValueByLiabilityClassAxis" xlink:label="loc_us-gaap_FairValueByLiabilityClassAxis_A101306A341371C54134036097AEF382" xlink:type="locator"/>

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<link:label id="lab_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationByLiabilityClassDomain_7855C76D4037B295F89F036097AE6A78_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationByLiabilityClassDomain_7855C76D4037B295F89F036097AE6A78" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Fair Value by Liability Class [Domain] </link:label>

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<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationByLiabilityClassDomain" xlink:label="loc_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationByLiabilityClassDomain_7855C76D4037B295F89F036097AE6A78" xlink:type="locator"/>

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<link:label id="lab_cit_FdicTrueUpLiabilityMember_1243742343B3C28A1930036097AE8B07_terseLabel_en-US" xlink:label="lab_cit_FdicTrueUpLiabilityMember_1243742343B3C28A1930036097AE8B07" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> FDIC True-up liability </link:label>

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<link:loc xlink:href="cit-20180331.xsd#cit_ConsiderationHoldbackLiabilityMember" xlink:label="loc_cit_ConsiderationHoldbackLiabilityMember_D13A0883E8A2075D153D036097AE6208" xlink:type="locator"/>

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<link:label id="lab_us-gaap_DerivativeFinancialInstrumentsLiabilitiesMember_22B590515EA69065CD47036097AE48C9_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativeFinancialInstrumentsLiabilitiesMember_22B590515EA69065CD47036097AE48C9" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Derivative liabilities — non-qualifying </link:label>

<link:label id="lab_us-gaap_DerivativeFinancialInstrumentsLiabilitiesMember_22B590515EA69065CD47036097AE48C9_label_en-US" xlink:label="lab_us-gaap_DerivativeFinancialInstrumentsLiabilitiesMember_22B590515EA69065CD47036097AE48C9" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Derivative Financial Instruments, Liabilities [Member] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_DerivativeFinancialInstrumentsLiabilitiesMember" xlink:label="loc_us-gaap_DerivativeFinancialInstrumentsLiabilitiesMember_22B590515EA69065CD47036097AE48C9" xlink:type="locator"/>

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<link:label id="lab_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesLineItems_671CBD243ACD655229EE036097AFCB89_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesLineItems_671CBD243ACD655229EE036097AFCB89" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] </link:label>

<link:label id="lab_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesLineItems_671CBD243ACD655229EE036097AFCB89_label_en-US" xlink:label="lab_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesLineItems_671CBD243ACD655229EE036097AFCB89" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesLineItems" xlink:label="loc_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesLineItems_671CBD243ACD655229EE036097AFCB89" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesLineItems_671CBD243ACD655229EE036097AFCB89" xlink:to="lab_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesLineItems_671CBD243ACD655229EE036097AFCB89" xlink:type="arc"/>

<link:label id="lab_us-gaap_AssetsFairValueDisclosureRecurring_DE2D166F23971A0544EB036097AF56C8_terseLabel_en-US" xlink:label="lab_us-gaap_AssetsFairValueDisclosureRecurring_DE2D166F23971A0544EB036097AF56C8" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Estimated fair value - assets </link:label>

<link:label id="lab_us-gaap_AssetsFairValueDisclosureRecurring_DE2D166F23971A0544EB036097AF56C8_label_en-US" xlink:label="lab_us-gaap_AssetsFairValueDisclosureRecurring_DE2D166F23971A0544EB036097AF56C8" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Assets, Fair Value Disclosure, Recurring </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_AssetsFairValueDisclosureRecurring" xlink:label="loc_us-gaap_AssetsFairValueDisclosureRecurring_DE2D166F23971A0544EB036097AF56C8" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AssetsFairValueDisclosureRecurring_DE2D166F23971A0544EB036097AF56C8" xlink:to="lab_us-gaap_AssetsFairValueDisclosureRecurring_DE2D166F23971A0544EB036097AF56C8" xlink:type="arc"/>

<link:label id="lab_us-gaap_LiabilitiesFairValueDisclosureRecurring_B9026EB75C0AEC2F9D05036097AF7D41_negatedLabel_en-US" xlink:label="lab_us-gaap_LiabilitiesFairValueDisclosureRecurring_B9026EB75C0AEC2F9D05036097AF7D41" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US"> Estimated fair value liabilities </link:label>

<link:label id="lab_us-gaap_LiabilitiesFairValueDisclosureRecurring_B9026EB75C0AEC2F9D05036097AF7D41_label_en-US" xlink:label="lab_us-gaap_LiabilitiesFairValueDisclosureRecurring_B9026EB75C0AEC2F9D05036097AF7D41" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Liabilities, Fair Value Disclosure, Recurring </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_LiabilitiesFairValueDisclosureRecurring" xlink:label="loc_us-gaap_LiabilitiesFairValueDisclosureRecurring_B9026EB75C0AEC2F9D05036097AF7D41" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LiabilitiesFairValueDisclosureRecurring_B9026EB75C0AEC2F9D05036097AF7D41" xlink:to="lab_us-gaap_LiabilitiesFairValueDisclosureRecurring_B9026EB75C0AEC2F9D05036097AF7D41" xlink:type="arc"/>

<link:label id="lab_us-gaap_FairValueInputsDiscountRate_24F28A19C66A96CAA700036097AF20F0_verboseLabel_en-US" xlink:label="lab_us-gaap_FairValueInputsDiscountRate_24F28A19C66A96CAA700036097AF20F0" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Discount Rate </link:label>

<link:label id="lab_us-gaap_FairValueInputsDiscountRate_24F28A19C66A96CAA700036097AF20F0_label_en-US" xlink:label="lab_us-gaap_FairValueInputsDiscountRate_24F28A19C66A96CAA700036097AF20F0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Fair Value Inputs, Discount Rate </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_FairValueInputsDiscountRate" xlink:label="loc_us-gaap_FairValueInputsDiscountRate_24F28A19C66A96CAA700036097AF20F0" xlink:type="locator"/>

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<link:label id="lab_us-gaap_FairValueInputsPrepaymentRate_F7D8E9F779AB83635350036097AFA521_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueInputsPrepaymentRate_F7D8E9F779AB83635350036097AFA521" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Prepayment Rate </link:label>

<link:label id="lab_us-gaap_FairValueInputsPrepaymentRate_F7D8E9F779AB83635350036097AFA521_label_en-US" xlink:label="lab_us-gaap_FairValueInputsPrepaymentRate_F7D8E9F779AB83635350036097AFA521" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Fair Value Inputs, Prepayment Rate </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_FairValueInputsPrepaymentRate" xlink:label="loc_us-gaap_FairValueInputsPrepaymentRate_F7D8E9F779AB83635350036097AFA521" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueInputsPrepaymentRate_F7D8E9F779AB83635350036097AFA521" xlink:to="lab_us-gaap_FairValueInputsPrepaymentRate_F7D8E9F779AB83635350036097AFA521" xlink:type="arc"/>

<link:label id="lab_us-gaap_FairValueInputsProbabilityOfDefault_5306E512AA68F225D7BA036097AF07DD_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueInputsProbabilityOfDefault_5306E512AA68F225D7BA036097AF07DD" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Default Rate </link:label>

<link:label id="lab_us-gaap_FairValueInputsProbabilityOfDefault_5306E512AA68F225D7BA036097AF07DD_label_en-US" xlink:label="lab_us-gaap_FairValueInputsProbabilityOfDefault_5306E512AA68F225D7BA036097AF07DD" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Fair Value Inputs, Probability of Default </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_FairValueInputsProbabilityOfDefault" xlink:label="loc_us-gaap_FairValueInputsProbabilityOfDefault_5306E512AA68F225D7BA036097AF07DD" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueInputsProbabilityOfDefault_5306E512AA68F225D7BA036097AF07DD" xlink:to="lab_us-gaap_FairValueInputsProbabilityOfDefault_5306E512AA68F225D7BA036097AF07DD" xlink:type="arc"/>

<link:label id="lab_us-gaap_FairValueInputsLossSeverity_83DF8462981B8FCAF2FA036097AFF341_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueInputsLossSeverity_83DF8462981B8FCAF2FA036097AFF341" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Loss Severity </link:label>

<link:label id="lab_us-gaap_FairValueInputsLossSeverity_83DF8462981B8FCAF2FA036097AFF341_label_en-US" xlink:label="lab_us-gaap_FairValueInputsLossSeverity_83DF8462981B8FCAF2FA036097AFF341" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Fair Value Inputs, Loss Severity </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_FairValueInputsLossSeverity" xlink:label="loc_us-gaap_FairValueInputsLossSeverity_83DF8462981B8FCAF2FA036097AFF341" xlink:type="locator"/>

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<link:label id="lab_cit_FairValueMeasurementsBorrowerRate_674EEE2F35CB62A43DDE036097AFA2F0_terseLabel_en-US" xlink:label="lab_cit_FairValueMeasurementsBorrowerRate_674EEE2F35CB62A43DDE036097AFA2F0" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Borrower Rate </link:label>

<link:label id="lab_cit_FairValueMeasurementsBorrowerRate_674EEE2F35CB62A43DDE036097AFA2F0_label_en-US" xlink:label="lab_cit_FairValueMeasurementsBorrowerRate_674EEE2F35CB62A43DDE036097AFA2F0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Fair Value Measurements, Borrower Rate </link:label>

<link:label id="lab_cit_FairValueMeasurementsBorrowerRate_674EEE2F35CB62A43DDE036097AFA2F0_documentation_en-US" xlink:label="lab_cit_FairValueMeasurementsBorrowerRate_674EEE2F35CB62A43DDE036097AFA2F0" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Fair value measurements, borrower rate </link:label>

<link:loc xlink:href="cit-20180331.xsd#cit_FairValueMeasurementsBorrowerRate" xlink:label="loc_cit_FairValueMeasurementsBorrowerRate_674EEE2F35CB62A43DDE036097AFA2F0" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cit_FairValueMeasurementsBorrowerRate_674EEE2F35CB62A43DDE036097AFA2F0" xlink:to="lab_cit_FairValueMeasurementsBorrowerRate_674EEE2F35CB62A43DDE036097AFA2F0" xlink:type="arc"/>

<link:label id="lab_cit_FairValueMeasurementsPaymentProbability_4DCF1FC4E2B64D0B792D036097AF846A_terseLabel_en-US" xlink:label="lab_cit_FairValueMeasurementsPaymentProbability_4DCF1FC4E2B64D0B792D036097AF846A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Payment Probability </link:label>

<link:label id="lab_cit_FairValueMeasurementsPaymentProbability_4DCF1FC4E2B64D0B792D036097AF846A_label_en-US" xlink:label="lab_cit_FairValueMeasurementsPaymentProbability_4DCF1FC4E2B64D0B792D036097AF846A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Fair value measurements, Payment Probability </link:label>

<link:label id="lab_cit_FairValueMeasurementsPaymentProbability_4DCF1FC4E2B64D0B792D036097AF846A_documentation_en-US" xlink:label="lab_cit_FairValueMeasurementsPaymentProbability_4DCF1FC4E2B64D0B792D036097AF846A" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Fair value measurements, payment probability </link:label>

<link:loc xlink:href="cit-20180331.xsd#cit_FairValueMeasurementsPaymentProbability" xlink:label="loc_cit_FairValueMeasurementsPaymentProbability_4DCF1FC4E2B64D0B792D036097AF846A" xlink:type="locator"/>

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<link:label id="lab_us-gaap_ReceivablesAbstract_C81742ACFD4C8E39DE9A0802A531C8FD_label_en-US" xlink:label="lab_us-gaap_ReceivablesAbstract_C81742ACFD4C8E39DE9A0802A531C8FD" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Receivables [Abstract] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ReceivablesAbstract" xlink:label="loc_us-gaap_ReceivablesAbstract_C81742ACFD4C8E39DE9A0802A531C8FD" xlink:type="locator"/>

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<link:label id="lab_us-gaap_ScheduleOfAccountsNotesLoansAndFinancingReceivableTable_506EE111820BFBE4E3780802A53113D5_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfAccountsNotesLoansAndFinancingReceivableTable_506EE111820BFBE4E3780802A53113D5" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Schedule of Accounts, Notes, Loans and Financing Receivable [Table] </link:label>

<link:label id="lab_us-gaap_ScheduleOfAccountsNotesLoansAndFinancingReceivableTable_506EE111820BFBE4E3780802A53113D5_label_en-US" xlink:label="lab_us-gaap_ScheduleOfAccountsNotesLoansAndFinancingReceivableTable_506EE111820BFBE4E3780802A53113D5" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Schedule of Accounts, Notes, Loans and Financing Receivable [Table] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ScheduleOfAccountsNotesLoansAndFinancingReceivableTable" xlink:label="loc_us-gaap_ScheduleOfAccountsNotesLoansAndFinancingReceivableTable_506EE111820BFBE4E3780802A53113D5" xlink:type="locator"/>

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<link:label id="lab_us-gaap_FinancingReceivablePortfolioSegmentAxis_58464FFAC6777BE45CA80802A531601D_terseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivablePortfolioSegmentAxis_58464FFAC6777BE45CA80802A531601D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Financing Receivable Portfolio Segment [Axis] </link:label>

<link:label id="lab_us-gaap_FinancingReceivablePortfolioSegmentAxis_58464FFAC6777BE45CA80802A531601D_label_en-US" xlink:label="lab_us-gaap_FinancingReceivablePortfolioSegmentAxis_58464FFAC6777BE45CA80802A531601D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Financing Receivable Portfolio Segment [Axis] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_FinancingReceivablePortfolioSegmentAxis" xlink:label="loc_us-gaap_FinancingReceivablePortfolioSegmentAxis_58464FFAC6777BE45CA80802A531601D" xlink:type="locator"/>

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<link:label id="lab_us-gaap_FinancingReceivablePortfolioSegmentDomain_3940D48E422B15EA5DAD0802A531CBBA_terseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivablePortfolioSegmentDomain_3940D48E422B15EA5DAD0802A531CBBA" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Financing Receivable Portfolio Segment [Domain] </link:label>

<link:label id="lab_us-gaap_FinancingReceivablePortfolioSegmentDomain_3940D48E422B15EA5DAD0802A531CBBA_label_en-US" xlink:label="lab_us-gaap_FinancingReceivablePortfolioSegmentDomain_3940D48E422B15EA5DAD0802A531CBBA" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Financing Receivable Portfolio Segment [Domain] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_FinancingReceivablePortfolioSegmentDomain" xlink:label="loc_us-gaap_FinancingReceivablePortfolioSegmentDomain_3940D48E422B15EA5DAD0802A531CBBA" xlink:type="locator"/>

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<link:label id="lab_us-gaap_ConsumerPortfolioSegmentMember_47DDF2235939968518C20802A5322D31_terseLabel_en-US" xlink:label="lab_us-gaap_ConsumerPortfolioSegmentMember_47DDF2235939968518C20802A5322D31" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Consumer Banking </link:label>

<link:label id="lab_us-gaap_ConsumerPortfolioSegmentMember_47DDF2235939968518C20802A5322D31_label_en-US" xlink:label="lab_us-gaap_ConsumerPortfolioSegmentMember_47DDF2235939968518C20802A5322D31" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Consumer Portfolio Segment [Member] </link:label>

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<link:label id="lab_us-gaap_HomeAffordableModificationProgramHampMember_DB08D325EB4D85DE7E640802A5321DE4_terseLabel_en-US" xlink:label="lab_us-gaap_HomeAffordableModificationProgramHampMember_DB08D325EB4D85DE7E640802A5321DE4" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Home Affordable Modification Program (HAMP) </link:label>

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<link:label id="lab_us-gaap_InvestmentTypeAxis_D38F6DD93207B47BED090802A5330B07_terseLabel_en-US" xlink:label="lab_us-gaap_InvestmentTypeAxis_D38F6DD93207B47BED090802A5330B07" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Investment Type [Axis] </link:label>

<link:label id="lab_us-gaap_InvestmentTypeAxis_D38F6DD93207B47BED090802A5330B07_label_en-US" xlink:label="lab_us-gaap_InvestmentTypeAxis_D38F6DD93207B47BED090802A5330B07" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Investment Type [Axis] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_InvestmentTypeAxis" xlink:label="loc_us-gaap_InvestmentTypeAxis_D38F6DD93207B47BED090802A5330B07" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InvestmentTypeAxis_D38F6DD93207B47BED090802A5330B07" xlink:to="lab_us-gaap_InvestmentTypeAxis_D38F6DD93207B47BED090802A5330B07" xlink:type="arc"/>

<link:label id="lab_us-gaap_InvestmentTypeCategorizationMember_34DEFCBA9D576814FFB70802A53369D3_terseLabel_en-US" xlink:label="lab_us-gaap_InvestmentTypeCategorizationMember_34DEFCBA9D576814FFB70802A53369D3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Investments [Domain] </link:label>

<link:label id="lab_us-gaap_InvestmentTypeCategorizationMember_34DEFCBA9D576814FFB70802A53369D3_label_en-US" xlink:label="lab_us-gaap_InvestmentTypeCategorizationMember_34DEFCBA9D576814FFB70802A53369D3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Investments [Domain] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_InvestmentTypeCategorizationMember" xlink:label="loc_us-gaap_InvestmentTypeCategorizationMember_34DEFCBA9D576814FFB70802A53369D3" xlink:type="locator"/>

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<link:label id="lab_us-gaap_DisposalGroupClassificationAxis_55D00C811745745A1F610802A5335C9A_terseLabel_en-US" xlink:label="lab_us-gaap_DisposalGroupClassificationAxis_55D00C811745745A1F610802A5335C9A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Disposal Group Classification [Axis] </link:label>

<link:label id="lab_us-gaap_DisposalGroupClassificationAxis_55D00C811745745A1F610802A5335C9A_label_en-US" xlink:label="lab_us-gaap_DisposalGroupClassificationAxis_55D00C811745745A1F610802A5335C9A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Disposal Group Classification [Axis] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_DisposalGroupClassificationAxis" xlink:label="loc_us-gaap_DisposalGroupClassificationAxis_55D00C811745745A1F610802A5335C9A" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DisposalGroupClassificationAxis_55D00C811745745A1F610802A5335C9A" xlink:to="lab_us-gaap_DisposalGroupClassificationAxis_55D00C811745745A1F610802A5335C9A" xlink:type="arc"/>

<link:label id="lab_us-gaap_DisposalGroupClassificationDomain_9E16C59A5339D9C2D6BA0802A533E4DB_terseLabel_en-US" xlink:label="lab_us-gaap_DisposalGroupClassificationDomain_9E16C59A5339D9C2D6BA0802A533E4DB" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Disposal Group Classification [Domain] </link:label>

<link:label id="lab_us-gaap_DisposalGroupClassificationDomain_9E16C59A5339D9C2D6BA0802A533E4DB_label_en-US" xlink:label="lab_us-gaap_DisposalGroupClassificationDomain_9E16C59A5339D9C2D6BA0802A533E4DB" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Disposal Group Classification [Domain] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_DisposalGroupClassificationDomain" xlink:label="loc_us-gaap_DisposalGroupClassificationDomain_9E16C59A5339D9C2D6BA0802A533E4DB" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DisposalGroupClassificationDomain_9E16C59A5339D9C2D6BA0802A533E4DB" xlink:to="lab_us-gaap_DisposalGroupClassificationDomain_9E16C59A5339D9C2D6BA0802A533E4DB" xlink:type="arc"/>

<link:label id="lab_us-gaap_DisposalGroupHeldforsaleNotDiscontinuedOperationsMember_D4CA0B8395B54751140E0802A533A5AA_terseLabel_en-US" xlink:label="lab_us-gaap_DisposalGroupHeldforsaleNotDiscontinuedOperationsMember_D4CA0B8395B54751140E0802A533A5AA" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Assets Held-For-Sale (AHFS) </link:label>

<link:label id="lab_us-gaap_DisposalGroupHeldforsaleNotDiscontinuedOperationsMember_D4CA0B8395B54751140E0802A533A5AA_label_en-US" xlink:label="lab_us-gaap_DisposalGroupHeldforsaleNotDiscontinuedOperationsMember_D4CA0B8395B54751140E0802A533A5AA" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Disposal Group, Held-for-sale, Not Discontinued Operations [Member] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_DisposalGroupHeldforsaleNotDiscontinuedOperationsMember" xlink:label="loc_us-gaap_DisposalGroupHeldforsaleNotDiscontinuedOperationsMember_D4CA0B8395B54751140E0802A533A5AA" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DisposalGroupHeldforsaleNotDiscontinuedOperationsMember_D4CA0B8395B54751140E0802A533A5AA" xlink:to="lab_us-gaap_DisposalGroupHeldforsaleNotDiscontinuedOperationsMember_D4CA0B8395B54751140E0802A533A5AA" xlink:type="arc"/>

<link:label id="lab_us-gaap_AccountsNotesAndLoansReceivableLineItems_E560DE9648DC7D562D070802A5330A89_terseLabel_en-US" xlink:label="lab_us-gaap_AccountsNotesAndLoansReceivableLineItems_E560DE9648DC7D562D070802A5330A89" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Accounts, Notes, Loans and Financing Receivable [Line Items] </link:label>

<link:label id="lab_us-gaap_AccountsNotesAndLoansReceivableLineItems_E560DE9648DC7D562D070802A5330A89_label_en-US" xlink:label="lab_us-gaap_AccountsNotesAndLoansReceivableLineItems_E560DE9648DC7D562D070802A5330A89" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Accounts, Notes, Loans and Financing Receivable [Line Items] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_AccountsNotesAndLoansReceivableLineItems" xlink:label="loc_us-gaap_AccountsNotesAndLoansReceivableLineItems_E560DE9648DC7D562D070802A5330A89" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AccountsNotesAndLoansReceivableLineItems_E560DE9648DC7D562D070802A5330A89" xlink:to="lab_us-gaap_AccountsNotesAndLoansReceivableLineItems_E560DE9648DC7D562D070802A5330A89" xlink:type="arc"/>

<link:label id="lab_us-gaap_MortgageLoansOnRealEstateAmortizationOfPremium_CA1A148A87B4FA2ADEEF0802A533AC29_terseLabel_en-US" xlink:label="lab_us-gaap_MortgageLoansOnRealEstateAmortizationOfPremium_CA1A148A87B4FA2ADEEF0802A533AC29" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Loans with terms that permitted negative amortization, unpaid principal balance </link:label>

<link:label id="lab_us-gaap_MortgageLoansOnRealEstateAmortizationOfPremium_CA1A148A87B4FA2ADEEF0802A533AC29_label_en-US" xlink:label="lab_us-gaap_MortgageLoansOnRealEstateAmortizationOfPremium_CA1A148A87B4FA2ADEEF0802A533AC29" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Mortgage Loans on Real Estate, Amortization of Premium </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_MortgageLoansOnRealEstateAmortizationOfPremium" xlink:label="loc_us-gaap_MortgageLoansOnRealEstateAmortizationOfPremium_CA1A148A87B4FA2ADEEF0802A533AC29" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_MortgageLoansOnRealEstateAmortizationOfPremium_CA1A148A87B4FA2ADEEF0802A533AC29" xlink:to="lab_us-gaap_MortgageLoansOnRealEstateAmortizationOfPremium_CA1A148A87B4FA2ADEEF0802A533AC29" xlink:type="arc"/>

<link:label id="lab_us-gaap_FinancingReceivableIndividuallyEvaluatedForImpairment_82FE943AE3FC90FD041F0802A533248F_verboseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableIndividuallyEvaluatedForImpairment_82FE943AE3FC90FD041F0802A533248F" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Impaired loan threshold for individual review for impairment </link:label>

<link:label id="lab_us-gaap_FinancingReceivableIndividuallyEvaluatedForImpairment_82FE943AE3FC90FD041F0802A533248F_label_en-US" xlink:label="lab_us-gaap_FinancingReceivableIndividuallyEvaluatedForImpairment_82FE943AE3FC90FD041F0802A533248F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Financing Receivable, Individually Evaluated for Impairment </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_FinancingReceivableIndividuallyEvaluatedForImpairment" xlink:label="loc_us-gaap_FinancingReceivableIndividuallyEvaluatedForImpairment_82FE943AE3FC90FD041F0802A533248F" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinancingReceivableIndividuallyEvaluatedForImpairment_82FE943AE3FC90FD041F0802A533248F" xlink:to="lab_us-gaap_FinancingReceivableIndividuallyEvaluatedForImpairment_82FE943AE3FC90FD041F0802A533248F" xlink:type="arc"/>

<link:label id="lab_us-gaap_ThresholdPeriodPastDueForWriteoffOfFinancingReceivable_BFA458295E7B52E14F670802A5337A61_terseLabel_en-US" xlink:label="lab_us-gaap_ThresholdPeriodPastDueForWriteoffOfFinancingReceivable_BFA458295E7B52E14F670802A5337A61" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Days past due </link:label>

<link:label id="lab_us-gaap_ThresholdPeriodPastDueForWriteoffOfFinancingReceivable_BFA458295E7B52E14F670802A5337A61_label_en-US" xlink:label="lab_us-gaap_ThresholdPeriodPastDueForWriteoffOfFinancingReceivable_BFA458295E7B52E14F670802A5337A61" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Threshold Period Past Due for Write-off of Financing Receivable </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ThresholdPeriodPastDueForWriteoffOfFinancingReceivable" xlink:label="loc_us-gaap_ThresholdPeriodPastDueForWriteoffOfFinancingReceivable_BFA458295E7B52E14F670802A5337A61" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ThresholdPeriodPastDueForWriteoffOfFinancingReceivable_BFA458295E7B52E14F670802A5337A61" xlink:to="lab_us-gaap_ThresholdPeriodPastDueForWriteoffOfFinancingReceivable_BFA458295E7B52E14F670802A5337A61" xlink:type="arc"/>

<link:label id="lab_us-gaap_LoanRestructuringTrialModificationsAmount_0AECDB481B2A43EF2A790802A533DB50_terseLabel_en-US" xlink:label="lab_us-gaap_LoanRestructuringTrialModificationsAmount_0AECDB481B2A43EF2A790802A533DB50" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Loans in trial modification period </link:label>

<link:label id="lab_us-gaap_LoanRestructuringTrialModificationsAmount_0AECDB481B2A43EF2A790802A533DB50_label_en-US" xlink:label="lab_us-gaap_LoanRestructuringTrialModificationsAmount_0AECDB481B2A43EF2A790802A533DB50" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Loan Restructuring, Trial Modifications, Amount </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_LoanRestructuringTrialModificationsAmount" xlink:label="loc_us-gaap_LoanRestructuringTrialModificationsAmount_0AECDB481B2A43EF2A790802A533DB50" xlink:type="locator"/>

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<link:label id="lab_us-gaap_FinancingReceivableModificationsRecordedInvestment_672847037865871027410802A533FAFF_terseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableModificationsRecordedInvestment_672847037865871027410802A533FAFF" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Recorded investment of TDRs </link:label>

<link:label id="lab_us-gaap_FinancingReceivableModificationsRecordedInvestment_672847037865871027410802A533FAFF_label_en-US" xlink:label="lab_us-gaap_FinancingReceivableModificationsRecordedInvestment_672847037865871027410802A533FAFF" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Financing Receivable, Modifications, Recorded Investment </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_FinancingReceivableModificationsRecordedInvestment" xlink:label="loc_us-gaap_FinancingReceivableModificationsRecordedInvestment_672847037865871027410802A533FAFF" xlink:type="locator"/>

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<link:label id="lab_cit_PercentageOfModificationsOnNonAccrual_EFCF44969F665A37CB8D0802A53381A8_terseLabel_en-US" xlink:label="lab_cit_PercentageOfModificationsOnNonAccrual_EFCF44969F665A37CB8D0802A53381A8" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Percentage of TDRs non-accrual </link:label>

<link:label id="lab_cit_PercentageOfModificationsOnNonAccrual_EFCF44969F665A37CB8D0802A53381A8_label_en-US" xlink:label="lab_cit_PercentageOfModificationsOnNonAccrual_EFCF44969F665A37CB8D0802A53381A8" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Percentage Of Modifications On Non Accrual </link:label>

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<link:loc xlink:href="cit-20180331.xsd#cit_PercentageOfModificationsOnNonAccrual" xlink:label="loc_cit_PercentageOfModificationsOnNonAccrual_EFCF44969F665A37CB8D0802A53381A8" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cit_PercentageOfModificationsOnNonAccrual_EFCF44969F665A37CB8D0802A53381A8" xlink:to="lab_cit_PercentageOfModificationsOnNonAccrual_EFCF44969F665A37CB8D0802A53381A8" xlink:type="arc"/>

<link:label id="lab_cit_PercentageOfInvestmentsInTroubledDebtRestructurings_B66FA0E6DC2F8853A51B0802A533720B_terseLabel_en-US" xlink:label="lab_cit_PercentageOfInvestmentsInTroubledDebtRestructurings_B66FA0E6DC2F8853A51B0802A533720B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Percentage of investments in TDR </link:label>

<link:label id="lab_cit_PercentageOfInvestmentsInTroubledDebtRestructurings_B66FA0E6DC2F8853A51B0802A533720B_label_en-US" xlink:label="lab_cit_PercentageOfInvestmentsInTroubledDebtRestructurings_B66FA0E6DC2F8853A51B0802A533720B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Percentage Of Investments In Troubled Debt Restructurings </link:label>

<link:label id="lab_cit_PercentageOfInvestmentsInTroubledDebtRestructurings_B66FA0E6DC2F8853A51B0802A533720B_documentation_en-US" xlink:label="lab_cit_PercentageOfInvestmentsInTroubledDebtRestructurings_B66FA0E6DC2F8853A51B0802A533720B" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Percentage of investments in troubled debt restructurings. </link:label>

<link:loc xlink:href="cit-20180331.xsd#cit_PercentageOfInvestmentsInTroubledDebtRestructurings" xlink:label="loc_cit_PercentageOfInvestmentsInTroubledDebtRestructurings_B66FA0E6DC2F8853A51B0802A533720B" xlink:type="locator"/>

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<link:label id="lab_us-gaap_LoansAndLeasesReceivableImpairedCommitmentToLend_805A9F33CDC6D93743220802A534D5BB_terseLabel_en-US" xlink:label="lab_us-gaap_LoansAndLeasesReceivableImpairedCommitmentToLend_805A9F33CDC6D93743220802A534D5BB" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Commitments to lend additional funds to borrowers whose loan terms have been modified in TDRs </link:label>

<link:label id="lab_us-gaap_LoansAndLeasesReceivableImpairedCommitmentToLend_805A9F33CDC6D93743220802A534D5BB_label_en-US" xlink:label="lab_us-gaap_LoansAndLeasesReceivableImpairedCommitmentToLend_805A9F33CDC6D93743220802A534D5BB" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Loans and Leases Receivable, Impaired, Commitment to Lend </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_LoansAndLeasesReceivableImpairedCommitmentToLend" xlink:label="loc_us-gaap_LoansAndLeasesReceivableImpairedCommitmentToLend_805A9F33CDC6D93743220802A534D5BB" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LoansAndLeasesReceivableImpairedCommitmentToLend_805A9F33CDC6D93743220802A534D5BB" xlink:to="lab_us-gaap_LoansAndLeasesReceivableImpairedCommitmentToLend_805A9F33CDC6D93743220802A534D5BB" xlink:type="arc"/>

<link:label id="lab_cit_RecordedInvestmentTroubledDebtRestructuringRelatedToModifications_E68DB8D8597AC9F0E8030802A534EF10_terseLabel_en-US" xlink:label="lab_cit_RecordedInvestmentTroubledDebtRestructuringRelatedToModifications_E68DB8D8597AC9F0E8030802A534EF10" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Troubled debt restructuring related to modifications </link:label>

<link:label id="lab_cit_RecordedInvestmentTroubledDebtRestructuringRelatedToModifications_E68DB8D8597AC9F0E8030802A534EF10_label_en-US" xlink:label="lab_cit_RecordedInvestmentTroubledDebtRestructuringRelatedToModifications_E68DB8D8597AC9F0E8030802A534EF10" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Recorded investment, troubled debt restructuring related to modifications </link:label>

<link:label id="lab_cit_RecordedInvestmentTroubledDebtRestructuringRelatedToModifications_E68DB8D8597AC9F0E8030802A534EF10_documentation_en-US" xlink:label="lab_cit_RecordedInvestmentTroubledDebtRestructuringRelatedToModifications_E68DB8D8597AC9F0E8030802A534EF10" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Recorded investment, troubled debt restructuring related to modifications. </link:label>

<link:loc xlink:href="cit-20180331.xsd#cit_RecordedInvestmentTroubledDebtRestructuringRelatedToModifications" xlink:label="loc_cit_RecordedInvestmentTroubledDebtRestructuringRelatedToModifications_E68DB8D8597AC9F0E8030802A534EF10" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cit_RecordedInvestmentTroubledDebtRestructuringRelatedToModifications_E68DB8D8597AC9F0E8030802A534EF10" xlink:to="lab_cit_RecordedInvestmentTroubledDebtRestructuringRelatedToModifications_E68DB8D8597AC9F0E8030802A534EF10" xlink:type="arc"/>

<link:label id="lab_cit_RecordedInvestmentTroubledDebtRestructuringsThatSubsequentlyDefaultedWithinOneYear_83ED4AA832D4FC7EB7390802A534CAB7_terseLabel_en-US" xlink:label="lab_cit_RecordedInvestmentTroubledDebtRestructuringsThatSubsequentlyDefaultedWithinOneYear_83ED4AA832D4FC7EB7390802A534CAB7" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Troubled debt restructurings that defaulted within one year </link:label>

<link:label id="lab_cit_RecordedInvestmentTroubledDebtRestructuringsThatSubsequentlyDefaultedWithinOneYear_83ED4AA832D4FC7EB7390802A534CAB7_label_en-US" xlink:label="lab_cit_RecordedInvestmentTroubledDebtRestructuringsThatSubsequentlyDefaultedWithinOneYear_83ED4AA832D4FC7EB7390802A534CAB7" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Recorded investment, troubled debt restructurings that subsequently defaulted within one year </link:label>

<link:label id="lab_cit_RecordedInvestmentTroubledDebtRestructuringsThatSubsequentlyDefaultedWithinOneYear_83ED4AA832D4FC7EB7390802A534CAB7_documentation_en-US" xlink:label="lab_cit_RecordedInvestmentTroubledDebtRestructuringsThatSubsequentlyDefaultedWithinOneYear_83ED4AA832D4FC7EB7390802A534CAB7" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Recorded investment, troubled debt restructurings that subsequently defaulted within one year. </link:label>

<link:loc xlink:href="cit-20180331.xsd#cit_RecordedInvestmentTroubledDebtRestructuringsThatSubsequentlyDefaultedWithinOneYear" xlink:label="loc_cit_RecordedInvestmentTroubledDebtRestructuringsThatSubsequentlyDefaultedWithinOneYear_83ED4AA832D4FC7EB7390802A534CAB7" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cit_RecordedInvestmentTroubledDebtRestructuringsThatSubsequentlyDefaultedWithinOneYear_83ED4AA832D4FC7EB7390802A534CAB7" xlink:to="lab_cit_RecordedInvestmentTroubledDebtRestructuringsThatSubsequentlyDefaultedWithinOneYear_83ED4AA832D4FC7EB7390802A534CAB7" xlink:type="arc"/>

<link:label id="lab_cit_FinancingReceivableImpairedTroubledDebtRestructuringPercentageofLoansSubsequentlyDefaulted_C3599E7E148F93DC6EBF08212740D071_terseLabel_en-US" xlink:label="lab_cit_FinancingReceivableImpairedTroubledDebtRestructuringPercentageofLoansSubsequentlyDefaulted_C3599E7E148F93DC6EBF08212740D071" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Troubled debt restructurings, percentage of loans defaulted </link:label>

<link:label id="lab_cit_FinancingReceivableImpairedTroubledDebtRestructuringPercentageofLoansSubsequentlyDefaulted_C3599E7E148F93DC6EBF08212740D071_label_en-US" xlink:label="lab_cit_FinancingReceivableImpairedTroubledDebtRestructuringPercentageofLoansSubsequentlyDefaulted_C3599E7E148F93DC6EBF08212740D071" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Financing Receivable, Impaired, Troubled Debt Restructuring, Percentage of Loans Subsequently Defaulted </link:label>

<link:label id="lab_cit_FinancingReceivableImpairedTroubledDebtRestructuringPercentageofLoansSubsequentlyDefaulted_C3599E7E148F93DC6EBF08212740D071_documentation_en-US" xlink:label="lab_cit_FinancingReceivableImpairedTroubledDebtRestructuringPercentageofLoansSubsequentlyDefaulted_C3599E7E148F93DC6EBF08212740D071" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Financing Receivable, Impaired, Troubled Debt Restructuring, Percentage of Loans Subsequently Defaulted </link:label>

<link:loc xlink:href="cit-20180331.xsd#cit_FinancingReceivableImpairedTroubledDebtRestructuringPercentageofLoansSubsequentlyDefaulted" xlink:label="loc_cit_FinancingReceivableImpairedTroubledDebtRestructuringPercentageofLoansSubsequentlyDefaulted_C3599E7E148F93DC6EBF08212740D071" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cit_FinancingReceivableImpairedTroubledDebtRestructuringPercentageofLoansSubsequentlyDefaulted_C3599E7E148F93DC6EBF08212740D071" xlink:to="lab_cit_FinancingReceivableImpairedTroubledDebtRestructuringPercentageofLoansSubsequentlyDefaulted_C3599E7E148F93DC6EBF08212740D071" xlink:type="arc"/>

<link:label id="lab_cit_TroubledDebtRestructuringPaymentDeferralRate_E0AAFC1EC198636260770802A534FEDA_terseLabel_en-US" xlink:label="lab_cit_TroubledDebtRestructuringPaymentDeferralRate_E0AAFC1EC198636260770802A534FEDA" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Troubled debt restructuring, payment deferral rate (percentage) </link:label>

<link:label id="lab_cit_TroubledDebtRestructuringPaymentDeferralRate_E0AAFC1EC198636260770802A534FEDA_label_en-US" xlink:label="lab_cit_TroubledDebtRestructuringPaymentDeferralRate_E0AAFC1EC198636260770802A534FEDA" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Troubled Debt Restructuring, Payment Deferral Rate </link:label>

<link:label id="lab_cit_TroubledDebtRestructuringPaymentDeferralRate_E0AAFC1EC198636260770802A534FEDA_documentation_en-US" xlink:label="lab_cit_TroubledDebtRestructuringPaymentDeferralRate_E0AAFC1EC198636260770802A534FEDA" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Troubled debt restructuring, payment deferral rate. </link:label>

<link:loc xlink:href="cit-20180331.xsd#cit_TroubledDebtRestructuringPaymentDeferralRate" xlink:label="loc_cit_TroubledDebtRestructuringPaymentDeferralRate_E0AAFC1EC198636260770802A534FEDA" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cit_TroubledDebtRestructuringPaymentDeferralRate_E0AAFC1EC198636260770802A534FEDA" xlink:to="lab_cit_TroubledDebtRestructuringPaymentDeferralRate_E0AAFC1EC198636260770802A534FEDA" xlink:type="arc"/>

<link:label id="lab_cit_TroubledDebtRestructuringCovenantReliefRateOther_3580B60FDC9ADDAF847D0802A5343EF9_terseLabel_en-US" xlink:label="lab_cit_TroubledDebtRestructuringCovenantReliefRateOther_3580B60FDC9ADDAF847D0802A5343EF9" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Troubled debt restructuring, covenant relief rate, other (percentage) </link:label>

<link:label id="lab_cit_TroubledDebtRestructuringCovenantReliefRateOther_3580B60FDC9ADDAF847D0802A5343EF9_label_en-US" xlink:label="lab_cit_TroubledDebtRestructuringCovenantReliefRateOther_3580B60FDC9ADDAF847D0802A5343EF9" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Troubled Debt Restructuring, Covenant Relief Rate Other </link:label>

<link:label id="lab_cit_TroubledDebtRestructuringCovenantReliefRateOther_3580B60FDC9ADDAF847D0802A5343EF9_documentation_en-US" xlink:label="lab_cit_TroubledDebtRestructuringCovenantReliefRateOther_3580B60FDC9ADDAF847D0802A5343EF9" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Troubled debt restructuring, covenant relief rate other. </link:label>

<link:loc xlink:href="cit-20180331.xsd#cit_TroubledDebtRestructuringCovenantReliefRateOther" xlink:label="loc_cit_TroubledDebtRestructuringCovenantReliefRateOther_3580B60FDC9ADDAF847D0802A5343EF9" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cit_TroubledDebtRestructuringCovenantReliefRateOther_3580B60FDC9ADDAF847D0802A5343EF9" xlink:to="lab_cit_TroubledDebtRestructuringCovenantReliefRateOther_3580B60FDC9ADDAF847D0802A5343EF9" xlink:type="arc"/>

<link:label id="lab_us-gaap_NotesReceivableNet_5D4541E6A4299CFE02C90802A534A9B2_terseLabel_en-US" xlink:label="lab_us-gaap_NotesReceivableNet_5D4541E6A4299CFE02C90802A534A9B2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Loans </link:label>

<link:label id="lab_us-gaap_NotesReceivableNet_5D4541E6A4299CFE02C90802A534A9B2_label_en-US" xlink:label="lab_us-gaap_NotesReceivableNet_5D4541E6A4299CFE02C90802A534A9B2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Financing Receivable, Net </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_NotesReceivableNet" xlink:label="loc_us-gaap_NotesReceivableNet_5D4541E6A4299CFE02C90802A534A9B2" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NotesReceivableNet_5D4541E6A4299CFE02C90802A534A9B2" xlink:to="lab_us-gaap_NotesReceivableNet_5D4541E6A4299CFE02C90802A534A9B2" xlink:type="arc"/>

<link:label id="lab_us-gaap_CashUninsuredAmount_55E3079D352C28B2A5C50802A5345D0C_terseLabel_en-US" xlink:label="lab_us-gaap_CashUninsuredAmount_55E3079D352C28B2A5C50802A5345D0C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Amount of reverse mortgages uninsured </link:label>

<link:label id="lab_us-gaap_CashUninsuredAmount_55E3079D352C28B2A5C50802A5345D0C_label_en-US" xlink:label="lab_us-gaap_CashUninsuredAmount_55E3079D352C28B2A5C50802A5345D0C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Cash, Uninsured Amount </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_CashUninsuredAmount" xlink:label="loc_us-gaap_CashUninsuredAmount_55E3079D352C28B2A5C50802A5345D0C" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CashUninsuredAmount_55E3079D352C28B2A5C50802A5345D0C" xlink:to="lab_us-gaap_CashUninsuredAmount_55E3079D352C28B2A5C50802A5345D0C" xlink:type="arc"/>

<link:label id="lab_cit_NumberOfLoansInPortfolio_90828F93962F4879BFA10802A5345E14_terseLabel_en-US" xlink:label="lab_cit_NumberOfLoansInPortfolio_90828F93962F4879BFA10802A5345E14" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Number of loans in portfolio </link:label>

<link:label id="lab_cit_NumberOfLoansInPortfolio_90828F93962F4879BFA10802A5345E14_label_en-US" xlink:label="lab_cit_NumberOfLoansInPortfolio_90828F93962F4879BFA10802A5345E14" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Number Of Loans In Portfolio </link:label>

<link:label id="lab_cit_NumberOfLoansInPortfolio_90828F93962F4879BFA10802A5345E14_documentation_en-US" xlink:label="lab_cit_NumberOfLoansInPortfolio_90828F93962F4879BFA10802A5345E14" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Number Of Loans In Portfolio </link:label>

<link:loc xlink:href="cit-20180331.xsd#cit_NumberOfLoansInPortfolio" xlink:label="loc_cit_NumberOfLoansInPortfolio_90828F93962F4879BFA10802A5345E14" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cit_NumberOfLoansInPortfolio_90828F93962F4879BFA10802A5345E14" xlink:to="lab_cit_NumberOfLoansInPortfolio_90828F93962F4879BFA10802A5345E14" xlink:type="arc"/>

<link:label id="lab_us-gaap_MortgageLoansOnRealEstate_E115604B7B893D8142180802A5344984_terseLabel_en-US" xlink:label="lab_us-gaap_MortgageLoansOnRealEstate_E115604B7B893D8142180802A5344984" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Unpaid principal balance </link:label>

<link:label id="lab_us-gaap_MortgageLoansOnRealEstate_E115604B7B893D8142180802A5344984_label_en-US" xlink:label="lab_us-gaap_MortgageLoansOnRealEstate_E115604B7B893D8142180802A5344984" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Mortgage Loans on Real Estate </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_MortgageLoansOnRealEstate" xlink:label="loc_us-gaap_MortgageLoansOnRealEstate_E115604B7B893D8142180802A5344984" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_MortgageLoansOnRealEstate_E115604B7B893D8142180802A5344984" xlink:to="lab_us-gaap_MortgageLoansOnRealEstate_E115604B7B893D8142180802A5344984" xlink:type="arc"/>

<link:label id="lab_cit_PercentRequiredOfClaimAmountForLoanService_36F3B9C3255123011B240802A5343BC5_terseLabel_en-US" xlink:label="lab_cit_PercentRequiredOfClaimAmountForLoanService_36F3B9C3255123011B240802A5343BC5" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Percent required of claim amount for loan service </link:label>

<link:label id="lab_cit_PercentRequiredOfClaimAmountForLoanService_36F3B9C3255123011B240802A5343BC5_label_en-US" xlink:label="lab_cit_PercentRequiredOfClaimAmountForLoanService_36F3B9C3255123011B240802A5343BC5" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Percent Required Of Claim Amount For Loan Service </link:label>

<link:label id="lab_cit_PercentRequiredOfClaimAmountForLoanService_36F3B9C3255123011B240802A5343BC5_documentation_en-US" xlink:label="lab_cit_PercentRequiredOfClaimAmountForLoanService_36F3B9C3255123011B240802A5343BC5" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Percent Required Of Claim Amount For Loan Service </link:label>

<link:loc xlink:href="cit-20180331.xsd#cit_PercentRequiredOfClaimAmountForLoanService" xlink:label="loc_cit_PercentRequiredOfClaimAmountForLoanService_36F3B9C3255123011B240802A5343BC5" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cit_PercentRequiredOfClaimAmountForLoanService_36F3B9C3255123011B240802A5343BC5" xlink:to="lab_cit_PercentRequiredOfClaimAmountForLoanService_36F3B9C3255123011B240802A5343BC5" xlink:type="arc"/>

<link:label id="lab_cit_RepurchaseOfReverseMortgageLoans_33E91DCB5DB002C5C77F0802A534B984_terseLabel_en-US" xlink:label="lab_cit_RepurchaseOfReverseMortgageLoans_33E91DCB5DB002C5C77F0802A534B984" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Repurchase of HECM loans </link:label>

<link:label id="lab_cit_RepurchaseOfReverseMortgageLoans_33E91DCB5DB002C5C77F0802A534B984_label_en-US" xlink:label="lab_cit_RepurchaseOfReverseMortgageLoans_33E91DCB5DB002C5C77F0802A534B984" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Repurchase Of Reverse Mortgage Loans </link:label>

<link:label id="lab_cit_RepurchaseOfReverseMortgageLoans_33E91DCB5DB002C5C77F0802A534B984_documentation_en-US" xlink:label="lab_cit_RepurchaseOfReverseMortgageLoans_33E91DCB5DB002C5C77F0802A534B984" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Repurchase Of Reverse Mortgage Loans </link:label>

<link:loc xlink:href="cit-20180331.xsd#cit_RepurchaseOfReverseMortgageLoans" xlink:label="loc_cit_RepurchaseOfReverseMortgageLoans_33E91DCB5DB002C5C77F0802A534B984" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cit_RepurchaseOfReverseMortgageLoans_33E91DCB5DB002C5C77F0802A534B984" xlink:to="lab_cit_RepurchaseOfReverseMortgageLoans_33E91DCB5DB002C5C77F0802A534B984" xlink:type="arc"/>

<link:label id="lab_cit_BalanceOfRepurchasedReverseMortgageLoans_00FD1CA7CF95D26F7B870802A5343ABE_terseLabel_en-US" xlink:label="lab_cit_BalanceOfRepurchasedReverseMortgageLoans_00FD1CA7CF95D26F7B870802A5343ABE" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> HECM loans, balance amount </link:label>

<link:label id="lab_cit_BalanceOfRepurchasedReverseMortgageLoans_00FD1CA7CF95D26F7B870802A5343ABE_label_en-US" xlink:label="lab_cit_BalanceOfRepurchasedReverseMortgageLoans_00FD1CA7CF95D26F7B870802A5343ABE" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Balance Of Repurchased Reverse Mortgage Loans </link:label>

<link:label id="lab_cit_BalanceOfRepurchasedReverseMortgageLoans_00FD1CA7CF95D26F7B870802A5343ABE_documentation_en-US" xlink:label="lab_cit_BalanceOfRepurchasedReverseMortgageLoans_00FD1CA7CF95D26F7B870802A5343ABE" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Balance Of Repurchased Reverse Mortgage Loans </link:label>

<link:loc xlink:href="cit-20180331.xsd#cit_BalanceOfRepurchasedReverseMortgageLoans" xlink:label="loc_cit_BalanceOfRepurchasedReverseMortgageLoans_00FD1CA7CF95D26F7B870802A5343ABE" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cit_BalanceOfRepurchasedReverseMortgageLoans_00FD1CA7CF95D26F7B870802A5343ABE" xlink:to="lab_cit_BalanceOfRepurchasedReverseMortgageLoans_00FD1CA7CF95D26F7B870802A5343ABE" xlink:type="arc"/>

<link:label id="lab_us-gaap_StatementOfStockholdersEquityAbstract_CE4F4148E2C447F74CCD23D83C0ED429_label_en-US" xlink:label="lab_us-gaap_StatementOfStockholdersEquityAbstract_CE4F4148E2C447F74CCD23D83C0ED429" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Statement of Stockholders' Equity [Abstract] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_StatementOfStockholdersEquityAbstract" xlink:label="loc_us-gaap_StatementOfStockholdersEquityAbstract_CE4F4148E2C447F74CCD23D83C0ED429" xlink:type="locator"/>

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<link:label id="lab_us-gaap_StatementTable_36BC7DFAD9E2F4F0282423D83C0E8571_terseLabel_en-US" xlink:label="lab_us-gaap_StatementTable_36BC7DFAD9E2F4F0282423D83C0E8571" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Statement [Table] </link:label>

<link:label id="lab_us-gaap_StatementTable_36BC7DFAD9E2F4F0282423D83C0E8571_label_en-US" xlink:label="lab_us-gaap_StatementTable_36BC7DFAD9E2F4F0282423D83C0E8571" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Statement [Table] </link:label>

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<link:label id="lab_us-gaap_PreferredStockMember_0DF768DD42D4CB53B87723D83C0E2627_terseLabel_en-US" xlink:label="lab_us-gaap_PreferredStockMember_0DF768DD42D4CB53B87723D83C0E2627" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Preferred Stock </link:label>

<link:label id="lab_us-gaap_PreferredStockMember_0DF768DD42D4CB53B87723D83C0E2627_label_en-US" xlink:label="lab_us-gaap_PreferredStockMember_0DF768DD42D4CB53B87723D83C0E2627" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Preferred Stock [Member] </link:label>

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<link:label id="lab_us-gaap_CommonStockMember_4C799A47AB416924200723D83C0F067D_terseLabel_en-US" xlink:label="lab_us-gaap_CommonStockMember_4C799A47AB416924200723D83C0F067D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Common Stock </link:label>

<link:label id="lab_us-gaap_CommonStockMember_4C799A47AB416924200723D83C0F067D_label_en-US" xlink:label="lab_us-gaap_CommonStockMember_4C799A47AB416924200723D83C0F067D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Common Stock [Member] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_CommonStockMember" xlink:label="loc_us-gaap_CommonStockMember_4C799A47AB416924200723D83C0F067D" xlink:type="locator"/>

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<link:label id="lab_us-gaap_AdditionalPaidInCapitalMember_2E00400F844EBFECF35123D83C0F40AF_terseLabel_en-US" xlink:label="lab_us-gaap_AdditionalPaidInCapitalMember_2E00400F844EBFECF35123D83C0F40AF" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Paid-in Capital </link:label>

<link:label id="lab_us-gaap_AdditionalPaidInCapitalMember_2E00400F844EBFECF35123D83C0F40AF_label_en-US" xlink:label="lab_us-gaap_AdditionalPaidInCapitalMember_2E00400F844EBFECF35123D83C0F40AF" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Additional Paid-in Capital [Member] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_AdditionalPaidInCapitalMember" xlink:label="loc_us-gaap_AdditionalPaidInCapitalMember_2E00400F844EBFECF35123D83C0F40AF" xlink:type="locator"/>

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<link:label id="lab_us-gaap_RetainedEarningsMember_9CED6C72D70D44286DD223D83C0FC7F9_terseLabel_en-US" xlink:label="lab_us-gaap_RetainedEarningsMember_9CED6C72D70D44286DD223D83C0FC7F9" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Retained Earnings </link:label>

<link:label id="lab_us-gaap_RetainedEarningsMember_9CED6C72D70D44286DD223D83C0FC7F9_label_en-US" xlink:label="lab_us-gaap_RetainedEarningsMember_9CED6C72D70D44286DD223D83C0FC7F9" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Retained Earnings [Member] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_RetainedEarningsMember" xlink:label="loc_us-gaap_RetainedEarningsMember_9CED6C72D70D44286DD223D83C0FC7F9" xlink:type="locator"/>

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<link:label id="lab_us-gaap_AccumulatedOtherComprehensiveIncomeMember_D926E9061438A1830E8C23D83C0FEA37_terseLabel_en-US" xlink:label="lab_us-gaap_AccumulatedOtherComprehensiveIncomeMember_D926E9061438A1830E8C23D83C0FEA37" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Accumulated Other Comprehensive Loss </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_AccumulatedOtherComprehensiveIncomeMember" xlink:label="loc_us-gaap_AccumulatedOtherComprehensiveIncomeMember_D926E9061438A1830E8C23D83C0FEA37" xlink:type="locator"/>

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<link:label id="lab_us-gaap_TreasuryStockMember_667D7E39640593D179CB23D83C0FCF2D_terseLabel_en-US" xlink:label="lab_us-gaap_TreasuryStockMember_667D7E39640593D179CB23D83C0FCF2D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Treasury Stock </link:label>

<link:label id="lab_us-gaap_TreasuryStockMember_667D7E39640593D179CB23D83C0FCF2D_label_en-US" xlink:label="lab_us-gaap_TreasuryStockMember_667D7E39640593D179CB23D83C0FCF2D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Treasury Stock [Member] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_TreasuryStockMember" xlink:label="loc_us-gaap_TreasuryStockMember_667D7E39640593D179CB23D83C0FCF2D" xlink:type="locator"/>

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<link:label id="lab_us-gaap_NoncontrollingInterestMember_D518143A0AA8CF775D4623D83C0F35B2_terseLabel_en-US" xlink:label="lab_us-gaap_NoncontrollingInterestMember_D518143A0AA8CF775D4623D83C0F35B2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Noncontrolling Minority Interests </link:label>

<link:label id="lab_us-gaap_NoncontrollingInterestMember_D518143A0AA8CF775D4623D83C0F35B2_label_en-US" xlink:label="lab_us-gaap_NoncontrollingInterestMember_D518143A0AA8CF775D4623D83C0F35B2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Noncontrolling Interest [Member] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_NoncontrollingInterestMember" xlink:label="loc_us-gaap_NoncontrollingInterestMember_D518143A0AA8CF775D4623D83C0F35B2" xlink:type="locator"/>

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<link:label id="lab_us-gaap_StatementLineItems_DDF0275D9FF8FA0621CB23D83C0FFE1D_terseLabel_en-US" xlink:label="lab_us-gaap_StatementLineItems_DDF0275D9FF8FA0621CB23D83C0FFE1D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Statement [Line Items] </link:label>

<link:label id="lab_us-gaap_StatementLineItems_DDF0275D9FF8FA0621CB23D83C0FFE1D_label_en-US" xlink:label="lab_us-gaap_StatementLineItems_DDF0275D9FF8FA0621CB23D83C0FFE1D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Statement [Line Items] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_StatementLineItems" xlink:label="loc_us-gaap_StatementLineItems_DDF0275D9FF8FA0621CB23D83C0FFE1D" xlink:type="locator"/>

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<link:label id="lab_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward_0813D52AE57E2D50214C23D83C0F28C6_terseLabel_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward_0813D52AE57E2D50214C23D83C0F28C6" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Increase (Decrease) in Stockholders' Equity [Roll Forward] </link:label>

<link:label id="lab_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward_0813D52AE57E2D50214C23D83C0F28C6_label_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward_0813D52AE57E2D50214C23D83C0F28C6" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Increase (Decrease) in Stockholders' Equity [Roll Forward] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_IncreaseDecreaseInStockholdersEquityRollForward" xlink:label="loc_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward_0813D52AE57E2D50214C23D83C0F28C6" xlink:type="locator"/>

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<link:label id="lab_us-gaap_NetIncomeLoss_CCF3EABC43F6132EA2D023D83C0F032F_terseLabel_en-US" xlink:label="lab_us-gaap_NetIncomeLoss_CCF3EABC43F6132EA2D023D83C0F032F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Net Income </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_NetIncomeLoss" xlink:label="loc_us-gaap_NetIncomeLoss_CCF3EABC43F6132EA2D023D83C0F032F" xlink:type="locator"/>

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<link:label id="lab_us-gaap_OtherComprehensiveIncomeLossNetOfTax_FCA146773BD8E53A03B523D83C0FFD90_verboseLabel_en-US" xlink:label="lab_us-gaap_OtherComprehensiveIncomeLossNetOfTax_FCA146773BD8E53A03B523D83C0FFD90" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Other comprehensive loss, net of tax </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_OtherComprehensiveIncomeLossNetOfTax" xlink:label="loc_us-gaap_OtherComprehensiveIncomeLossNetOfTax_FCA146773BD8E53A03B523D83C0FFD90" xlink:type="locator"/>

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<link:label id="lab_us-gaap_Dividends_67151923E46975EF1A0F23D83C0F5662_negatedLabel_en-US" xlink:label="lab_us-gaap_Dividends_67151923E46975EF1A0F23D83C0F5662" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US"> Dividends paid </link:label>

<link:label id="lab_us-gaap_Dividends_67151923E46975EF1A0F23D83C0F5662_label_en-US" xlink:label="lab_us-gaap_Dividends_67151923E46975EF1A0F23D83C0F5662" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Dividends </link:label>

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<link:label id="lab_us-gaap_TreasuryStockValueAcquiredParValueMethod_DBB0502B73A62EA255F223D83C0FD50B_negatedLabel_en-US" xlink:label="lab_us-gaap_TreasuryStockValueAcquiredParValueMethod_DBB0502B73A62EA255F223D83C0FD50B" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US"> Share repurchases </link:label>

<link:label id="lab_us-gaap_TreasuryStockValueAcquiredParValueMethod_DBB0502B73A62EA255F223D83C0FD50B_label_en-US" xlink:label="lab_us-gaap_TreasuryStockValueAcquiredParValueMethod_DBB0502B73A62EA255F223D83C0FD50B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Treasury Stock, Value, Acquired, Par Value Method </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_TreasuryStockValueAcquiredParValueMethod" xlink:label="loc_us-gaap_TreasuryStockValueAcquiredParValueMethod_DBB0502B73A62EA255F223D83C0FD50B" xlink:type="locator"/>

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<link:label id="lab_us-gaap_StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures_B3F0A7EB9033E13DB86323D83C0FC878_terseLabel_en-US" xlink:label="lab_us-gaap_StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures_B3F0A7EB9033E13DB86323D83C0FC878" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Amortization of restricted stock, stock option and performance shares expenses </link:label>

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<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures" xlink:label="loc_us-gaap_StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures_B3F0A7EB9033E13DB86323D83C0FC878" xlink:type="locator"/>

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<link:label id="lab_us-gaap_StockIssuedDuringPeriodValueEmployeeStockPurchasePlan_5534389DA1E4E754FFF223D83C105595_label_en-US" xlink:label="lab_us-gaap_StockIssuedDuringPeriodValueEmployeeStockPurchasePlan_5534389DA1E4E754FFF223D83C105595" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Stock Issued During Period, Value, Employee Stock Purchase Plan </link:label>

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<link:label id="lab_us-gaap_IncomeTaxAuthorityAxis_29F9863F5CF047FC49D416EC257D136A_label_en-US" xlink:label="lab_us-gaap_IncomeTaxAuthorityAxis_29F9863F5CF047FC49D416EC257D136A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Income Tax Authority [Axis] </link:label>

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<link:label id="lab_us-gaap_StateAndLocalJurisdictionMember_D02971A0CE7F192FDCBF16EC257D5349_label_en-US" xlink:label="lab_us-gaap_StateAndLocalJurisdictionMember_D02971A0CE7F192FDCBF16EC257D5349" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> State and Local Jurisdiction [Member] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_StateAndLocalJurisdictionMember" xlink:label="loc_us-gaap_StateAndLocalJurisdictionMember_D02971A0CE7F192FDCBF16EC257D5349" xlink:type="locator"/>

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<link:label id="lab_us-gaap_TaxCreditCarryforwardValuationAllowance_35EAA326D379AB4906C616EC257E3ADA_terseLabel_en-US" xlink:label="lab_us-gaap_TaxCreditCarryforwardValuationAllowance_35EAA326D379AB4906C616EC257E3ADA" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Capital loss carryforwards, valuation allowance </link:label>

<link:label id="lab_us-gaap_TaxCreditCarryforwardValuationAllowance_35EAA326D379AB4906C616EC257E3ADA_label_en-US" xlink:label="lab_us-gaap_TaxCreditCarryforwardValuationAllowance_35EAA326D379AB4906C616EC257E3ADA" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Tax Credit Carryforward, Valuation Allowance </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_TaxCreditCarryforwardValuationAllowance" xlink:label="loc_us-gaap_TaxCreditCarryforwardValuationAllowance_35EAA326D379AB4906C616EC257E3ADA" xlink:type="locator"/>

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<link:label id="lab_us-gaap_LiabilityForUncertainTaxPositionsCurrent_ABF581DD3B7C5F6952D716EC257E396F_verboseLabel_en-US" xlink:label="lab_us-gaap_LiabilityForUncertainTaxPositionsCurrent_ABF581DD3B7C5F6952D716EC257E396F" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Liability for uncertain tax positions </link:label>

<link:label id="lab_us-gaap_LiabilityForUncertainTaxPositionsCurrent_ABF581DD3B7C5F6952D716EC257E396F_label_en-US" xlink:label="lab_us-gaap_LiabilityForUncertainTaxPositionsCurrent_ABF581DD3B7C5F6952D716EC257E396F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Liability for Uncertainty in Income Taxes, Current </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_LiabilityForUncertainTaxPositionsCurrent" xlink:label="loc_us-gaap_LiabilityForUncertainTaxPositionsCurrent_ABF581DD3B7C5F6952D716EC257E396F" xlink:type="locator"/>

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<link:label id="lab_us-gaap_DecreaseInUnrecognizedTaxBenefitsIsReasonablyPossible_2B59D2B8D73DDD3F2E3616EC257E16ED_terseLabel_en-US" xlink:label="lab_us-gaap_DecreaseInUnrecognizedTaxBenefitsIsReasonablyPossible_2B59D2B8D73DDD3F2E3616EC257E16ED" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Potential decrease to tax benefits </link:label>

<link:label id="lab_us-gaap_DecreaseInUnrecognizedTaxBenefitsIsReasonablyPossible_2B59D2B8D73DDD3F2E3616EC257E16ED_label_en-US" xlink:label="lab_us-gaap_DecreaseInUnrecognizedTaxBenefitsIsReasonablyPossible_2B59D2B8D73DDD3F2E3616EC257E16ED" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Decrease in Unrecognized Tax Benefits is Reasonably Possible </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_DecreaseInUnrecognizedTaxBenefitsIsReasonablyPossible" xlink:label="loc_us-gaap_DecreaseInUnrecognizedTaxBenefitsIsReasonablyPossible_2B59D2B8D73DDD3F2E3616EC257E16ED" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DecreaseInUnrecognizedTaxBenefitsIsReasonablyPossible_2B59D2B8D73DDD3F2E3616EC257E16ED" xlink:to="lab_us-gaap_DecreaseInUnrecognizedTaxBenefitsIsReasonablyPossible_2B59D2B8D73DDD3F2E3616EC257E16ED" xlink:type="arc"/>

<link:label id="lab_us-gaap_IncomeTaxExaminationPenaltiesAndInterestAccrued_03F859BB4E959700737216EC257E6401_terseLabel_en-US" xlink:label="lab_us-gaap_IncomeTaxExaminationPenaltiesAndInterestAccrued_03F859BB4E959700737216EC257E6401" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Accrual for interest and penalties </link:label>

<link:label id="lab_us-gaap_IncomeTaxExaminationPenaltiesAndInterestAccrued_03F859BB4E959700737216EC257E6401_label_en-US" xlink:label="lab_us-gaap_IncomeTaxExaminationPenaltiesAndInterestAccrued_03F859BB4E959700737216EC257E6401" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Income Tax Examination, Penalties and Interest Accrued </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_IncomeTaxExaminationPenaltiesAndInterestAccrued" xlink:label="loc_us-gaap_IncomeTaxExaminationPenaltiesAndInterestAccrued_03F859BB4E959700737216EC257E6401" xlink:type="locator"/>

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<link:label id="lab_us-gaap_LoansAndLeasesReceivableDisclosureTable_4ECC6A76A2CF72E754B60802A549ABF6_terseLabel_en-US" xlink:label="lab_us-gaap_LoansAndLeasesReceivableDisclosureTable_4ECC6A76A2CF72E754B60802A549ABF6" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Loans and Leases Receivable Disclosure [Table] </link:label>

<link:label id="lab_us-gaap_LoansAndLeasesReceivableDisclosureTable_4ECC6A76A2CF72E754B60802A549ABF6_label_en-US" xlink:label="lab_us-gaap_LoansAndLeasesReceivableDisclosureTable_4ECC6A76A2CF72E754B60802A549ABF6" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Loans and Leases Receivable Disclosure [Table] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_LoansAndLeasesReceivableDisclosureTable" xlink:label="loc_us-gaap_LoansAndLeasesReceivableDisclosureTable_4ECC6A76A2CF72E754B60802A549ABF6" xlink:type="locator"/>

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<link:label id="lab_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis_16AE19328B4C34D5D7480802A54AF75E_terseLabel_en-US" xlink:label="lab_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis_16AE19328B4C34D5D7480802A54AF75E" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Receivable Type [Axis] </link:label>

<link:label id="lab_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis_16AE19328B4C34D5D7480802A54AF75E_label_en-US" xlink:label="lab_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis_16AE19328B4C34D5D7480802A54AF75E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Receivable Type [Axis] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis" xlink:label="loc_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis_16AE19328B4C34D5D7480802A54AF75E" xlink:type="locator"/>

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<link:label id="lab_us-gaap_ReceivableTypeDomain_24AE4E067BA42D6F75790802A54ABDC0_terseLabel_en-US" xlink:label="lab_us-gaap_ReceivableTypeDomain_24AE4E067BA42D6F75790802A54ABDC0" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Receivable [Domain] </link:label>

<link:label id="lab_us-gaap_ReceivableTypeDomain_24AE4E067BA42D6F75790802A54ABDC0_label_en-US" xlink:label="lab_us-gaap_ReceivableTypeDomain_24AE4E067BA42D6F75790802A54ABDC0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Receivable [Domain] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ReceivableTypeDomain" xlink:label="loc_us-gaap_ReceivableTypeDomain_24AE4E067BA42D6F75790802A54ABDC0" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ReceivableTypeDomain_24AE4E067BA42D6F75790802A54ABDC0" xlink:to="lab_us-gaap_ReceivableTypeDomain_24AE4E067BA42D6F75790802A54ABDC0" xlink:type="arc"/>

<link:label id="lab_us-gaap_LoansReceivableMember_6725A079BEE617E063130802A54B5A15_terseLabel_en-US" xlink:label="lab_us-gaap_LoansReceivableMember_6725A079BEE617E063130802A54B5A15" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Commercial loans </link:label>

<link:label id="lab_us-gaap_LoansReceivableMember_6725A079BEE617E063130802A54B5A15_label_en-US" xlink:label="lab_us-gaap_LoansReceivableMember_6725A079BEE617E063130802A54B5A15" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Loans Receivable [Member] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_LoansReceivableMember" xlink:label="loc_us-gaap_LoansReceivableMember_6725A079BEE617E063130802A54B5A15" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LoansReceivableMember_6725A079BEE617E063130802A54B5A15" xlink:to="lab_us-gaap_LoansReceivableMember_6725A079BEE617E063130802A54B5A15" xlink:type="arc"/>

<link:label id="lab_us-gaap_FinanceReceivablesMember_D7C5B8D3BBB8953C88630802A54BE7C0_terseLabel_en-US" xlink:label="lab_us-gaap_FinanceReceivablesMember_D7C5B8D3BBB8953C88630802A54BE7C0" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Direct financing leases and leveraged leases </link:label>

<link:label id="lab_us-gaap_FinanceReceivablesMember_D7C5B8D3BBB8953C88630802A54BE7C0_label_en-US" xlink:label="lab_us-gaap_FinanceReceivablesMember_D7C5B8D3BBB8953C88630802A54BE7C0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Financing Receivable [Member] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_FinanceReceivablesMember" xlink:label="loc_us-gaap_FinanceReceivablesMember_D7C5B8D3BBB8953C88630802A54BE7C0" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinanceReceivablesMember_D7C5B8D3BBB8953C88630802A54BE7C0" xlink:to="lab_us-gaap_FinanceReceivablesMember_D7C5B8D3BBB8953C88630802A54BE7C0" xlink:type="arc"/>

<link:label id="lab_us-gaap_LoansAndLeasesReceivableDisclosureLineItems_A8330DA92BD2A05E91F90802A54BB632_terseLabel_en-US" xlink:label="lab_us-gaap_LoansAndLeasesReceivableDisclosureLineItems_A8330DA92BD2A05E91F90802A54BB632" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Loans and Leases Receivable Disclosure [Line Items] </link:label>

<link:label id="lab_us-gaap_LoansAndLeasesReceivableDisclosureLineItems_A8330DA92BD2A05E91F90802A54BB632_label_en-US" xlink:label="lab_us-gaap_LoansAndLeasesReceivableDisclosureLineItems_A8330DA92BD2A05E91F90802A54BB632" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Loans and Leases Receivable Disclosure [Line Items] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_LoansAndLeasesReceivableDisclosureLineItems" xlink:label="loc_us-gaap_LoansAndLeasesReceivableDisclosureLineItems_A8330DA92BD2A05E91F90802A54BB632" xlink:type="locator"/>

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<link:label id="lab_us-gaap_LoansAndLeasesReceivableNetOfDeferredIncome_D23993E23B5ED04EABBE0802A54B6EC6_verboseLabel_en-US" xlink:label="lab_us-gaap_LoansAndLeasesReceivableNetOfDeferredIncome_D23993E23B5ED04EABBE0802A54B6EC6" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Total loans </link:label>

<link:label id="lab_us-gaap_LoansAndLeasesReceivableNetOfDeferredIncome_D23993E23B5ED04EABBE0802A54B6EC6_label_en-US" xlink:label="lab_us-gaap_LoansAndLeasesReceivableNetOfDeferredIncome_D23993E23B5ED04EABBE0802A54B6EC6" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Loans and Leases Receivable, Net of Deferred Income </link:label>

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<link:label id="lab_cit_LoansReceivableHeldForSaleGrossNotPartOfDisposalGroup_AE7F2FE9D7A4AA5689A80802A54B6BD8_terseLabel_en-US" xlink:label="lab_cit_LoansReceivableHeldForSaleGrossNotPartOfDisposalGroup_AE7F2FE9D7A4AA5689A80802A54B6BD8" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Loans held for sale </link:label>

<link:label id="lab_cit_LoansReceivableHeldForSaleGrossNotPartOfDisposalGroup_AE7F2FE9D7A4AA5689A80802A54B6BD8_label_en-US" xlink:label="lab_cit_LoansReceivableHeldForSaleGrossNotPartOfDisposalGroup_AE7F2FE9D7A4AA5689A80802A54B6BD8" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Loans Receivable Held-For-Sale, Gross, Not Part Of Disposal Group </link:label>

<link:label id="lab_cit_LoansReceivableHeldForSaleGrossNotPartOfDisposalGroup_AE7F2FE9D7A4AA5689A80802A54B6BD8_documentation_en-US" xlink:label="lab_cit_LoansReceivableHeldForSaleGrossNotPartOfDisposalGroup_AE7F2FE9D7A4AA5689A80802A54B6BD8" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Loans Receivable Held-For-Sale, Gross, Not Part Of Disposal Group </link:label>

<link:loc xlink:href="cit-20180331.xsd#cit_LoansReceivableHeldForSaleGrossNotPartOfDisposalGroup" xlink:label="loc_cit_LoansReceivableHeldForSaleGrossNotPartOfDisposalGroup_AE7F2FE9D7A4AA5689A80802A54B6BD8" xlink:type="locator"/>

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<link:label id="lab_cit_LoansReceivableIncludingHeldForSaleGross_37D0476E8B8E3F0A41A70802A54BA7D8_totalLabel_en-US" xlink:label="lab_cit_LoansReceivableIncludingHeldForSaleGross_37D0476E8B8E3F0A41A70802A54BA7D8" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US"> Loans and held for sale loans </link:label>

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<link:label id="lab_us-gaap_SegmentReportingAbstract_FE9BB869D5C4CD09ED8F071F6E465F9B_label_en-US" xlink:label="lab_us-gaap_SegmentReportingAbstract_8F235F8C4BA75D779A6ADC28932D43F5" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Segment Reporting [Abstract] </link:label>

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<link:label id="lab_cit_ScheduleOfFinanceReceivablesTableTextBlock_9DA8A07FC96ECEDDC8B221FAC2558274_verboseLabel_en-US" xlink:label="lab_cit_ScheduleOfFinanceReceivablesTableTextBlock_9DA8A07FC96ECEDDC8B221FAC2558274" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Schedule Of Loans By Product </link:label>

<link:label id="lab_cit_ScheduleOfFinanceReceivablesTableTextBlock_9DA8A07FC96ECEDDC8B221FAC2558274_label_en-US" xlink:label="lab_cit_ScheduleOfFinanceReceivablesTableTextBlock_9DA8A07FC96ECEDDC8B221FAC2558274" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Schedule Of Finance Receivables [Table Text Block] </link:label>

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<link:label id="lab_cit_ScheduleofsegmentloansandleasesheldforinvestmentbasedonobligorlocationTableTextBlock_21B7B59FBE32E544F13221FAC255E880_terseLabel_en-US" xlink:label="lab_cit_ScheduleofsegmentloansandleasesheldforinvestmentbasedonobligorlocationTableTextBlock_21B7B59FBE32E544F13221FAC255E880" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Schedule Of Loans By Segment, Based On Obligor Location </link:label>

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<link:label id="lab_cit_ComponentsOfNetInvestmentInFinanceReceivablesTableTextBlock_28F41F84EED089BEED6421FAC2552B82_terseLabel_en-US" xlink:label="lab_cit_ComponentsOfNetInvestmentInFinanceReceivablesTableTextBlock_28F41F84EED089BEED6421FAC2552B82" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Components Of Net Investment In Loans </link:label>

<link:label id="lab_cit_ComponentsOfNetInvestmentInFinanceReceivablesTableTextBlock_28F41F84EED089BEED6421FAC2552B82_label_en-US" xlink:label="lab_cit_ComponentsOfNetInvestmentInFinanceReceivablesTableTextBlock_28F41F84EED089BEED6421FAC2552B82" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Components Of Net Investment In Finance Receivables [Table Text Block] </link:label>

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<link:label id="lab_us-gaap_FinancingReceivableCreditQualityIndicatorsTableTextBlock_BAB18638D3828BA905FC21FAC25550AC_terseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableCreditQualityIndicatorsTableTextBlock_BAB18638D3828BA905FC21FAC25550AC" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Loans And Held-For-Sale Loans - By Risk Rating </link:label>

<link:label id="lab_us-gaap_FinancingReceivableCreditQualityIndicatorsTableTextBlock_BAB18638D3828BA905FC21FAC25550AC_label_en-US" xlink:label="lab_us-gaap_FinancingReceivableCreditQualityIndicatorsTableTextBlock_BAB18638D3828BA905FC21FAC25550AC" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Financing Receivable Credit Quality Indicators [Table Text Block] </link:label>

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<link:label id="lab_cit_ScheduleOfConsumerLoanLtvDistributionsTableTextBlock_6008733F4B99F3390B5D21FAC255C739_terseLabel_en-US" xlink:label="lab_cit_ScheduleOfConsumerLoanLtvDistributionsTableTextBlock_6008733F4B99F3390B5D21FAC255C739" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Schedule Of Consumer Loan LTV Distributions </link:label>

<link:label id="lab_cit_ScheduleOfConsumerLoanLtvDistributionsTableTextBlock_6008733F4B99F3390B5D21FAC255C739_label_en-US" xlink:label="lab_cit_ScheduleOfConsumerLoanLtvDistributionsTableTextBlock_6008733F4B99F3390B5D21FAC255C739" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Schedule Of Consumer Loan LTV Distributions [Table Text Block] </link:label>

<link:label id="lab_cit_ScheduleOfConsumerLoanLtvDistributionsTableTextBlock_6008733F4B99F3390B5D21FAC255C739_documentation_en-US" xlink:label="lab_cit_ScheduleOfConsumerLoanLtvDistributionsTableTextBlock_6008733F4B99F3390B5D21FAC255C739" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Schedule Of Consumer Loan LTV Distributions [Table Text Block] </link:label>

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<link:label id="lab_us-gaap_PastDueFinancingReceivablesTableTextBlock_37E16DF898DF81F58E0721FAC2554487_terseLabel_en-US" xlink:label="lab_us-gaap_PastDueFinancingReceivablesTableTextBlock_37E16DF898DF81F58E0721FAC2554487" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Loans And Held For Sale Loans - Delinquency Status </link:label>

<link:label id="lab_us-gaap_PastDueFinancingReceivablesTableTextBlock_37E16DF898DF81F58E0721FAC2554487_label_en-US" xlink:label="lab_us-gaap_PastDueFinancingReceivablesTableTextBlock_37E16DF898DF81F58E0721FAC2554487" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Past Due Financing Receivables [Table Text Block] </link:label>

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<link:label id="lab_us-gaap_ScheduleOfFinancingReceivablesNonAccrualStatusTableTextBlock_B51254D9B960D0CA9F2121FAC255792D_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfFinancingReceivablesNonAccrualStatusTableTextBlock_B51254D9B960D0CA9F2121FAC255792D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Loans On Non-accrual Status </link:label>

<link:label id="lab_us-gaap_ScheduleOfFinancingReceivablesNonAccrualStatusTableTextBlock_B51254D9B960D0CA9F2121FAC255792D_label_en-US" xlink:label="lab_us-gaap_ScheduleOfFinancingReceivablesNonAccrualStatusTableTextBlock_B51254D9B960D0CA9F2121FAC255792D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Schedule of Financing Receivables, Non Accrual Status [Table Text Block] </link:label>

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<link:label id="lab_cit_ScheduleOfLoansInProcessOfForeclosureTableTextBlock_40FA510837F91846237A21FAC2568735_terseLabel_en-US" xlink:label="lab_cit_ScheduleOfLoansInProcessOfForeclosureTableTextBlock_40FA510837F91846237A21FAC2568735" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Schedule Of Loans In Process Of Foreclosure </link:label>

<link:label id="lab_cit_ScheduleOfLoansInProcessOfForeclosureTableTextBlock_40FA510837F91846237A21FAC2568735_label_en-US" xlink:label="lab_cit_ScheduleOfLoansInProcessOfForeclosureTableTextBlock_40FA510837F91846237A21FAC2568735" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Schedule Of Loans In Process Of Foreclosure [Table Text Block] </link:label>

<link:label id="lab_cit_ScheduleOfLoansInProcessOfForeclosureTableTextBlock_40FA510837F91846237A21FAC2568735_documentation_en-US" xlink:label="lab_cit_ScheduleOfLoansInProcessOfForeclosureTableTextBlock_40FA510837F91846237A21FAC2568735" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Schedule Of Loans In Process Of Foreclosure [Table Text Block] </link:label>

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<link:label id="lab_us-gaap_ImpairedFinancingReceivablesTableTextBlock_39DFDBA4CAD559E7759121FAC2564151_terseLabel_en-US" xlink:label="lab_us-gaap_ImpairedFinancingReceivablesTableTextBlock_39DFDBA4CAD559E7759121FAC2564151" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Impaired Loans </link:label>

<link:label id="lab_us-gaap_ImpairedFinancingReceivablesTableTextBlock_39DFDBA4CAD559E7759121FAC2564151_label_en-US" xlink:label="lab_us-gaap_ImpairedFinancingReceivablesTableTextBlock_39DFDBA4CAD559E7759121FAC2564151" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Impaired Financing Receivables [Table Text Block] </link:label>

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<link:label id="lab_cit_PurchasedCreditImpairedLoansWithDeterioratedCreditQualityTableTextBlock_0C4522B5000359CC4F1221FAC2574143_terseLabel_en-US" xlink:label="lab_cit_PurchasedCreditImpairedLoansWithDeterioratedCreditQualityTableTextBlock_0C4522B5000359CC4F1221FAC2574143" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Purchased Credit Impaired Loans With Deteriorated Credit Quality </link:label>

<link:label id="lab_cit_PurchasedCreditImpairedLoansWithDeterioratedCreditQualityTableTextBlock_0C4522B5000359CC4F1221FAC2574143_label_en-US" xlink:label="lab_cit_PurchasedCreditImpairedLoansWithDeterioratedCreditQualityTableTextBlock_0C4522B5000359CC4F1221FAC2574143" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Purchased Credit Impaired Loans With Deteriorated Credit Quality [Table Text Block] </link:label>

<link:label id="lab_cit_PurchasedCreditImpairedLoansWithDeterioratedCreditQualityTableTextBlock_0C4522B5000359CC4F1221FAC2574143_documentation_en-US" xlink:label="lab_cit_PurchasedCreditImpairedLoansWithDeterioratedCreditQualityTableTextBlock_0C4522B5000359CC4F1221FAC2574143" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Purchased Credit Impaired Loans With Deteriorated Credit Quality [Table Text Block] </link:label>

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<link:label id="lab_cit_SummaryOfCommercialPciLoansTableTextBlock_CC53D177843F68E834DF21FAC257AB16_terseLabel_en-US" xlink:label="lab_cit_SummaryOfCommercialPciLoansTableTextBlock_CC53D177843F68E834DF21FAC257AB16" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Summary Of Commercial PCI Loans </link:label>

<link:label id="lab_cit_SummaryOfCommercialPciLoansTableTextBlock_CC53D177843F68E834DF21FAC257AB16_label_en-US" xlink:label="lab_cit_SummaryOfCommercialPciLoansTableTextBlock_CC53D177843F68E834DF21FAC257AB16" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Summary Of Commercial PCI Loans [Table Text Block] </link:label>

<link:label id="lab_cit_SummaryOfCommercialPciLoansTableTextBlock_CC53D177843F68E834DF21FAC257AB16_documentation_en-US" xlink:label="lab_cit_SummaryOfCommercialPciLoansTableTextBlock_CC53D177843F68E834DF21FAC257AB16" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Summary Of Commercial PCI Loans [Table Text Block] </link:label>

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<link:label id="lab_us-gaap_ShortMember_F6C7D63EEBC5E060775C0287C870D11B_label_en-US" xlink:label="lab_us-gaap_ShortMember_F6C7D63EEBC5E060775C0287C870D11B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Short [Member] </link:label>

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<link:label id="lab_us-gaap_DerivativesFairValueLineItems_CFEFD84650E6B3BE12820287C8713B78_label_en-US" xlink:label="lab_us-gaap_DerivativesFairValueLineItems_CFEFD84650E6B3BE12820287C8713B78" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Derivatives, Fair Value [Line Items] </link:label>

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<link:label id="lab_us-gaap_DerivativeFairValueOfDerivativeAsset_7B30FE746A5DC4207BAA0287C8710B95_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativeFairValueOfDerivativeAsset_7B30FE746A5DC4207BAA0287C8710B95" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Asset Fair Value </link:label>

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<link:label id="lab_us-gaap_AllowanceForCreditLossesOnFinancingReceivablesTableTextBlock_9FB2EC736F7695D4DA41071F6FC41072_terseLabel_en-US" xlink:label="lab_us-gaap_AllowanceForCreditLossesOnFinancingReceivablesTableTextBlock_F006604F80D65AB4861C4E6CFB434F39" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Schedule of Allowance for Loan Losses and Recorded Investment in Finance Receivables </link:label>

<link:label id="lab_us-gaap_AllowanceForCreditLossesOnFinancingReceivablesTableTextBlock_9FB2EC736F7695D4DA41071F6FC41072_label_en-US" xlink:label="lab_us-gaap_AllowanceForCreditLossesOnFinancingReceivablesTableTextBlock_F006604F80D65AB4861C4E6CFB434F39" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Allowance for Credit Losses on Financing Receivables [Table Text Block] </link:label>

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<link:label id="lab_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsTable_3F59DCB2F2C91E0A470E16EC2822A759_terseLabel_en-US" xlink:label="lab_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsTable_3F59DCB2F2C91E0A470E16EC2822A759" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Disposal Groups, Including Discontinued Operations [Table] </link:label>

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<link:label id="lab_us-gaap_DisposalGroupIncludingDiscontinuedOperationInterestIncome_5210DABCCBF233ED076216EC2823F520_terseLabel_en-US" xlink:label="lab_us-gaap_DisposalGroupIncludingDiscontinuedOperationInterestIncome_5210DABCCBF233ED076216EC2823F520" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Interest income </link:label>

<link:label id="lab_us-gaap_DisposalGroupIncludingDiscontinuedOperationInterestIncome_5210DABCCBF233ED076216EC2823F520_label_en-US" xlink:label="lab_us-gaap_DisposalGroupIncludingDiscontinuedOperationInterestIncome_5210DABCCBF233ED076216EC2823F520" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Disposal Group, Including Discontinued Operation, Interest Income </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_DisposalGroupIncludingDiscontinuedOperationInterestIncome" xlink:label="loc_us-gaap_DisposalGroupIncludingDiscontinuedOperationInterestIncome_5210DABCCBF233ED076216EC2823F520" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DisposalGroupIncludingDiscontinuedOperationInterestIncome_5210DABCCBF233ED076216EC2823F520" xlink:to="lab_us-gaap_DisposalGroupIncludingDiscontinuedOperationInterestIncome_5210DABCCBF233ED076216EC2823F520" xlink:type="arc"/>

<link:label id="lab_us-gaap_DisposalGroupIncludingDiscontinuedOperationInterestExpense_053D3BFA53500A5E8F6C16EC282393CA_terseLabel_en-US" xlink:label="lab_us-gaap_DisposalGroupIncludingDiscontinuedOperationInterestExpense_053D3BFA53500A5E8F6C16EC282393CA" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Interest expense </link:label>

<link:label id="lab_us-gaap_DisposalGroupIncludingDiscontinuedOperationInterestExpense_053D3BFA53500A5E8F6C16EC282393CA_label_en-US" xlink:label="lab_us-gaap_DisposalGroupIncludingDiscontinuedOperationInterestExpense_053D3BFA53500A5E8F6C16EC282393CA" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Disposal Group, Including Discontinued Operation, Interest Expense </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_DisposalGroupIncludingDiscontinuedOperationInterestExpense" xlink:label="loc_us-gaap_DisposalGroupIncludingDiscontinuedOperationInterestExpense_053D3BFA53500A5E8F6C16EC282393CA" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DisposalGroupIncludingDiscontinuedOperationInterestExpense_053D3BFA53500A5E8F6C16EC282393CA" xlink:to="lab_us-gaap_DisposalGroupIncludingDiscontinuedOperationInterestExpense_053D3BFA53500A5E8F6C16EC282393CA" xlink:type="arc"/>

<link:label id="lab_cit_DisposalGroupIncludingDiscontinuedOperationOtherIncomeLoss_885BE3EC283A3BF57CBC16EC2823F957_verboseLabel_en-US" xlink:label="lab_cit_DisposalGroupIncludingDiscontinuedOperationOtherIncomeLoss_885BE3EC283A3BF57CBC16EC2823F957" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Other income (losses) </link:label>

<link:label id="lab_cit_DisposalGroupIncludingDiscontinuedOperationOtherIncomeLoss_885BE3EC283A3BF57CBC16EC2823F957_label_en-US" xlink:label="lab_cit_DisposalGroupIncludingDiscontinuedOperationOtherIncomeLoss_885BE3EC283A3BF57CBC16EC2823F957" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Disposal Group, Including Discontinued Operation, Other Income (Loss) </link:label>

<link:label id="lab_cit_DisposalGroupIncludingDiscontinuedOperationOtherIncomeLoss_885BE3EC283A3BF57CBC16EC2823F957_documentation_en-US" xlink:label="lab_cit_DisposalGroupIncludingDiscontinuedOperationOtherIncomeLoss_885BE3EC283A3BF57CBC16EC2823F957" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Amount of other income (loss) attributable to disposal group, including, but not limited to, discontinued operation. </link:label>

<link:loc xlink:href="cit-20180331.xsd#cit_DisposalGroupIncludingDiscontinuedOperationOtherIncomeLoss" xlink:label="loc_cit_DisposalGroupIncludingDiscontinuedOperationOtherIncomeLoss_885BE3EC283A3BF57CBC16EC2823F957" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cit_DisposalGroupIncludingDiscontinuedOperationOtherIncomeLoss_885BE3EC283A3BF57CBC16EC2823F957" xlink:to="lab_cit_DisposalGroupIncludingDiscontinuedOperationOtherIncomeLoss_885BE3EC283A3BF57CBC16EC2823F957" xlink:type="arc"/>

<link:label id="lab_us-gaap_DisposalGroupIncludingDiscontinuedOperationOperatingExpense_06540B638A79DDCDC9CC16EC282350D9_terseLabel_en-US" xlink:label="lab_us-gaap_DisposalGroupIncludingDiscontinuedOperationOperatingExpense_06540B638A79DDCDC9CC16EC282350D9" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Operating expenses </link:label>

<link:label id="lab_us-gaap_DisposalGroupIncludingDiscontinuedOperationOperatingExpense_06540B638A79DDCDC9CC16EC282350D9_label_en-US" xlink:label="lab_us-gaap_DisposalGroupIncludingDiscontinuedOperationOperatingExpense_06540B638A79DDCDC9CC16EC282350D9" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Disposal Group, Including Discontinued Operation, Operating Expense </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_DisposalGroupIncludingDiscontinuedOperationOperatingExpense" xlink:label="loc_us-gaap_DisposalGroupIncludingDiscontinuedOperationOperatingExpense_06540B638A79DDCDC9CC16EC282350D9" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DisposalGroupIncludingDiscontinuedOperationOperatingExpense_06540B638A79DDCDC9CC16EC282350D9" xlink:to="lab_us-gaap_DisposalGroupIncludingDiscontinuedOperationOperatingExpense_06540B638A79DDCDC9CC16EC282350D9" xlink:type="arc"/>

<link:label id="lab_us-gaap_DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodBeforeIncomeTax_9F7CA8C81DD8437E69D816EC2823CD87_totalLabel_en-US" xlink:label="lab_us-gaap_DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodBeforeIncomeTax_9F7CA8C81DD8437E69D816EC2823CD87" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US"> Income (loss) from discontinued operations before benefit (provision) for income taxes </link:label>

<link:label id="lab_us-gaap_DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodBeforeIncomeTax_9F7CA8C81DD8437E69D816EC2823CD87_label_en-US" xlink:label="lab_us-gaap_DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodBeforeIncomeTax_9F7CA8C81DD8437E69D816EC2823CD87" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Discontinued Operation, Income (Loss) from Discontinued Operation During Phase-out Period, before Income Tax </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodBeforeIncomeTax" xlink:label="loc_us-gaap_DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodBeforeIncomeTax_9F7CA8C81DD8437E69D816EC2823CD87" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodBeforeIncomeTax_9F7CA8C81DD8437E69D816EC2823CD87" xlink:to="lab_us-gaap_DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodBeforeIncomeTax_9F7CA8C81DD8437E69D816EC2823CD87" xlink:type="arc"/>

<link:label id="lab_us-gaap_DiscontinuedOperationTaxEffectOfIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriod_DFDC7FE7D7EA7835214916EC28238362_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_DiscontinuedOperationTaxEffectOfIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriod_DFDC7FE7D7EA7835214916EC28238362" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US"> Benefit (provision) for income taxes </link:label>

<link:label id="lab_us-gaap_DiscontinuedOperationTaxEffectOfIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriod_DFDC7FE7D7EA7835214916EC28238362_label_en-US" xlink:label="lab_us-gaap_DiscontinuedOperationTaxEffectOfIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriod_DFDC7FE7D7EA7835214916EC28238362" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Discontinued Operation, Tax Effect of Income (Loss) from Discontinued Operation During Phase-out Period </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_DiscontinuedOperationTaxEffectOfIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriod" xlink:label="loc_us-gaap_DiscontinuedOperationTaxEffectOfIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriod_DFDC7FE7D7EA7835214916EC28238362" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DiscontinuedOperationTaxEffectOfIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriod_DFDC7FE7D7EA7835214916EC28238362" xlink:to="lab_us-gaap_DiscontinuedOperationTaxEffectOfIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriod_DFDC7FE7D7EA7835214916EC28238362" xlink:type="arc"/>

<link:label id="lab_cit_DisposalGroupIncludingDiscontinuedOperationLaborandRelatedExpense_10F6850A2E06B98A1A4F16EC282309AE_terseLabel_en-US" xlink:label="lab_cit_DisposalGroupIncludingDiscontinuedOperationLaborandRelatedExpense_10F6850A2E06B98A1A4F16EC282309AE" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Salaries and benefit </link:label>

<link:label id="lab_cit_DisposalGroupIncludingDiscontinuedOperationLaborandRelatedExpense_10F6850A2E06B98A1A4F16EC282309AE_label_en-US" xlink:label="lab_cit_DisposalGroupIncludingDiscontinuedOperationLaborandRelatedExpense_10F6850A2E06B98A1A4F16EC282309AE" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Disposal Group, Including Discontinued Operation, Labor and Related Expense </link:label>

<link:label id="lab_cit_DisposalGroupIncludingDiscontinuedOperationLaborandRelatedExpense_10F6850A2E06B98A1A4F16EC282309AE_documentation_en-US" xlink:label="lab_cit_DisposalGroupIncludingDiscontinuedOperationLaborandRelatedExpense_10F6850A2E06B98A1A4F16EC282309AE" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Disposal Group, Including Discontinued Operation, Labor and Related Expense </link:label>

<link:loc xlink:href="cit-20180331.xsd#cit_DisposalGroupIncludingDiscontinuedOperationLaborandRelatedExpense" xlink:label="loc_cit_DisposalGroupIncludingDiscontinuedOperationLaborandRelatedExpense_10F6850A2E06B98A1A4F16EC282309AE" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cit_DisposalGroupIncludingDiscontinuedOperationLaborandRelatedExpense_10F6850A2E06B98A1A4F16EC282309AE" xlink:to="lab_cit_DisposalGroupIncludingDiscontinuedOperationLaborandRelatedExpense_10F6850A2E06B98A1A4F16EC282309AE" xlink:type="arc"/>

<link:label id="lab_cit_DisposalGroupIncludingDiscontinuedOperationsProfessionalFees_501EBDA0197B8B7686F916EC2824C546_terseLabel_en-US" xlink:label="lab_cit_DisposalGroupIncludingDiscontinuedOperationsProfessionalFees_501EBDA0197B8B7686F916EC2824C546" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Professional and legal services </link:label>

<link:label id="lab_cit_DisposalGroupIncludingDiscontinuedOperationsProfessionalFees_501EBDA0197B8B7686F916EC2824C546_label_en-US" xlink:label="lab_cit_DisposalGroupIncludingDiscontinuedOperationsProfessionalFees_501EBDA0197B8B7686F916EC2824C546" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Disposal Group, Including Discontinued Operations, Professional Fees </link:label>

<link:label id="lab_cit_DisposalGroupIncludingDiscontinuedOperationsProfessionalFees_501EBDA0197B8B7686F916EC2824C546_documentation_en-US" xlink:label="lab_cit_DisposalGroupIncludingDiscontinuedOperationsProfessionalFees_501EBDA0197B8B7686F916EC2824C546" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Disposal Group, Including Discontinued Operations, Professional Fees </link:label>

<link:loc xlink:href="cit-20180331.xsd#cit_DisposalGroupIncludingDiscontinuedOperationsProfessionalFees" xlink:label="loc_cit_DisposalGroupIncludingDiscontinuedOperationsProfessionalFees_501EBDA0197B8B7686F916EC2824C546" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cit_DisposalGroupIncludingDiscontinuedOperationsProfessionalFees_501EBDA0197B8B7686F916EC2824C546" xlink:to="lab_cit_DisposalGroupIncludingDiscontinuedOperationsProfessionalFees_501EBDA0197B8B7686F916EC2824C546" xlink:type="arc"/>

<link:label id="lab_us-gaap_DisposalGroupIncludingDiscontinuedOperationOtherExpense_7C691AAD4BC13354C30616EC2824213C_verboseLabel_en-US" xlink:label="lab_us-gaap_DisposalGroupIncludingDiscontinuedOperationOtherExpense_7C691AAD4BC13354C30616EC2824213C" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Other expenses </link:label>

<link:label id="lab_us-gaap_DisposalGroupIncludingDiscontinuedOperationOtherExpense_7C691AAD4BC13354C30616EC2824213C_label_en-US" xlink:label="lab_us-gaap_DisposalGroupIncludingDiscontinuedOperationOtherExpense_7C691AAD4BC13354C30616EC2824213C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Disposal Group, Including Discontinued Operation, Other Expense </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_DisposalGroupIncludingDiscontinuedOperationOtherExpense" xlink:label="loc_us-gaap_DisposalGroupIncludingDiscontinuedOperationOtherExpense_7C691AAD4BC13354C30616EC2824213C" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DisposalGroupIncludingDiscontinuedOperationOtherExpense_7C691AAD4BC13354C30616EC2824213C" xlink:to="lab_us-gaap_DisposalGroupIncludingDiscontinuedOperationOtherExpense_7C691AAD4BC13354C30616EC2824213C" xlink:type="arc"/>

<link:label id="lab_cit_DisposalGroupIncludingDiscontinuedOperationEffectiveIncomeTaxRate_6730580F1D37729554B016EC282488D9_terseLabel_en-US" xlink:label="lab_cit_DisposalGroupIncludingDiscontinuedOperationEffectiveIncomeTaxRate_6730580F1D37729554B016EC282488D9" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Tax rate for discontinued operations </link:label>

<link:label id="lab_cit_DisposalGroupIncludingDiscontinuedOperationEffectiveIncomeTaxRate_6730580F1D37729554B016EC282488D9_label_en-US" xlink:label="lab_cit_DisposalGroupIncludingDiscontinuedOperationEffectiveIncomeTaxRate_6730580F1D37729554B016EC282488D9" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Disposal Group, Including Discontinued Operation, Effective Income Tax Rate </link:label>

<link:label id="lab_cit_DisposalGroupIncludingDiscontinuedOperationEffectiveIncomeTaxRate_6730580F1D37729554B016EC282488D9_documentation_en-US" xlink:label="lab_cit_DisposalGroupIncludingDiscontinuedOperationEffectiveIncomeTaxRate_6730580F1D37729554B016EC282488D9" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Disposal Group, Including Discontinued Operation, Effective Income Tax Rate </link:label>

<link:loc xlink:href="cit-20180331.xsd#cit_DisposalGroupIncludingDiscontinuedOperationEffectiveIncomeTaxRate" xlink:label="loc_cit_DisposalGroupIncludingDiscontinuedOperationEffectiveIncomeTaxRate_6730580F1D37729554B016EC282488D9" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cit_DisposalGroupIncludingDiscontinuedOperationEffectiveIncomeTaxRate_6730580F1D37729554B016EC282488D9" xlink:to="lab_cit_DisposalGroupIncludingDiscontinuedOperationEffectiveIncomeTaxRate_6730580F1D37729554B016EC282488D9" xlink:type="arc"/>

<link:label id="lab_us-gaap_CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations_DBF8EED5E57CE78D73F116EC2824BB2B_terseLabel_en-US" xlink:label="lab_us-gaap_CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations_DBF8EED5E57CE78D73F116EC2824BB2B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Net cash flows provided by operations </link:label>

<link:label id="lab_us-gaap_CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations_DBF8EED5E57CE78D73F116EC2824BB2B_label_en-US" xlink:label="lab_us-gaap_CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations_DBF8EED5E57CE78D73F116EC2824BB2B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Cash Provided by (Used in) Operating Activities, Discontinued Operations </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations" xlink:label="loc_us-gaap_CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations_DBF8EED5E57CE78D73F116EC2824BB2B" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations_DBF8EED5E57CE78D73F116EC2824BB2B" xlink:to="lab_us-gaap_CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations_DBF8EED5E57CE78D73F116EC2824BB2B" xlink:type="arc"/>

<link:label id="lab_us-gaap_CashProvidedByUsedInInvestingActivitiesDiscontinuedOperations_85065E75CE8FEB82F6AC16EC2824F9F3_verboseLabel_en-US" xlink:label="lab_us-gaap_CashProvidedByUsedInInvestingActivitiesDiscontinuedOperations_85065E75CE8FEB82F6AC16EC2824F9F3" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Net cash flows provided by investing activities </link:label>

<link:label id="lab_us-gaap_CashProvidedByUsedInInvestingActivitiesDiscontinuedOperations_85065E75CE8FEB82F6AC16EC2824F9F3_label_en-US" xlink:label="lab_us-gaap_CashProvidedByUsedInInvestingActivitiesDiscontinuedOperations_85065E75CE8FEB82F6AC16EC2824F9F3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Cash Provided by (Used in) Investing Activities, Discontinued Operations </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_CashProvidedByUsedInInvestingActivitiesDiscontinuedOperations" xlink:label="loc_us-gaap_CashProvidedByUsedInInvestingActivitiesDiscontinuedOperations_85065E75CE8FEB82F6AC16EC2824F9F3" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CashProvidedByUsedInInvestingActivitiesDiscontinuedOperations_85065E75CE8FEB82F6AC16EC2824F9F3" xlink:to="lab_us-gaap_CashProvidedByUsedInInvestingActivitiesDiscontinuedOperations_85065E75CE8FEB82F6AC16EC2824F9F3" xlink:type="arc"/>

<link:label id="lab_us-gaap_FairValueDisclosuresTextBlock_0F8999041B2DDA895686071F6F353005_verboseLabel_en-US" xlink:label="lab_us-gaap_FairValueDisclosuresTextBlock_B9EDBBDC11DB56ECA8C474D51885E04B" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> FAIR VALUE </link:label>

<link:label id="lab_us-gaap_FairValueDisclosuresTextBlock_0F8999041B2DDA895686071F6F353005_label_en-US" xlink:label="lab_us-gaap_FairValueDisclosuresTextBlock_B9EDBBDC11DB56ECA8C474D51885E04B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Fair Value Disclosures [Text Block] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_FairValueDisclosuresTextBlock" xlink:label="loc_us-gaap_FairValueDisclosuresTextBlock_B9EDBBDC11DB56ECA8C474D51885E04B" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueDisclosuresTextBlock_B9EDBBDC11DB56ECA8C474D51885E04B" xlink:to="lab_us-gaap_FairValueDisclosuresTextBlock_B9EDBBDC11DB56ECA8C474D51885E04B" xlink:type="arc"/>

<link:label id="lab_us-gaap_LongTermDebtTextBlock_D205137C38A0BA1828C3071F6F7E7C61_terseLabel_en-US" xlink:label="lab_us-gaap_LongTermDebtTextBlock_BA990490126452FDBADBF38D244210C5" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> BORROWINGS </link:label>

<link:label id="lab_us-gaap_LongTermDebtTextBlock_D205137C38A0BA1828C3071F6F7E7C61_label_en-US" xlink:label="lab_us-gaap_LongTermDebtTextBlock_BA990490126452FDBADBF38D244210C5" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Long-term Debt [Text Block] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_LongTermDebtTextBlock" xlink:label="loc_us-gaap_LongTermDebtTextBlock_BA990490126452FDBADBF38D244210C5" xlink:type="locator"/>

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<link:label id="lab_cit_ScheduleOfLoansInProcessOfForeclosureTable_DD0D08A7CBDDBF2C28120802A50F1308_terseLabel_en-US" xlink:label="lab_cit_ScheduleOfLoansInProcessOfForeclosureTable_DD0D08A7CBDDBF2C28120802A50F1308" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Schedule Of Loans In Process Of Foreclosure [Table] </link:label>

<link:label id="lab_cit_ScheduleOfLoansInProcessOfForeclosureTable_DD0D08A7CBDDBF2C28120802A50F1308_label_en-US" xlink:label="lab_cit_ScheduleOfLoansInProcessOfForeclosureTable_DD0D08A7CBDDBF2C28120802A50F1308" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Schedule Of Loans In Process Of Foreclosure [Table] </link:label>

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<link:label id="lab_us-gaap_ReceivablesAcquiredWithDeterioratedCreditQualityAxis_7B5BB62A1C55F49E53A60802A50F83C6_terseLabel_en-US" xlink:label="lab_us-gaap_ReceivablesAcquiredWithDeterioratedCreditQualityAxis_7B5BB62A1C55F49E53A60802A50F83C6" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Receivables Acquired with Deteriorated Credit Quality [Axis] </link:label>

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<link:label id="lab_us-gaap_ReceivablesAcquiredWithDeterioratedCreditQualityDomain_9BC007A55340572BDCEF0802A50FF6E8_terseLabel_en-US" xlink:label="lab_us-gaap_ReceivablesAcquiredWithDeterioratedCreditQualityDomain_9BC007A55340572BDCEF0802A50FF6E8" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Receivables Acquired with Deteriorated Credit Quality [Domain] </link:label>

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<link:label id="lab_us-gaap_ReceivablesAcquiredWithDeterioratedCreditQualityMember_D8D04FF8C130E8185CE40802A50F4D01_terseLabel_en-US" xlink:label="lab_us-gaap_ReceivablesAcquiredWithDeterioratedCreditQualityMember_D8D04FF8C130E8185CE40802A50F4D01" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> PCI Loans </link:label>

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<link:label id="lab_us-gaap_InternalCreditAssessmentDomain_A10FCA4C5AD527E3F2AC0802A50F69EE_terseLabel_en-US" xlink:label="lab_us-gaap_InternalCreditAssessmentDomain_A10FCA4C5AD527E3F2AC0802A50F69EE" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Financing Receivable, by Credit Quality Indicator [Domain] </link:label>

<link:label id="lab_us-gaap_InternalCreditAssessmentDomain_A10FCA4C5AD527E3F2AC0802A50F69EE_label_en-US" xlink:label="lab_us-gaap_InternalCreditAssessmentDomain_A10FCA4C5AD527E3F2AC0802A50F69EE" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Internal Credit Assessment [Domain] </link:label>

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<link:label id="lab_cit_NonPciLoansMember_A3A037BE32F9ED47DFAF0802A50F856D_terseLabel_en-US" xlink:label="lab_cit_NonPciLoansMember_A3A037BE32F9ED47DFAF0802A50F856D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Non-PCI </link:label>

<link:label id="lab_cit_NonPciLoansMember_A3A037BE32F9ED47DFAF0802A50F856D_label_en-US" xlink:label="lab_cit_NonPciLoansMember_A3A037BE32F9ED47DFAF0802A50F856D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Non Pci Loans [Member] </link:label>

<link:label id="lab_cit_NonPciLoansMember_A3A037BE32F9ED47DFAF0802A50F856D_documentation_en-US" xlink:label="lab_cit_NonPciLoansMember_A3A037BE32F9ED47DFAF0802A50F856D" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Non-PCI Loans [Member] </link:label>

<link:loc xlink:href="cit-20180331.xsd#cit_NonPciLoansMember" xlink:label="loc_cit_NonPciLoansMember_A3A037BE32F9ED47DFAF0802A50F856D" xlink:type="locator"/>

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<link:label id="lab_cit_OreoMember_6EC6CC46F2DBE739607F0802A50FD4D1_terseLabel_en-US" xlink:label="lab_cit_OreoMember_6EC6CC46F2DBE739607F0802A50FD4D1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> OREO </link:label>

<link:label id="lab_cit_OreoMember_6EC6CC46F2DBE739607F0802A50FD4D1_label_en-US" xlink:label="lab_cit_OreoMember_6EC6CC46F2DBE739607F0802A50FD4D1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Oreo [Member] </link:label>

<link:label id="lab_cit_OreoMember_6EC6CC46F2DBE739607F0802A50FD4D1_documentation_en-US" xlink:label="lab_cit_OreoMember_6EC6CC46F2DBE739607F0802A50FD4D1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> OREO [Member] </link:label>

<link:loc xlink:href="cit-20180331.xsd#cit_OreoMember" xlink:label="loc_cit_OreoMember_6EC6CC46F2DBE739607F0802A50FD4D1" xlink:type="locator"/>

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<link:label id="lab_us-gaap_FinancingReceivableRecordedInvestmentClassOfFinancingReceivableDomain_7B5DA95A285B7321F3300802A50FDA12_terseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableRecordedInvestmentClassOfFinancingReceivableDomain_7B5DA95A285B7321F3300802A50FDA12" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Class of Financing Receivable, Type [Domain] </link:label>

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<link:label id="lab_cit_LoansInProcessOfForeclosureLineItems_0619CFBFE7370198948E0802A50FB410_terseLabel_en-US" xlink:label="lab_cit_LoansInProcessOfForeclosureLineItems_0619CFBFE7370198948E0802A50FB410" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Loans In Process Of Foreclosure [Line Items] </link:label>

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<link:label id="lab_us-gaap_MortgageLoansInProcessOfForeclosureAmount_414FA62F8D0E564710530802A50F76D7_terseLabel_en-US" xlink:label="lab_us-gaap_MortgageLoansInProcessOfForeclosureAmount_414FA62F8D0E564710530802A50F76D7" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Loans in process of foreclosure </link:label>

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<link:label id="lab_us-gaap_LongtermDebtTypeAxis_96B0D1E16C169E81624F23D6DBB382FC_terseLabel_en-US" xlink:label="lab_us-gaap_LongtermDebtTypeAxis_96B0D1E16C169E81624F23D6DBB382FC" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Long-term Debt, Type [Axis] </link:label>

<link:label id="lab_us-gaap_LongtermDebtTypeAxis_96B0D1E16C169E81624F23D6DBB382FC_label_en-US" xlink:label="lab_us-gaap_LongtermDebtTypeAxis_96B0D1E16C169E81624F23D6DBB382FC" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Long-term Debt, Type [Axis] </link:label>

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<link:label id="lab_us-gaap_LongtermDebtTypeDomain_C2170A1AE8DFEBB9136423D6DBB31684_terseLabel_en-US" xlink:label="lab_us-gaap_LongtermDebtTypeDomain_C2170A1AE8DFEBB9136423D6DBB31684" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Long-term Debt, Type [Domain] </link:label>

<link:label id="lab_us-gaap_LongtermDebtTypeDomain_C2170A1AE8DFEBB9136423D6DBB31684_label_en-US" xlink:label="lab_us-gaap_LongtermDebtTypeDomain_C2170A1AE8DFEBB9136423D6DBB31684" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Long-term Debt, Type [Domain] </link:label>

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<link:label id="lab_us-gaap_SeniorNotesMember_5FBDA7633A1181C0D60E23D6DBB3C9F5_terseLabel_en-US" xlink:label="lab_us-gaap_SeniorNotesMember_5FBDA7633A1181C0D60E23D6DBB3C9F5" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Senior Unsecured </link:label>

<link:label id="lab_us-gaap_SeniorNotesMember_5FBDA7633A1181C0D60E23D6DBB3C9F5_label_en-US" xlink:label="lab_us-gaap_SeniorNotesMember_5FBDA7633A1181C0D60E23D6DBB3C9F5" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Senior Notes [Member] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_SeniorNotesMember" xlink:label="loc_us-gaap_SeniorNotesMember_5FBDA7633A1181C0D60E23D6DBB3C9F5" xlink:type="locator"/>

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<link:label id="lab_invest_DerivativeNotionalAmount_8344FCB83ABDD075317323D6DBB31A0E_verboseLabel_en-US" xlink:label="lab_invest_DerivativeNotionalAmount_8344FCB83ABDD075317323D6DBB31A0E" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Notional amount of derivative </link:label>

<link:loc xlink:href="http://xbrl.sec.gov/invest/2013/invest-2013-01-31.xsd#invest_DerivativeNotionalAmount" xlink:label="loc_invest_DerivativeNotionalAmount_8344FCB83ABDD075317323D6DBB31A0E" xlink:type="locator"/>

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<link:label id="lab_us-gaap_DebtInstrumentTerm_906E008EA22D92D5226023D6DBB37060_terseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentTerm_906E008EA22D92D5226023D6DBB37060" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Debt instrument term </link:label>

<link:label id="lab_us-gaap_DebtInstrumentTerm_906E008EA22D92D5226023D6DBB37060_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentTerm_906E008EA22D92D5226023D6DBB37060" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Debt Instrument, Term </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_DebtInstrumentTerm" xlink:label="loc_us-gaap_DebtInstrumentTerm_906E008EA22D92D5226023D6DBB37060" xlink:type="locator"/>

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<link:label id="lab_us-gaap_DebtInstrumentInterestRateStatedPercentage_FC4ED8F729C09794414923D6DBB36250_verboseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentInterestRateStatedPercentage_FC4ED8F729C09794414923D6DBB36250" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Interest rate </link:label>

<link:label id="lab_us-gaap_DebtInstrumentInterestRateStatedPercentage_FC4ED8F729C09794414923D6DBB36250_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentInterestRateStatedPercentage_FC4ED8F729C09794414923D6DBB36250" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Debt Instrument, Interest Rate, Stated Percentage </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_DebtInstrumentInterestRateStatedPercentage" xlink:label="loc_us-gaap_DebtInstrumentInterestRateStatedPercentage_FC4ED8F729C09794414923D6DBB36250" xlink:type="locator"/>

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<link:label id="lab_cit_UnutilizedPortionOfFacilityAccountedForAsADerivative_42C64DAB4D31760D0F9A23D6DBB33C30_terseLabel_en-US" xlink:label="lab_cit_UnutilizedPortionOfFacilityAccountedForAsADerivative_42C64DAB4D31760D0F9A23D6DBB33C30" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Unutilized portion of facility accounted for as a derivative </link:label>

<link:label id="lab_cit_UnutilizedPortionOfFacilityAccountedForAsADerivative_42C64DAB4D31760D0F9A23D6DBB33C30_label_en-US" xlink:label="lab_cit_UnutilizedPortionOfFacilityAccountedForAsADerivative_42C64DAB4D31760D0F9A23D6DBB33C30" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Unutilized Portion Of Facility Accounted For As A Derivative </link:label>

<link:label id="lab_cit_UnutilizedPortionOfFacilityAccountedForAsADerivative_42C64DAB4D31760D0F9A23D6DBB33C30_documentation_en-US" xlink:label="lab_cit_UnutilizedPortionOfFacilityAccountedForAsADerivative_42C64DAB4D31760D0F9A23D6DBB33C30" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Unutilized Portion Of Facility Accounted For As A Derivative. </link:label>

<link:loc xlink:href="cit-20180331.xsd#cit_UnutilizedPortionOfFacilityAccountedForAsADerivative" xlink:label="loc_cit_UnutilizedPortionOfFacilityAccountedForAsADerivative_42C64DAB4D31760D0F9A23D6DBB33C30" xlink:type="locator"/>

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<link:label id="lab_cit_AggregateActualAdjustedQualifyingBorrowingBaseOutstanding_F56B58121EEFFFA14CC123D6DBB36156_verboseLabel_en-US" xlink:label="lab_cit_AggregateActualAdjustedQualifyingBorrowingBaseOutstanding_F56B58121EEFFFA14CC123D6DBB36156" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Aggregate actual adjusted qualifying borrowing base outstanding </link:label>

<link:label id="lab_cit_AggregateActualAdjustedQualifyingBorrowingBaseOutstanding_F56B58121EEFFFA14CC123D6DBB36156_label_en-US" xlink:label="lab_cit_AggregateActualAdjustedQualifyingBorrowingBaseOutstanding_F56B58121EEFFFA14CC123D6DBB36156" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Aggregate Actual Adjusted Qualifying Borrowing Base Outstanding </link:label>

<link:label id="lab_cit_AggregateActualAdjustedQualifyingBorrowingBaseOutstanding_F56B58121EEFFFA14CC123D6DBB36156_documentation_en-US" xlink:label="lab_cit_AggregateActualAdjustedQualifyingBorrowingBaseOutstanding_F56B58121EEFFFA14CC123D6DBB36156" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Aggregate actual adjusted qualifying borrowing base outstanding. </link:label>

<link:loc xlink:href="cit-20180331.xsd#cit_AggregateActualAdjustedQualifyingBorrowingBaseOutstanding" xlink:label="loc_cit_AggregateActualAdjustedQualifyingBorrowingBaseOutstanding_F56B58121EEFFFA14CC123D6DBB36156" xlink:type="locator"/>

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<link:label id="lab_us-gaap_DerivativeCreditRiskValuationAdjustmentDerivativeLiabilities_647A781A13C06BBB270523D6DBB963A2_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativeCreditRiskValuationAdjustmentDerivativeLiabilities_647A781A13C06BBB270523D6DBB963A2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Liability recorded based on Company's valuation </link:label>

<link:label id="lab_us-gaap_DerivativeCreditRiskValuationAdjustmentDerivativeLiabilities_647A781A13C06BBB270523D6DBB963A2_label_en-US" xlink:label="lab_us-gaap_DerivativeCreditRiskValuationAdjustmentDerivativeLiabilities_647A781A13C06BBB270523D6DBB963A2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Derivative Credit Risk Valuation Adjustment, Derivative Liabilities </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_DerivativeCreditRiskValuationAdjustmentDerivativeLiabilities" xlink:label="loc_us-gaap_DerivativeCreditRiskValuationAdjustmentDerivativeLiabilities_647A781A13C06BBB270523D6DBB963A2" xlink:type="locator"/>

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<link:label id="lab_us-gaap_DerivativeGainLossOnDerivativeNet_8465195AC686F9023CAE23D6DBB90789_negatedLabel_en-US" xlink:label="lab_us-gaap_DerivativeGainLossOnDerivativeNet_8465195AC686F9023CAE23D6DBB90789" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US"> Increase (decrease) in liability </link:label>

<link:label id="lab_us-gaap_DerivativeGainLossOnDerivativeNet_8465195AC686F9023CAE23D6DBB90789_label_en-US" xlink:label="lab_us-gaap_DerivativeGainLossOnDerivativeNet_8465195AC686F9023CAE23D6DBB90789" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Derivative, Gain (Loss) on Derivative, Net </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_DerivativeGainLossOnDerivativeNet" xlink:label="loc_us-gaap_DerivativeGainLossOnDerivativeNet_8465195AC686F9023CAE23D6DBB90789" xlink:type="locator"/>

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<link:label id="lab_us-gaap_AccountingPoliciesAbstract_9DC66BD4F6F711F65E4423D83BF3C1D2_label_en-US" xlink:label="lab_us-gaap_AccountingPoliciesAbstract_9DC66BD4F6F711F65E4423D83BF3C1D2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Accounting Policies [Abstract] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_AccountingPoliciesAbstract" xlink:label="loc_us-gaap_AccountingPoliciesAbstract_9DC66BD4F6F711F65E4423D83BF3C1D2" xlink:type="locator"/>

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<link:label id="lab_cit_NumberOfBranches_D73530E296766F7060A823D83BF3F27D_label_en-US" xlink:label="lab_cit_NumberOfBranches_D73530E296766F7060A823D83BF3F27D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Number Of Branches </link:label>

<link:label id="lab_cit_NumberOfBranches_D73530E296766F7060A823D83BF3F27D_documentation_en-US" xlink:label="lab_cit_NumberOfBranches_D73530E296766F7060A823D83BF3F27D" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Number Of Branches </link:label>

<link:loc xlink:href="cit-20180331.xsd#cit_NumberOfBranches" xlink:label="loc_cit_NumberOfBranches_D73530E296766F7060A823D83BF3F27D" xlink:type="locator"/>

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<link:label id="lab_us-gaap_NewAccountingPronouncementsOrChangeInAccountingPrincipleTable_C9D382736329B8E39D6023D83BF34CC2_terseLabel_en-US" xlink:label="lab_us-gaap_NewAccountingPronouncementsOrChangeInAccountingPrincipleTable_C9D382736329B8E39D6023D83BF34CC2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> New Accounting Pronouncements or Change in Accounting Principle [Table] </link:label>

<link:label id="lab_us-gaap_NewAccountingPronouncementsOrChangeInAccountingPrincipleTable_C9D382736329B8E39D6023D83BF34CC2_label_en-US" xlink:label="lab_us-gaap_NewAccountingPronouncementsOrChangeInAccountingPrincipleTable_C9D382736329B8E39D6023D83BF34CC2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> New Accounting Pronouncements or Change in Accounting Principle [Table] </link:label>

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<link:label id="lab_us-gaap_AdjustmentsForNewAccountingPronouncementsAxis_75CAAD3E229B1E62DDDA23D83BF40D06_terseLabel_en-US" xlink:label="lab_us-gaap_AdjustmentsForNewAccountingPronouncementsAxis_75CAAD3E229B1E62DDDA23D83BF40D06" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Adjustments for New Accounting Pronouncements [Axis] </link:label>

<link:label id="lab_us-gaap_AdjustmentsForNewAccountingPronouncementsAxis_75CAAD3E229B1E62DDDA23D83BF40D06_label_en-US" xlink:label="lab_us-gaap_AdjustmentsForNewAccountingPronouncementsAxis_75CAAD3E229B1E62DDDA23D83BF40D06" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Adjustments for New Accounting Pronouncements [Axis] </link:label>

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<link:label id="lab_us-gaap_VariableRateDomain_4F1AA7D16F0A42CEB77B27BDC91F5E38_label_en-US" xlink:label="lab_us-gaap_VariableRateDomain_4F1AA7D16F0A42CEB77B27BDC91F5E38" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Variable Rate [Domain] </link:label>

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<link:label id="lab_us-gaap_LondonInterbankOfferedRateLIBORMember_179888DAB4689370F85727BDC91FBBBC_terseLabel_en-US" xlink:label="lab_us-gaap_LondonInterbankOfferedRateLIBORMember_179888DAB4689370F85727BDC91FBBBC" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> LIBOR </link:label>

<link:label id="lab_us-gaap_LondonInterbankOfferedRateLIBORMember_179888DAB4689370F85727BDC91FBBBC_label_en-US" xlink:label="lab_us-gaap_LondonInterbankOfferedRateLIBORMember_179888DAB4689370F85727BDC91FBBBC" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> London Interbank Offered Rate (LIBOR) [Member] </link:label>

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<link:label id="lab_us-gaap_BaseRateMember_20F51C0C4D25546D2B7927BDC91F13FA_terseLabel_en-US" xlink:label="lab_us-gaap_BaseRateMember_20F51C0C4D25546D2B7927BDC91F13FA" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Base Rate </link:label>

<link:label id="lab_us-gaap_BaseRateMember_20F51C0C4D25546D2B7927BDC91F13FA_label_en-US" xlink:label="lab_us-gaap_BaseRateMember_20F51C0C4D25546D2B7927BDC91F13FA" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Base Rate [Member] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_BaseRateMember" xlink:label="loc_us-gaap_BaseRateMember_20F51C0C4D25546D2B7927BDC91F13FA" xlink:type="locator"/>

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<link:label id="lab_us-gaap_SubordinatedDebtMember_ECA5CF0764F07A806E2C27BDC91F964A_terseLabel_en-US" xlink:label="lab_us-gaap_SubordinatedDebtMember_ECA5CF0764F07A806E2C27BDC91F964A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Subordinated unsecured debt </link:label>

<link:label id="lab_us-gaap_SubordinatedDebtMember_ECA5CF0764F07A806E2C27BDC91F964A_label_en-US" xlink:label="lab_us-gaap_SubordinatedDebtMember_ECA5CF0764F07A806E2C27BDC91F964A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Subordinated Debt [Member] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_SubordinatedDebtMember" xlink:label="loc_us-gaap_SubordinatedDebtMember_ECA5CF0764F07A806E2C27BDC91F964A" xlink:type="locator"/>

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<link:label id="lab_cit_SecuredBorrowingsStructuredFinancingsMember_9436137084FD78D420A127BDC91F995B_terseLabel_en-US" xlink:label="lab_cit_SecuredBorrowingsStructuredFinancingsMember_9436137084FD78D420A127BDC91F995B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Structured financings </link:label>

<link:label id="lab_cit_SecuredBorrowingsStructuredFinancingsMember_9436137084FD78D420A127BDC91F995B_label_en-US" xlink:label="lab_cit_SecuredBorrowingsStructuredFinancingsMember_9436137084FD78D420A127BDC91F995B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Secured Borrowings Structured Financings [Member] </link:label>

<link:label id="lab_cit_SecuredBorrowingsStructuredFinancingsMember_9436137084FD78D420A127BDC91F995B_documentation_en-US" xlink:label="lab_cit_SecuredBorrowingsStructuredFinancingsMember_9436137084FD78D420A127BDC91F995B" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Secured Borrowings Structured Financings [Member] </link:label>

<link:loc xlink:href="cit-20180331.xsd#cit_SecuredBorrowingsStructuredFinancingsMember" xlink:label="loc_cit_SecuredBorrowingsStructuredFinancingsMember_9436137084FD78D420A127BDC91F995B" xlink:type="locator"/>

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<link:label id="lab_cit_FivePointFiveZeroZeroPercentSeniorUnsecuredDebtDueFebruaryTwentyNineteenMember_1A9B82C4F3651084CBB727BDC91F96A2_terseLabel_en-US" xlink:label="lab_cit_FivePointFiveZeroZeroPercentSeniorUnsecuredDebtDueFebruaryTwentyNineteenMember_1A9B82C4F3651084CBB727BDC91F96A2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> 5.500% Senior Unsecured Notes Due February 2019 </link:label>

<link:label id="lab_cit_FivePointFiveZeroZeroPercentSeniorUnsecuredDebtDueFebruaryTwentyNineteenMember_1A9B82C4F3651084CBB727BDC91F96A2_label_en-US" xlink:label="lab_cit_FivePointFiveZeroZeroPercentSeniorUnsecuredDebtDueFebruaryTwentyNineteenMember_1A9B82C4F3651084CBB727BDC91F96A2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Five Point Five Zero Zero Percent Senior Unsecured Debt Due February Twenty Nineteen [Member] </link:label>

<link:label id="lab_cit_FivePointFiveZeroZeroPercentSeniorUnsecuredDebtDueFebruaryTwentyNineteenMember_1A9B82C4F3651084CBB727BDC91F96A2_documentation_en-US" xlink:label="lab_cit_FivePointFiveZeroZeroPercentSeniorUnsecuredDebtDueFebruaryTwentyNineteenMember_1A9B82C4F3651084CBB727BDC91F96A2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Five Point Five Zero Zero Percent Senior Unsecured Debt Due February Twenty Nineteen [Member] </link:label>

<link:loc xlink:href="cit-20180331.xsd#cit_FivePointFiveZeroZeroPercentSeniorUnsecuredDebtDueFebruaryTwentyNineteenMember" xlink:label="loc_cit_FivePointFiveZeroZeroPercentSeniorUnsecuredDebtDueFebruaryTwentyNineteenMember_1A9B82C4F3651084CBB727BDC91F96A2" xlink:type="locator"/>

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<link:label id="lab_cit_ThreePointEightSevenFivePercentSeniorUnsecuredDebtDueFebruaryTwentyNineteenMember_41CBD05E7A1D967909D127BDC91F103F_terseLabel_en-US" xlink:label="lab_cit_ThreePointEightSevenFivePercentSeniorUnsecuredDebtDueFebruaryTwentyNineteenMember_41CBD05E7A1D967909D127BDC91F103F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> 3.875% Senior Unsecured Notes Due February 2019 </link:label>

<link:label id="lab_cit_ThreePointEightSevenFivePercentSeniorUnsecuredDebtDueFebruaryTwentyNineteenMember_41CBD05E7A1D967909D127BDC91F103F_label_en-US" xlink:label="lab_cit_ThreePointEightSevenFivePercentSeniorUnsecuredDebtDueFebruaryTwentyNineteenMember_41CBD05E7A1D967909D127BDC91F103F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Three Point Eight Seven Five Percent Senior Unsecured Debt Due February Twenty Nineteen [Member] </link:label>

<link:label id="lab_cit_ThreePointEightSevenFivePercentSeniorUnsecuredDebtDueFebruaryTwentyNineteenMember_41CBD05E7A1D967909D127BDC91F103F_documentation_en-US" xlink:label="lab_cit_ThreePointEightSevenFivePercentSeniorUnsecuredDebtDueFebruaryTwentyNineteenMember_41CBD05E7A1D967909D127BDC91F103F" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Three Point Eight Seven Five Percent Senior Unsecured Debt Due February Twenty Nineteen [Member] </link:label>

<link:loc xlink:href="cit-20180331.xsd#cit_ThreePointEightSevenFivePercentSeniorUnsecuredDebtDueFebruaryTwentyNineteenMember" xlink:label="loc_cit_ThreePointEightSevenFivePercentSeniorUnsecuredDebtDueFebruaryTwentyNineteenMember_41CBD05E7A1D967909D127BDC91F103F" xlink:type="locator"/>

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<link:label id="lab_cit_SeniorUnsecuredNote6.00MaturingIn2036Member_30BC525D211B251AA1F727BDC91F2534_terseLabel_en-US" xlink:label="lab_cit_SeniorUnsecuredNote6.00MaturingIn2036Member_30BC525D211B251AA1F727BDC91F2534" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Senior Unsecured Note, 6.00% Maturing in 2036 </link:label>

<link:label id="lab_cit_SeniorUnsecuredNote6.00MaturingIn2036Member_30BC525D211B251AA1F727BDC91F2534_label_en-US" xlink:label="lab_cit_SeniorUnsecuredNote6.00MaturingIn2036Member_30BC525D211B251AA1F727BDC91F2534" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Senior Unsecured Note6.00 Maturing In 2036 [Member] </link:label>

<link:label id="lab_cit_SeniorUnsecuredNote6.00MaturingIn2036Member_30BC525D211B251AA1F727BDC91F2534_documentation_en-US" xlink:label="lab_cit_SeniorUnsecuredNote6.00MaturingIn2036Member_30BC525D211B251AA1F727BDC91F2534" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Senior Unsecured Note, 6.00% Maturing in 2036 [Member] </link:label>

<link:loc xlink:href="cit-20180331.xsd#cit_SeniorUnsecuredNote6.00MaturingIn2036Member" xlink:label="loc_cit_SeniorUnsecuredNote6.00MaturingIn2036Member_30BC525D211B251AA1F727BDC91F2534" xlink:type="locator"/>

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<link:label id="lab_cit_SixPointOneTwoFivePercentSubordinatedUnsecuredDebtDueMarchTwentyTwentyEightMember_AE2F1B1E000CC29E2DD027BDC9209A35_terseLabel_en-US" xlink:label="lab_cit_SixPointOneTwoFivePercentSubordinatedUnsecuredDebtDueMarchTwentyTwentyEightMember_AE2F1B1E000CC29E2DD027BDC9209A35" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> 6.125% Subordinated Unsecured Notes Due March 2028 </link:label>

<link:label id="lab_cit_SixPointOneTwoFivePercentSubordinatedUnsecuredDebtDueMarchTwentyTwentyEightMember_AE2F1B1E000CC29E2DD027BDC9209A35_label_en-US" xlink:label="lab_cit_SixPointOneTwoFivePercentSubordinatedUnsecuredDebtDueMarchTwentyTwentyEightMember_AE2F1B1E000CC29E2DD027BDC9209A35" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Six Point One Two Five Percent Subordinated Unsecured Debt Due March Twenty Twenty Eight [Member] </link:label>

<link:label id="lab_cit_SixPointOneTwoFivePercentSubordinatedUnsecuredDebtDueMarchTwentyTwentyEightMember_AE2F1B1E000CC29E2DD027BDC9209A35_documentation_en-US" xlink:label="lab_cit_SixPointOneTwoFivePercentSubordinatedUnsecuredDebtDueMarchTwentyTwentyEightMember_AE2F1B1E000CC29E2DD027BDC9209A35" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Six Point One Two Five Percent Subordinated Unsecured Debt Due March Twenty Twenty Eight [Member] </link:label>

<link:loc xlink:href="cit-20180331.xsd#cit_SixPointOneTwoFivePercentSubordinatedUnsecuredDebtDueMarchTwentyTwentyEightMember" xlink:label="loc_cit_SixPointOneTwoFivePercentSubordinatedUnsecuredDebtDueMarchTwentyTwentyEightMember_AE2F1B1E000CC29E2DD027BDC9209A35" xlink:type="locator"/>

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<link:label id="lab_us-gaap_SubsequentEventTypeAxis_D4F467EA68F0BE64220727BDC920A5B9_terseLabel_en-US" xlink:label="lab_us-gaap_SubsequentEventTypeAxis_D4F467EA68F0BE64220727BDC920A5B9" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Subsequent Event Type [Axis] </link:label>

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<link:label id="lab_us-gaap_SubsequentEventMember_0EBD1641B54AE81F882E27BDC9201252_label_en-US" xlink:label="lab_us-gaap_SubsequentEventMember_0EBD1641B54AE81F882E27BDC9201252" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Subsequent Event [Member] </link:label>

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<link:label id="lab_us-gaap_BusinessAcquisitionAxis_198328734975C4AC1C5E27BDC921561B_terseLabel_en-US" xlink:label="lab_us-gaap_BusinessAcquisitionAxis_198328734975C4AC1C5E27BDC921561B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Business Acquisition [Axis] </link:label>

<link:label id="lab_us-gaap_BusinessAcquisitionAxis_198328734975C4AC1C5E27BDC921561B_label_en-US" xlink:label="lab_us-gaap_BusinessAcquisitionAxis_198328734975C4AC1C5E27BDC921561B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Business Acquisition [Axis] </link:label>

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<link:label id="lab_us-gaap_VariableInterestEntityPrimaryBeneficiaryMember_2C43F6D54B76F2AD4CD627BDC921FAE8_terseLabel_en-US" xlink:label="lab_us-gaap_VariableInterestEntityPrimaryBeneficiaryMember_2C43F6D54B76F2AD4CD627BDC921FAE8" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Variable Interest Entities </link:label>

<link:label id="lab_us-gaap_VariableInterestEntityPrimaryBeneficiaryMember_2C43F6D54B76F2AD4CD627BDC921FAE8_label_en-US" xlink:label="lab_us-gaap_VariableInterestEntityPrimaryBeneficiaryMember_2C43F6D54B76F2AD4CD627BDC921FAE8" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Variable Interest Entity, Primary Beneficiary [Member] </link:label>

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<link:label id="lab_us-gaap_MajorTypesOfDebtAndEquitySecuritiesAxis_5A78CC87764CB769D29927BDC9213C65_terseLabel_en-US" xlink:label="lab_us-gaap_MajorTypesOfDebtAndEquitySecuritiesAxis_5A78CC87764CB769D29927BDC9213C65" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Major Types of Debt and Equity Securities [Axis] </link:label>

<link:label id="lab_us-gaap_MajorTypesOfDebtAndEquitySecuritiesAxis_5A78CC87764CB769D29927BDC9213C65_label_en-US" xlink:label="lab_us-gaap_MajorTypesOfDebtAndEquitySecuritiesAxis_5A78CC87764CB769D29927BDC9213C65" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Major Types of Debt and Equity Securities [Axis] </link:label>

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<link:label id="lab_us-gaap_MajorTypesOfDebtAndEquitySecuritiesDomain_3F50D86322796A9B8C4A27BDC9217660_terseLabel_en-US" xlink:label="lab_us-gaap_MajorTypesOfDebtAndEquitySecuritiesDomain_3F50D86322796A9B8C4A27BDC9217660" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Major Types of Debt and Equity Securities [Domain] </link:label>

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<link:label id="lab_cit_HomeEquityConversionMortgageBackedSecuritiesMember_5D774FC8B3288CD9133027BDC921B22E_terseLabel_en-US" xlink:label="lab_cit_HomeEquityConversionMortgageBackedSecuritiesMember_5D774FC8B3288CD9133027BDC921B22E" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> HMBS Sensitizations </link:label>

<link:label id="lab_cit_HomeEquityConversionMortgageBackedSecuritiesMember_5D774FC8B3288CD9133027BDC921B22E_label_en-US" xlink:label="lab_cit_HomeEquityConversionMortgageBackedSecuritiesMember_5D774FC8B3288CD9133027BDC921B22E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Home Equity Conversion Mortgage Backed Securities [Member] </link:label>

<link:label id="lab_cit_HomeEquityConversionMortgageBackedSecuritiesMember_5D774FC8B3288CD9133027BDC921B22E_documentation_en-US" xlink:label="lab_cit_HomeEquityConversionMortgageBackedSecuritiesMember_5D774FC8B3288CD9133027BDC921B22E" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Home Equity Conversion Mortgage-backed Securities [Member] </link:label>

<link:loc xlink:href="cit-20180331.xsd#cit_HomeEquityConversionMortgageBackedSecuritiesMember" xlink:label="loc_cit_HomeEquityConversionMortgageBackedSecuritiesMember_5D774FC8B3288CD9133027BDC921B22E" xlink:type="locator"/>

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<link:label id="lab_us-gaap_DebtInstrumentLineItems_57318B94998F6CECA62027BDC9216D4C_terseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentLineItems_57318B94998F6CECA62027BDC9216D4C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Debt Instrument [Line Items] </link:label>

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<link:label id="lab_us-gaap_TierOneRiskBasedCapitalRequiredForCapitalAdequacyToRiskWeightedAssets_518AC2EB53483916D85127BDC9261228_terseLabel_en-US" xlink:label="lab_us-gaap_TierOneRiskBasedCapitalRequiredForCapitalAdequacyToRiskWeightedAssets_518AC2EB53483916D85127BDC9261228" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Tier 1 Capital minimum ratio </link:label>

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<link:label id="lab_us-gaap_LongTermDebt_A32EC26A296A125B93CF27D4C2B86470_label_en-US" xlink:label="lab_us-gaap_LongTermDebt_A32EC26A296A125B93CF27D4C2B86470" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Long-term Debt </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_LongTermDebt" xlink:label="loc_us-gaap_LongTermDebt_A32EC26A296A125B93CF27D4C2B86470" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LongTermDebt_A32EC26A296A125B93CF27D4C2B86470" xlink:to="lab_us-gaap_LongTermDebt_A32EC26A296A125B93CF27D4C2B86470" xlink:type="arc"/>

<link:label id="lab_us-gaap_LineOfCreditFacilityRemainingBorrowingCapacity_133A3B82E150A6EAB54827BDC92763B7_terseLabel_en-US" xlink:label="lab_us-gaap_LineOfCreditFacilityRemainingBorrowingCapacity_133A3B82E150A6EAB54827BDC92763B7" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Revolving credit facility, available draw amount </link:label>

<link:label id="lab_us-gaap_LineOfCreditFacilityRemainingBorrowingCapacity_133A3B82E150A6EAB54827BDC92763B7_label_en-US" xlink:label="lab_us-gaap_LineOfCreditFacilityRemainingBorrowingCapacity_133A3B82E150A6EAB54827BDC92763B7" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Line of Credit Facility, Remaining Borrowing Capacity </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_LineOfCreditFacilityRemainingBorrowingCapacity" xlink:label="loc_us-gaap_LineOfCreditFacilityRemainingBorrowingCapacity_133A3B82E150A6EAB54827BDC92763B7" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LineOfCreditFacilityRemainingBorrowingCapacity_133A3B82E150A6EAB54827BDC92763B7" xlink:to="lab_us-gaap_LineOfCreditFacilityRemainingBorrowingCapacity_133A3B82E150A6EAB54827BDC92763B7" xlink:type="arc"/>

<link:label id="lab_us-gaap_RepaymentsOfDebt_C8A3A4C8C82AD4AD9D4727BDC927686C_terseLabel_en-US" xlink:label="lab_us-gaap_RepaymentsOfDebt_C8A3A4C8C82AD4AD9D4727BDC927686C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Debt repurchased </link:label>

<link:label id="lab_us-gaap_RepaymentsOfDebt_C8A3A4C8C82AD4AD9D4727BDC927686C_label_en-US" xlink:label="lab_us-gaap_RepaymentsOfDebt_C8A3A4C8C82AD4AD9D4727BDC927686C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Repayments of Debt </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_RepaymentsOfDebt" xlink:label="loc_us-gaap_RepaymentsOfDebt_C8A3A4C8C82AD4AD9D4727BDC927686C" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RepaymentsOfDebt_C8A3A4C8C82AD4AD9D4727BDC927686C" xlink:to="lab_us-gaap_RepaymentsOfDebt_C8A3A4C8C82AD4AD9D4727BDC927686C" xlink:type="arc"/>

<link:label id="lab_us-gaap_DebtInstrumentFaceAmount_473899B7DC2EACA684E327BDC9270025_terseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentFaceAmount_473899B7DC2EACA684E327BDC9270025" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Face amount </link:label>

<link:label id="lab_us-gaap_DebtInstrumentFaceAmount_473899B7DC2EACA684E327BDC9270025_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentFaceAmount_473899B7DC2EACA684E327BDC9270025" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Debt Instrument, Face Amount </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_DebtInstrumentFaceAmount" xlink:label="loc_us-gaap_DebtInstrumentFaceAmount_473899B7DC2EACA684E327BDC9270025" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentFaceAmount_473899B7DC2EACA684E327BDC9270025" xlink:to="lab_us-gaap_DebtInstrumentFaceAmount_473899B7DC2EACA684E327BDC9270025" xlink:type="arc"/>

<link:label id="lab_cit_AdditionalPremiumToPurchasePrice_F828F84340340B62847227BDC927F69B_terseLabel_en-US" xlink:label="lab_cit_AdditionalPremiumToPurchasePrice_F828F84340340B62847227BDC927F69B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Aggregate premium </link:label>

<link:label id="lab_cit_AdditionalPremiumToPurchasePrice_F828F84340340B62847227BDC927F69B_label_en-US" xlink:label="lab_cit_AdditionalPremiumToPurchasePrice_F828F84340340B62847227BDC927F69B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Additional Premium To Purchase Price </link:label>

<link:label id="lab_cit_AdditionalPremiumToPurchasePrice_F828F84340340B62847227BDC927F69B_documentation_en-US" xlink:label="lab_cit_AdditionalPremiumToPurchasePrice_F828F84340340B62847227BDC927F69B" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Additional premium to purchase price. </link:label>

<link:loc xlink:href="cit-20180331.xsd#cit_AdditionalPremiumToPurchasePrice" xlink:label="loc_cit_AdditionalPremiumToPurchasePrice_F828F84340340B62847227BDC927F69B" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cit_AdditionalPremiumToPurchasePrice_F828F84340340B62847227BDC927F69B" xlink:to="lab_cit_AdditionalPremiumToPurchasePrice_F828F84340340B62847227BDC927F69B" xlink:type="arc"/>

<link:label id="lab_cit_RepurchaseAllOrPortionOfNotesAtPurchasePrice_85C8FB215F7B4CBC45B627BDC92776D9_verboseLabel_en-US" xlink:label="lab_cit_RepurchaseAllOrPortionOfNotesAtPurchasePrice_85C8FB215F7B4CBC45B627BDC92776D9" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Senior unsecured notes, percent of purchase price to principal amount </link:label>

<link:label id="lab_cit_RepurchaseAllOrPortionOfNotesAtPurchasePrice_85C8FB215F7B4CBC45B627BDC92776D9_label_en-US" xlink:label="lab_cit_RepurchaseAllOrPortionOfNotesAtPurchasePrice_85C8FB215F7B4CBC45B627BDC92776D9" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Repurchase All Or Portion Of The Notes At Purchase Price </link:label>

<link:label id="lab_cit_RepurchaseAllOrPortionOfNotesAtPurchasePrice_85C8FB215F7B4CBC45B627BDC92776D9_documentation_en-US" xlink:label="lab_cit_RepurchaseAllOrPortionOfNotesAtPurchasePrice_85C8FB215F7B4CBC45B627BDC92776D9" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Repurchase All Or Portion Of The Notes At Purchase Price </link:label>

<link:loc xlink:href="cit-20180331.xsd#cit_RepurchaseAllOrPortionOfNotesAtPurchasePrice" xlink:label="loc_cit_RepurchaseAllOrPortionOfNotesAtPurchasePrice_85C8FB215F7B4CBC45B627BDC92776D9" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cit_RepurchaseAllOrPortionOfNotesAtPurchasePrice_85C8FB215F7B4CBC45B627BDC92776D9" xlink:to="lab_cit_RepurchaseAllOrPortionOfNotesAtPurchasePrice_85C8FB215F7B4CBC45B627BDC92776D9" xlink:type="arc"/>

<link:label id="lab_us-gaap_DebtInstrumentCarryingAmount_29116C59211018EEF82327BDC927CD4C_terseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentCarryingAmount_29116C59211018EEF82327BDC927CD4C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Carrying value </link:label>

<link:label id="lab_us-gaap_DebtInstrumentCarryingAmount_29116C59211018EEF82327BDC927CD4C_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentCarryingAmount_29116C59211018EEF82327BDC927CD4C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Long-term Debt, Gross </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_DebtInstrumentCarryingAmount" xlink:label="loc_us-gaap_DebtInstrumentCarryingAmount_29116C59211018EEF82327BDC927CD4C" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentCarryingAmount_29116C59211018EEF82327BDC927CD4C" xlink:to="lab_us-gaap_DebtInstrumentCarryingAmount_29116C59211018EEF82327BDC927CD4C" xlink:type="arc"/>

<link:label id="lab_cit_PledgedAssets_1F3D9C8DC7B2112605C227BDC9274B61_terseLabel_en-US" xlink:label="lab_cit_PledgedAssets_1F3D9C8DC7B2112605C227BDC9274B61" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Pledged assets </link:label>

<link:label id="lab_cit_PledgedAssets_1F3D9C8DC7B2112605C227BDC9274B61_label_en-US" xlink:label="lab_cit_PledgedAssets_1F3D9C8DC7B2112605C227BDC9274B61" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Pledged Assets </link:label>

<link:label id="lab_cit_PledgedAssets_1F3D9C8DC7B2112605C227BDC9274B61_documentation_en-US" xlink:label="lab_cit_PledgedAssets_1F3D9C8DC7B2112605C227BDC9274B61" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Pledged Assets </link:label>

<link:loc xlink:href="cit-20180331.xsd#cit_PledgedAssets" xlink:label="loc_cit_PledgedAssets_1F3D9C8DC7B2112605C227BDC9274B61" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cit_PledgedAssets_1F3D9C8DC7B2112605C227BDC9274B61" xlink:to="lab_cit_PledgedAssets_1F3D9C8DC7B2112605C227BDC9274B61" xlink:type="arc"/>

<link:label id="lab_us-gaap_DebtInstrumentCollateralAmount_B1B7CA95585EF344E00927BDC92737F7_terseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentCollateralAmount_B1B7CA95585EF344E00927BDC92737F7" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Collateral specifically identified and used to calculate available borrowings </link:label>

<link:label id="lab_us-gaap_DebtInstrumentCollateralAmount_B1B7CA95585EF344E00927BDC92737F7_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentCollateralAmount_B1B7CA95585EF344E00927BDC92737F7" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Debt Instrument, Collateral Amount </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_DebtInstrumentCollateralAmount" xlink:label="loc_us-gaap_DebtInstrumentCollateralAmount_B1B7CA95585EF344E00927BDC92737F7" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentCollateralAmount_B1B7CA95585EF344E00927BDC92737F7" xlink:to="lab_us-gaap_DebtInstrumentCollateralAmount_B1B7CA95585EF344E00927BDC92737F7" xlink:type="arc"/>

<link:label id="lab_us-gaap_PledgedFinancialInstrumentsNotSeparatelyReportedLoansReceivablePledgedAsCollateral_4937B68B1E4827EA62DD27BDC927181E_terseLabel_en-US" xlink:label="lab_us-gaap_PledgedFinancialInstrumentsNotSeparatelyReportedLoansReceivablePledgedAsCollateral_4937B68B1E4827EA62DD27BDC927181E" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Pledged assets, loans </link:label>

<link:label id="lab_us-gaap_PledgedFinancialInstrumentsNotSeparatelyReportedLoansReceivablePledgedAsCollateral_4937B68B1E4827EA62DD27BDC927181E_label_en-US" xlink:label="lab_us-gaap_PledgedFinancialInstrumentsNotSeparatelyReportedLoansReceivablePledgedAsCollateral_4937B68B1E4827EA62DD27BDC927181E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Pledged Financial Instruments, Not Separately Reported, Loans Receivable Pledged as Collateral </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_PledgedFinancialInstrumentsNotSeparatelyReportedLoansReceivablePledgedAsCollateral" xlink:label="loc_us-gaap_PledgedFinancialInstrumentsNotSeparatelyReportedLoansReceivablePledgedAsCollateral_4937B68B1E4827EA62DD27BDC927181E" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PledgedFinancialInstrumentsNotSeparatelyReportedLoansReceivablePledgedAsCollateral_4937B68B1E4827EA62DD27BDC927181E" xlink:to="lab_us-gaap_PledgedFinancialInstrumentsNotSeparatelyReportedLoansReceivablePledgedAsCollateral_4937B68B1E4827EA62DD27BDC927181E" xlink:type="arc"/>

<link:label id="lab_cit_PledgedAssetsOperatingLeaseAssets_19C04FA3E34DE037B70627BDC928C6A0_terseLabel_en-US" xlink:label="lab_cit_PledgedAssetsOperatingLeaseAssets_19C04FA3E34DE037B70627BDC928C6A0" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Pledged assets, operating lease assets </link:label>

<link:label id="lab_cit_PledgedAssetsOperatingLeaseAssets_19C04FA3E34DE037B70627BDC928C6A0_label_en-US" xlink:label="lab_cit_PledgedAssetsOperatingLeaseAssets_19C04FA3E34DE037B70627BDC928C6A0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Pledged assets, operating lease assets </link:label>

<link:label id="lab_cit_PledgedAssetsOperatingLeaseAssets_19C04FA3E34DE037B70627BDC928C6A0_documentation_en-US" xlink:label="lab_cit_PledgedAssetsOperatingLeaseAssets_19C04FA3E34DE037B70627BDC928C6A0" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Pledged Assets, Operating Lease Assets </link:label>

<link:loc xlink:href="cit-20180331.xsd#cit_PledgedAssetsOperatingLeaseAssets" xlink:label="loc_cit_PledgedAssetsOperatingLeaseAssets_19C04FA3E34DE037B70627BDC928C6A0" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cit_PledgedAssetsOperatingLeaseAssets_19C04FA3E34DE037B70627BDC928C6A0" xlink:to="lab_cit_PledgedAssetsOperatingLeaseAssets_19C04FA3E34DE037B70627BDC928C6A0" xlink:type="arc"/>

<link:label id="lab_cit_PledgedAssetsCash_51C98D9F8A5960C8F45927BDC928F3BE_terseLabel_en-US" xlink:label="lab_cit_PledgedAssetsCash_51C98D9F8A5960C8F45927BDC928F3BE" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Pledged assets, cash </link:label>

<link:label id="lab_cit_PledgedAssetsCash_51C98D9F8A5960C8F45927BDC928F3BE_label_en-US" xlink:label="lab_cit_PledgedAssetsCash_51C98D9F8A5960C8F45927BDC928F3BE" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Pledged Assets, Cash </link:label>

<link:label id="lab_cit_PledgedAssetsCash_51C98D9F8A5960C8F45927BDC928F3BE_documentation_en-US" xlink:label="lab_cit_PledgedAssetsCash_51C98D9F8A5960C8F45927BDC928F3BE" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Pledged Assets, Cash </link:label>

<link:loc xlink:href="cit-20180331.xsd#cit_PledgedAssetsCash" xlink:label="loc_cit_PledgedAssetsCash_51C98D9F8A5960C8F45927BDC928F3BE" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cit_PledgedAssetsCash_51C98D9F8A5960C8F45927BDC928F3BE" xlink:to="lab_cit_PledgedAssetsCash_51C98D9F8A5960C8F45927BDC928F3BE" xlink:type="arc"/>

<link:label id="lab_us-gaap_PledgedFinancialInstrumentsNotSeparatelyReportedSecuritiesPledged_4DAEAB2B8927252BC08627BDC9288C09_terseLabel_en-US" xlink:label="lab_us-gaap_PledgedFinancialInstrumentsNotSeparatelyReportedSecuritiesPledged_4DAEAB2B8927252BC08627BDC9288C09" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Pledged assets, investments </link:label>

<link:label id="lab_us-gaap_PledgedFinancialInstrumentsNotSeparatelyReportedSecuritiesPledged_4DAEAB2B8927252BC08627BDC9288C09_label_en-US" xlink:label="lab_us-gaap_PledgedFinancialInstrumentsNotSeparatelyReportedSecuritiesPledged_4DAEAB2B8927252BC08627BDC9288C09" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Pledged Financial Instruments, Not Separately Reported, Securities </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_PledgedFinancialInstrumentsNotSeparatelyReportedSecuritiesPledged" xlink:label="loc_us-gaap_PledgedFinancialInstrumentsNotSeparatelyReportedSecuritiesPledged_4DAEAB2B8927252BC08627BDC9288C09" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PledgedFinancialInstrumentsNotSeparatelyReportedSecuritiesPledged_4DAEAB2B8927252BC08627BDC9288C09" xlink:to="lab_us-gaap_PledgedFinancialInstrumentsNotSeparatelyReportedSecuritiesPledged_4DAEAB2B8927252BC08627BDC9288C09" xlink:type="arc"/>

<link:label id="lab_us-gaap_FederalHomeLoanBankAdvancesGeneralDebtObligationsDisclosuresMaximumAmountAvailable_450E3A2A4681AA10A0C327BDC928B80E_verboseLabel_en-US" xlink:label="lab_us-gaap_FederalHomeLoanBankAdvancesGeneralDebtObligationsDisclosuresMaximumAmountAvailable_450E3A2A4681AA10A0C327BDC928B80E" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> FHLB advances, financing availability </link:label>

<link:label id="lab_us-gaap_FederalHomeLoanBankAdvancesGeneralDebtObligationsDisclosuresMaximumAmountAvailable_450E3A2A4681AA10A0C327BDC928B80E_label_en-US" xlink:label="lab_us-gaap_FederalHomeLoanBankAdvancesGeneralDebtObligationsDisclosuresMaximumAmountAvailable_450E3A2A4681AA10A0C327BDC928B80E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Federal Home Loan Bank, Advances, General Debt Obligations, Maximum Amount Available </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_FederalHomeLoanBankAdvancesGeneralDebtObligationsDisclosuresMaximumAmountAvailable" xlink:label="loc_us-gaap_FederalHomeLoanBankAdvancesGeneralDebtObligationsDisclosuresMaximumAmountAvailable_450E3A2A4681AA10A0C327BDC928B80E" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FederalHomeLoanBankAdvancesGeneralDebtObligationsDisclosuresMaximumAmountAvailable_450E3A2A4681AA10A0C327BDC928B80E" xlink:to="lab_us-gaap_FederalHomeLoanBankAdvancesGeneralDebtObligationsDisclosuresMaximumAmountAvailable_450E3A2A4681AA10A0C327BDC928B80E" xlink:type="arc"/>

<link:label id="lab_us-gaap_FederalHomeLoanBankAdvancesGeneralDebtObligationsDisclosuresAmountOfAvailableUnusedFunds_E097430DDDD4B920375F27BDC928B8D2_verboseLabel_en-US" xlink:label="lab_us-gaap_FederalHomeLoanBankAdvancesGeneralDebtObligationsDisclosuresAmountOfAvailableUnusedFunds_E097430DDDD4B920375F27BDC928B8D2" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> FHLB advances, unused and available </link:label>

<link:label id="lab_us-gaap_FederalHomeLoanBankAdvancesGeneralDebtObligationsDisclosuresAmountOfAvailableUnusedFunds_E097430DDDD4B920375F27BDC928B8D2_label_en-US" xlink:label="lab_us-gaap_FederalHomeLoanBankAdvancesGeneralDebtObligationsDisclosuresAmountOfAvailableUnusedFunds_E097430DDDD4B920375F27BDC928B8D2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Federal Home Loan Bank, Advances, General Debt Obligations, Amount of Available, Unused Funds </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_FederalHomeLoanBankAdvancesGeneralDebtObligationsDisclosuresAmountOfAvailableUnusedFunds" xlink:label="loc_us-gaap_FederalHomeLoanBankAdvancesGeneralDebtObligationsDisclosuresAmountOfAvailableUnusedFunds_E097430DDDD4B920375F27BDC928B8D2" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FederalHomeLoanBankAdvancesGeneralDebtObligationsDisclosuresAmountOfAvailableUnusedFunds_E097430DDDD4B920375F27BDC928B8D2" xlink:to="lab_us-gaap_FederalHomeLoanBankAdvancesGeneralDebtObligationsDisclosuresAmountOfAvailableUnusedFunds_E097430DDDD4B920375F27BDC928B8D2" xlink:type="arc"/>

<link:label id="lab_us-gaap_AdvancesFromFederalHomeLoanBanks_9A0A9046F309D4438E1827BDC9284C1F_terseLabel_en-US" xlink:label="lab_us-gaap_AdvancesFromFederalHomeLoanBanks_9A0A9046F309D4438E1827BDC9284C1F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> FHLB advances, utilized for issuance of letters of credit </link:label>

<link:label id="lab_us-gaap_AdvancesFromFederalHomeLoanBanks_9A0A9046F309D4438E1827BDC9284C1F_label_en-US" xlink:label="lab_us-gaap_AdvancesFromFederalHomeLoanBanks_9A0A9046F309D4438E1827BDC9284C1F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Advances from Federal Home Loan Banks </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_AdvancesFromFederalHomeLoanBanks" xlink:label="loc_us-gaap_AdvancesFromFederalHomeLoanBanks_9A0A9046F309D4438E1827BDC9284C1F" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AdvancesFromFederalHomeLoanBanks_9A0A9046F309D4438E1827BDC9284C1F" xlink:to="lab_us-gaap_AdvancesFromFederalHomeLoanBanks_9A0A9046F309D4438E1827BDC9284C1F" xlink:type="arc"/>

<link:label id="lab_us-gaap_FederalHomeLoanBankAdvancesGeneralDebtObligationsDisclosuresInterestRateAtPeriodEnd_28010C6422BB14D2E9B027BDC928613C_verboseLabel_en-US" xlink:label="lab_us-gaap_FederalHomeLoanBankAdvancesGeneralDebtObligationsDisclosuresInterestRateAtPeriodEnd_28010C6422BB14D2E9B027BDC928613C" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> FHLB advances, weighted average percentage rate </link:label>

<link:label id="lab_us-gaap_FederalHomeLoanBankAdvancesGeneralDebtObligationsDisclosuresInterestRateAtPeriodEnd_28010C6422BB14D2E9B027BDC928613C_label_en-US" xlink:label="lab_us-gaap_FederalHomeLoanBankAdvancesGeneralDebtObligationsDisclosuresInterestRateAtPeriodEnd_28010C6422BB14D2E9B027BDC928613C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Federal Home Loan Bank, Advances, General Debt Obligations, Disclosures, Interest Rate at Period End </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_FederalHomeLoanBankAdvancesGeneralDebtObligationsDisclosuresInterestRateAtPeriodEnd" xlink:label="loc_us-gaap_FederalHomeLoanBankAdvancesGeneralDebtObligationsDisclosuresInterestRateAtPeriodEnd_28010C6422BB14D2E9B027BDC928613C" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FederalHomeLoanBankAdvancesGeneralDebtObligationsDisclosuresInterestRateAtPeriodEnd_28010C6422BB14D2E9B027BDC928613C" xlink:to="lab_us-gaap_FederalHomeLoanBankAdvancesGeneralDebtObligationsDisclosuresInterestRateAtPeriodEnd_28010C6422BB14D2E9B027BDC928613C" xlink:type="arc"/>

<link:label id="lab_us-gaap_LongtermDebtWeightedAverageInterestRate_1B4589ABCB4BA987E62527BDC928966E_verboseLabel_en-US" xlink:label="lab_us-gaap_LongtermDebtWeightedAverageInterestRate_1B4589ABCB4BA987E62527BDC928966E" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Secured borrowings, weighted average percentage rate </link:label>

<link:label id="lab_us-gaap_LongtermDebtWeightedAverageInterestRate_1B4589ABCB4BA987E62527BDC928966E_label_en-US" xlink:label="lab_us-gaap_LongtermDebtWeightedAverageInterestRate_1B4589ABCB4BA987E62527BDC928966E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Long-term Debt, Weighted Average Interest Rate, at Point in Time </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_LongtermDebtWeightedAverageInterestRate" xlink:label="loc_us-gaap_LongtermDebtWeightedAverageInterestRate_1B4589ABCB4BA987E62527BDC928966E" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LongtermDebtWeightedAverageInterestRate_1B4589ABCB4BA987E62527BDC928966E" xlink:to="lab_us-gaap_LongtermDebtWeightedAverageInterestRate_1B4589ABCB4BA987E62527BDC928966E" xlink:type="arc"/>

<link:label id="lab_us-gaap_SecuredDebt_85738C700048CBBCB7F627BDC9285769_verboseLabel_en-US" xlink:label="lab_us-gaap_SecuredDebt_85738C700048CBBCB7F627BDC9285769" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Secured borrowings </link:label>

<link:label id="lab_us-gaap_SecuredDebt_85738C700048CBBCB7F627BDC9285769_label_en-US" xlink:label="lab_us-gaap_SecuredDebt_85738C700048CBBCB7F627BDC9285769" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Secured Debt </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_SecuredDebt" xlink:label="loc_us-gaap_SecuredDebt_85738C700048CBBCB7F627BDC9285769" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SecuredDebt_85738C700048CBBCB7F627BDC9285769" xlink:to="lab_us-gaap_SecuredDebt_85738C700048CBBCB7F627BDC9285769" xlink:type="arc"/>

<link:label id="lab_us-gaap_PurchaseCommitmentExcludingLongtermCommitmentTable_5546562C21B5E36EFC571D8FAE6ECC3E_terseLabel_en-US" xlink:label="lab_us-gaap_PurchaseCommitmentExcludingLongtermCommitmentTable_5546562C21B5E36EFC571D8FAE6ECC3E" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Purchase Commitment, Excluding Long-term Commitment [Table] </link:label>

<link:label id="lab_us-gaap_PurchaseCommitmentExcludingLongtermCommitmentTable_5546562C21B5E36EFC571D8FAE6ECC3E_label_en-US" xlink:label="lab_us-gaap_PurchaseCommitmentExcludingLongtermCommitmentTable_5546562C21B5E36EFC571D8FAE6ECC3E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Purchase Commitment, Excluding Long-term Commitment [Table] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_PurchaseCommitmentExcludingLongtermCommitmentTable" xlink:label="loc_us-gaap_PurchaseCommitmentExcludingLongtermCommitmentTable_5546562C21B5E36EFC571D8FAE6ECC3E" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PurchaseCommitmentExcludingLongtermCommitmentTable_5546562C21B5E36EFC571D8FAE6ECC3E" xlink:to="lab_us-gaap_PurchaseCommitmentExcludingLongtermCommitmentTable_5546562C21B5E36EFC571D8FAE6ECC3E" xlink:type="arc"/>

<link:label id="lab_cit_ErrorRelatedtoUndrawnFinancingCommitmentsMember_ABF9F997C21F9D4838F01D8FAE6EC973_terseLabel_en-US" xlink:label="lab_cit_ErrorRelatedtoUndrawnFinancingCommitmentsMember_ABF9F997C21F9D4838F01D8FAE6EC973" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Error Related to Undrawn Financing Commitments </link:label>

<link:label id="lab_cit_ErrorRelatedtoUndrawnFinancingCommitmentsMember_ABF9F997C21F9D4838F01D8FAE6EC973_label_en-US" xlink:label="lab_cit_ErrorRelatedtoUndrawnFinancingCommitmentsMember_ABF9F997C21F9D4838F01D8FAE6EC973" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Error Related to Undrawn Financing Commitments [Member] </link:label>

<link:label id="lab_cit_ErrorRelatedtoUndrawnFinancingCommitmentsMember_ABF9F997C21F9D4838F01D8FAE6EC973_documentation_en-US" xlink:label="lab_cit_ErrorRelatedtoUndrawnFinancingCommitmentsMember_ABF9F997C21F9D4838F01D8FAE6EC973" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Error Related to Undrawn Financing Commitments [Member] </link:label>

<link:loc xlink:href="cit-20180331.xsd#cit_ErrorRelatedtoUndrawnFinancingCommitmentsMember" xlink:label="loc_cit_ErrorRelatedtoUndrawnFinancingCommitmentsMember_ABF9F997C21F9D4838F01D8FAE6EC973" xlink:type="locator"/>

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<link:label id="lab_us-gaap_PurchaseCommitmentExcludingLongtermCommitmentAxis_3079E39CFBE7B61E49FA1D8FAE742B19_terseLabel_en-US" xlink:label="lab_us-gaap_PurchaseCommitmentExcludingLongtermCommitmentAxis_3079E39CFBE7B61E49FA1D8FAE742B19" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Purchase Commitment, Excluding Long-term Commitment [Axis] </link:label>

<link:label id="lab_us-gaap_PurchaseCommitmentExcludingLongtermCommitmentAxis_3079E39CFBE7B61E49FA1D8FAE742B19_label_en-US" xlink:label="lab_us-gaap_PurchaseCommitmentExcludingLongtermCommitmentAxis_3079E39CFBE7B61E49FA1D8FAE742B19" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Purchase Commitment, Excluding Long-term Commitment [Axis] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_PurchaseCommitmentExcludingLongtermCommitmentAxis" xlink:label="loc_us-gaap_PurchaseCommitmentExcludingLongtermCommitmentAxis_3079E39CFBE7B61E49FA1D8FAE742B19" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PurchaseCommitmentExcludingLongtermCommitmentAxis_3079E39CFBE7B61E49FA1D8FAE742B19" xlink:to="lab_us-gaap_PurchaseCommitmentExcludingLongtermCommitmentAxis_3079E39CFBE7B61E49FA1D8FAE742B19" xlink:type="arc"/>

<link:label id="lab_us-gaap_PurchaseCommitmentExcludingLongtermCommitmentDomain_1DD80C2F991FB5B42B2A1D8FAE75AEC3_terseLabel_en-US" xlink:label="lab_us-gaap_PurchaseCommitmentExcludingLongtermCommitmentDomain_1DD80C2F991FB5B42B2A1D8FAE75AEC3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Significant Purchase and Supply Commitment, Excluding Long-term Commitment, Type [Domain] </link:label>

<link:label id="lab_us-gaap_PurchaseCommitmentExcludingLongtermCommitmentDomain_1DD80C2F991FB5B42B2A1D8FAE75AEC3_label_en-US" xlink:label="lab_us-gaap_PurchaseCommitmentExcludingLongtermCommitmentDomain_1DD80C2F991FB5B42B2A1D8FAE75AEC3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Purchase Commitment, Excluding Long-term Commitment [Domain] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_PurchaseCommitmentExcludingLongtermCommitmentDomain" xlink:label="loc_us-gaap_PurchaseCommitmentExcludingLongtermCommitmentDomain_1DD80C2F991FB5B42B2A1D8FAE75AEC3" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PurchaseCommitmentExcludingLongtermCommitmentDomain_1DD80C2F991FB5B42B2A1D8FAE75AEC3" xlink:to="lab_us-gaap_PurchaseCommitmentExcludingLongtermCommitmentDomain_1DD80C2F991FB5B42B2A1D8FAE75AEC3" xlink:type="arc"/>

<link:label id="lab_cit_DeferredPurchaseAgreementsMember_ECF8324050B165DF29091D8FAE75C5C0_terseLabel_en-US" xlink:label="lab_cit_DeferredPurchaseAgreementsMember_ECF8324050B165DF29091D8FAE75C5C0" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Deferred Purchase Agreements </link:label>

<link:label id="lab_cit_DeferredPurchaseAgreementsMember_ECF8324050B165DF29091D8FAE75C5C0_label_en-US" xlink:label="lab_cit_DeferredPurchaseAgreementsMember_ECF8324050B165DF29091D8FAE75C5C0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Deferred Purchase Agreements [Member] </link:label>

<link:label id="lab_cit_DeferredPurchaseAgreementsMember_ECF8324050B165DF29091D8FAE75C5C0_documentation_en-US" xlink:label="lab_cit_DeferredPurchaseAgreementsMember_ECF8324050B165DF29091D8FAE75C5C0" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Deferred Purchase Agreements [Member] </link:label>

<link:loc xlink:href="cit-20180331.xsd#cit_DeferredPurchaseAgreementsMember" xlink:label="loc_cit_DeferredPurchaseAgreementsMember_ECF8324050B165DF29091D8FAE75C5C0" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cit_DeferredPurchaseAgreementsMember_ECF8324050B165DF29091D8FAE75C5C0" xlink:to="lab_cit_DeferredPurchaseAgreementsMember_ECF8324050B165DF29091D8FAE75C5C0" xlink:type="arc"/>

<link:label id="lab_cit_RailcarsRemainingToBePurchasedUnderExistingCommitmentsMember_A12BC71C27DC84E933DE1D8FAE757B22_terseLabel_en-US" xlink:label="lab_cit_RailcarsRemainingToBePurchasedUnderExistingCommitmentsMember_A12BC71C27DC84E933DE1D8FAE757B22" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Purchase Commitments </link:label>

<link:label id="lab_cit_RailcarsRemainingToBePurchasedUnderExistingCommitmentsMember_A12BC71C27DC84E933DE1D8FAE757B22_label_en-US" xlink:label="lab_cit_RailcarsRemainingToBePurchasedUnderExistingCommitmentsMember_A12BC71C27DC84E933DE1D8FAE757B22" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Railcars Remaining To Be Purchased Under Existing Commitments [Member] </link:label>

<link:label id="lab_cit_RailcarsRemainingToBePurchasedUnderExistingCommitmentsMember_A12BC71C27DC84E933DE1D8FAE757B22_documentation_en-US" xlink:label="lab_cit_RailcarsRemainingToBePurchasedUnderExistingCommitmentsMember_A12BC71C27DC84E933DE1D8FAE757B22" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Railcars Remaining To Be Purchased Under Existing Commitments [Member] </link:label>

<link:loc xlink:href="cit-20180331.xsd#cit_RailcarsRemainingToBePurchasedUnderExistingCommitmentsMember" xlink:label="loc_cit_RailcarsRemainingToBePurchasedUnderExistingCommitmentsMember_A12BC71C27DC84E933DE1D8FAE757B22" xlink:type="locator"/>

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<link:label id="lab_cit_CommitmentsLineItems_BF7417264ACA937705BE1D8FAE750866_terseLabel_en-US" xlink:label="lab_cit_CommitmentsLineItems_BF7417264ACA937705BE1D8FAE750866" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Commitments [Line Items] </link:label>

<link:label id="lab_cit_CommitmentsLineItems_BF7417264ACA937705BE1D8FAE750866_label_en-US" xlink:label="lab_cit_CommitmentsLineItems_BF7417264ACA937705BE1D8FAE750866" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Commitments [Line Items] </link:label>

<link:label id="lab_cit_CommitmentsLineItems_BF7417264ACA937705BE1D8FAE750866_documentation_en-US" xlink:label="lab_cit_CommitmentsLineItems_BF7417264ACA937705BE1D8FAE750866" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Commitments line Items </link:label>

<link:loc xlink:href="cit-20180331.xsd#cit_CommitmentsLineItems" xlink:label="loc_cit_CommitmentsLineItems_BF7417264ACA937705BE1D8FAE750866" xlink:type="locator"/>

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<link:label id="lab_us-gaap_LongTermPurchaseCommitmentAmount_30F6D4902953FDBAFB4A1D8FAE75BEA5_terseLabel_en-US" xlink:label="lab_us-gaap_LongTermPurchaseCommitmentAmount_30F6D4902953FDBAFB4A1D8FAE75BEA5" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Financing commitments </link:label>

<link:label id="lab_us-gaap_LongTermPurchaseCommitmentAmount_30F6D4902953FDBAFB4A1D8FAE75BEA5_label_en-US" xlink:label="lab_us-gaap_LongTermPurchaseCommitmentAmount_30F6D4902953FDBAFB4A1D8FAE75BEA5" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Long-term Purchase Commitment, Amount </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_LongTermPurchaseCommitmentAmount" xlink:label="loc_us-gaap_LongTermPurchaseCommitmentAmount_30F6D4902953FDBAFB4A1D8FAE75BEA5" xlink:type="locator"/>

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<link:label id="lab_cit_FinancingCommitmentsToTradeFinanceClientsThatAreCancelableOnlyAfterANoticePeriodTypicalNoticePeriod_66DDE88DA8AE461921081D8FAE750712_terseLabel_en-US" xlink:label="lab_cit_FinancingCommitmentsToTradeFinanceClientsThatAreCancelableOnlyAfterANoticePeriodTypicalNoticePeriod_66DDE88DA8AE461921081D8FAE750712" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Typical notice period </link:label>

<link:label id="lab_cit_FinancingCommitmentsToTradeFinanceClientsThatAreCancelableOnlyAfterANoticePeriodTypicalNoticePeriod_66DDE88DA8AE461921081D8FAE750712_label_en-US" xlink:label="lab_cit_FinancingCommitmentsToTradeFinanceClientsThatAreCancelableOnlyAfterANoticePeriodTypicalNoticePeriod_66DDE88DA8AE461921081D8FAE750712" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Financing Commitments To Trade Finance Clients That Are Cancelable Only After A Notice Period, Typical Notice Period </link:label>

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<link:label id="lab_cit_FinancingCommitmentsToTradeFinanceClientsThatAreCancelableOnlyAfterANoticePeriodAmount_DCDC4DFB877866B45AB81D8FAE7625B4_label_en-US" xlink:label="lab_cit_FinancingCommitmentsToTradeFinanceClientsThatAreCancelableOnlyAfterANoticePeriodAmount_DCDC4DFB877866B45AB81D8FAE7625B4" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Financing Commitments To Trade Finance Clients That Are Cancelable Only After A Notice Period, Amount </link:label>

<link:label id="lab_cit_FinancingCommitmentsToTradeFinanceClientsThatAreCancelableOnlyAfterANoticePeriodAmount_DCDC4DFB877866B45AB81D8FAE7625B4_documentation_en-US" xlink:label="lab_cit_FinancingCommitmentsToTradeFinanceClientsThatAreCancelableOnlyAfterANoticePeriodAmount_DCDC4DFB877866B45AB81D8FAE7625B4" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Financing Commitments To Trade Finance Clients That Are Cancelable Only After A Notice Period, Amount </link:label>

<link:loc xlink:href="cit-20180331.xsd#cit_FinancingCommitmentsToTradeFinanceClientsThatAreCancelableOnlyAfterANoticePeriodAmount" xlink:label="loc_cit_FinancingCommitmentsToTradeFinanceClientsThatAreCancelableOnlyAfterANoticePeriodAmount_DCDC4DFB877866B45AB81D8FAE7625B4" xlink:type="locator"/>

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<link:label id="lab_cit_FinancingCommitmentsWithNoContractualObligationToLend_3BEE30549FE3207E94161D8FAE76ECF9_terseLabel_en-US" xlink:label="lab_cit_FinancingCommitmentsWithNoContractualObligationToLend_3BEE30549FE3207E94161D8FAE76ECF9" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Additional funding commitments </link:label>

<link:label id="lab_cit_FinancingCommitmentsWithNoContractualObligationToLend_3BEE30549FE3207E94161D8FAE76ECF9_label_en-US" xlink:label="lab_cit_FinancingCommitmentsWithNoContractualObligationToLend_3BEE30549FE3207E94161D8FAE76ECF9" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Financing Commitments With No Contractual Obligation To Lend </link:label>

<link:label id="lab_cit_FinancingCommitmentsWithNoContractualObligationToLend_3BEE30549FE3207E94161D8FAE76ECF9_documentation_en-US" xlink:label="lab_cit_FinancingCommitmentsWithNoContractualObligationToLend_3BEE30549FE3207E94161D8FAE76ECF9" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Financing Commitments With No Contractual Obligation To Lend </link:label>

<link:loc xlink:href="cit-20180331.xsd#cit_FinancingCommitmentsWithNoContractualObligationToLend" xlink:label="loc_cit_FinancingCommitmentsWithNoContractualObligationToLend_3BEE30549FE3207E94161D8FAE76ECF9" xlink:type="locator"/>

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<link:label id="lab_us-gaap_FDICIndemnificationAssetAdditionalEstimatedLosses_B54118AF0F41C650CBCA1D8FAE765095_terseLabel_en-US" xlink:label="lab_us-gaap_FDICIndemnificationAssetAdditionalEstimatedLosses_B54118AF0F41C650CBCA1D8FAE765095" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Amount of indemnification for losses by FDIC </link:label>

<link:label id="lab_us-gaap_FDICIndemnificationAssetAdditionalEstimatedLosses_B54118AF0F41C650CBCA1D8FAE765095_label_en-US" xlink:label="lab_us-gaap_FDICIndemnificationAssetAdditionalEstimatedLosses_B54118AF0F41C650CBCA1D8FAE765095" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> FDIC Indemnification Asset, Additional Estimated Losses </link:label>

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<link:label id="lab_us-gaap_FDICIndemnificationAssetPeriodIncreaseDecrease_38A610C92E14D64C5F7C1D8FAE762FA1_terseLabel_en-US" xlink:label="lab_us-gaap_FDICIndemnificationAssetPeriodIncreaseDecrease_38A610C92E14D64C5F7C1D8FAE762FA1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Amount FDIC agreed to fund any other draws </link:label>

<link:label id="lab_us-gaap_FDICIndemnificationAssetPeriodIncreaseDecrease_38A610C92E14D64C5F7C1D8FAE762FA1_label_en-US" xlink:label="lab_us-gaap_FDICIndemnificationAssetPeriodIncreaseDecrease_38A610C92E14D64C5F7C1D8FAE762FA1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> FDIC Indemnification Asset, Period Increase (Decrease) </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_FDICIndemnificationAssetPeriodIncreaseDecrease" xlink:label="loc_us-gaap_FDICIndemnificationAssetPeriodIncreaseDecrease_38A610C92E14D64C5F7C1D8FAE762FA1" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FDICIndemnificationAssetPeriodIncreaseDecrease_38A610C92E14D64C5F7C1D8FAE762FA1" xlink:to="lab_us-gaap_FDICIndemnificationAssetPeriodIncreaseDecrease_38A610C92E14D64C5F7C1D8FAE762FA1" xlink:type="arc"/>

<link:label id="lab_cit_FDICIndemnificationAssetLossesIncurred_09DC3F2AF59650D61F821D8FAE76CC0A_terseLabel_en-US" xlink:label="lab_cit_FDICIndemnificationAssetLossesIncurred_09DC3F2AF59650D61F821D8FAE76CC0A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Losses incurred related to indemnification asset </link:label>

<link:label id="lab_cit_FDICIndemnificationAssetLossesIncurred_09DC3F2AF59650D61F821D8FAE76CC0A_label_en-US" xlink:label="lab_cit_FDICIndemnificationAssetLossesIncurred_09DC3F2AF59650D61F821D8FAE76CC0A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> FDIC Indemnification Asset, Losses Incurred </link:label>

<link:label id="lab_cit_FDICIndemnificationAssetLossesIncurred_09DC3F2AF59650D61F821D8FAE76CC0A_documentation_en-US" xlink:label="lab_cit_FDICIndemnificationAssetLossesIncurred_09DC3F2AF59650D61F821D8FAE76CC0A" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> FDIC Indemnification Asset, Losses Incurred </link:label>

<link:loc xlink:href="cit-20180331.xsd#cit_FDICIndemnificationAssetLossesIncurred" xlink:label="loc_cit_FDICIndemnificationAssetLossesIncurred_09DC3F2AF59650D61F821D8FAE76CC0A" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cit_FDICIndemnificationAssetLossesIncurred_09DC3F2AF59650D61F821D8FAE76CC0A" xlink:to="lab_cit_FDICIndemnificationAssetLossesIncurred_09DC3F2AF59650D61F821D8FAE76CC0A" xlink:type="arc"/>

<link:label id="lab_cit_AmountRequiredForFundingReverseMortgages_5FFF5410430FE70896251D8FAE76B1F8_terseLabel_en-US" xlink:label="lab_cit_AmountRequiredForFundingReverseMortgages_5FFF5410430FE70896251D8FAE76B1F8" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> FDIC required funding amount of reverse mortgages </link:label>

<link:label id="lab_cit_AmountRequiredForFundingReverseMortgages_5FFF5410430FE70896251D8FAE76B1F8_label_en-US" xlink:label="lab_cit_AmountRequiredForFundingReverseMortgages_5FFF5410430FE70896251D8FAE76B1F8" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Amount Required For Funding Reverse Mortgages </link:label>

<link:label id="lab_cit_AmountRequiredForFundingReverseMortgages_5FFF5410430FE70896251D8FAE76B1F8_documentation_en-US" xlink:label="lab_cit_AmountRequiredForFundingReverseMortgages_5FFF5410430FE70896251D8FAE76B1F8" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Amount Required For Funding Reverse Mortgages </link:label>

<link:loc xlink:href="cit-20180331.xsd#cit_AmountRequiredForFundingReverseMortgages" xlink:label="loc_cit_AmountRequiredForFundingReverseMortgages_5FFF5410430FE70896251D8FAE76B1F8" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cit_AmountRequiredForFundingReverseMortgages_5FFF5410430FE70896251D8FAE76B1F8" xlink:to="lab_cit_AmountRequiredForFundingReverseMortgages_5FFF5410430FE70896251D8FAE76B1F8" xlink:type="arc"/>

<link:label id="lab_cit_DeferredPurchaseAgreementCreditProtectionAmountProvidedToClients_755E82982B384E8DFAB41D8FAE761C08_terseLabel_en-US" xlink:label="lab_cit_DeferredPurchaseAgreementCreditProtectionAmountProvidedToClients_755E82982B384E8DFAB41D8FAE761C08" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> DPA credit protection provided to clients </link:label>

<link:label id="lab_cit_DeferredPurchaseAgreementCreditProtectionAmountProvidedToClients_755E82982B384E8DFAB41D8FAE761C08_label_en-US" xlink:label="lab_cit_DeferredPurchaseAgreementCreditProtectionAmountProvidedToClients_755E82982B384E8DFAB41D8FAE761C08" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Deferred Purchase Agreement Credit Protection, Amount Provided To Clients </link:label>

<link:label id="lab_cit_DeferredPurchaseAgreementCreditProtectionAmountProvidedToClients_755E82982B384E8DFAB41D8FAE761C08_documentation_en-US" xlink:label="lab_cit_DeferredPurchaseAgreementCreditProtectionAmountProvidedToClients_755E82982B384E8DFAB41D8FAE761C08" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Deferred Purchase Agreement Credit Protection, Amount Provided To Clients. </link:label>

<link:loc xlink:href="cit-20180331.xsd#cit_DeferredPurchaseAgreementCreditProtectionAmountProvidedToClients" xlink:label="loc_cit_DeferredPurchaseAgreementCreditProtectionAmountProvidedToClients_755E82982B384E8DFAB41D8FAE761C08" xlink:type="locator"/>

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<link:label id="lab_cit_DeferredPurchaseAgreementsCreditLineAgreementsNetOfDeferredPurchaseAgreementCreditProtection_DA3CECD3B92124126D551D8FAE763485_terseLabel_en-US" xlink:label="lab_cit_DeferredPurchaseAgreementsCreditLineAgreementsNetOfDeferredPurchaseAgreementCreditProtection_DA3CECD3B92124126D551D8FAE763485" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> DPA credit line agreements net of deferred purchase agreement credit protection </link:label>

<link:label id="lab_cit_DeferredPurchaseAgreementsCreditLineAgreementsNetOfDeferredPurchaseAgreementCreditProtection_DA3CECD3B92124126D551D8FAE763485_label_en-US" xlink:label="lab_cit_DeferredPurchaseAgreementsCreditLineAgreementsNetOfDeferredPurchaseAgreementCreditProtection_DA3CECD3B92124126D551D8FAE763485" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Deferred Purchase Agreements, Credit Line Agreements Net Of Deferred Purchase Agreement Credit Protection </link:label>

<link:label id="lab_cit_DeferredPurchaseAgreementsCreditLineAgreementsNetOfDeferredPurchaseAgreementCreditProtection_DA3CECD3B92124126D551D8FAE763485_documentation_en-US" xlink:label="lab_cit_DeferredPurchaseAgreementsCreditLineAgreementsNetOfDeferredPurchaseAgreementCreditProtection_DA3CECD3B92124126D551D8FAE763485" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Deferred Purchase Agreements, Credit Line Agreements Net Of Deferred Purchase Agreement Credit Protection </link:label>

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<link:label id="lab_cit_DeferredPurchaseAgreementsCreditLineAgreementsCancellationNoticePeriod_F3C4D08A07143EE958E11D8FAE76F85D_terseLabel_en-US" xlink:label="lab_cit_DeferredPurchaseAgreementsCreditLineAgreementsCancellationNoticePeriod_F3C4D08A07143EE958E11D8FAE76F85D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> DPA credit line agreements, cancellation notice period </link:label>

<link:label id="lab_cit_DeferredPurchaseAgreementsCreditLineAgreementsCancellationNoticePeriod_F3C4D08A07143EE958E11D8FAE76F85D_label_en-US" xlink:label="lab_cit_DeferredPurchaseAgreementsCreditLineAgreementsCancellationNoticePeriod_F3C4D08A07143EE958E11D8FAE76F85D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Deferred Purchase Agreements, Credit Line Agreements, Cancellation Notice Period </link:label>

<link:label id="lab_cit_DeferredPurchaseAgreementsCreditLineAgreementsCancellationNoticePeriod_F3C4D08A07143EE958E11D8FAE76F85D_documentation_en-US" xlink:label="lab_cit_DeferredPurchaseAgreementsCreditLineAgreementsCancellationNoticePeriod_F3C4D08A07143EE958E11D8FAE76F85D" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Deferred Purchase Agreements, Credit Line Agreements, Cancellation Notice Period. </link:label>

<link:loc xlink:href="cit-20180331.xsd#cit_DeferredPurchaseAgreementsCreditLineAgreementsCancellationNoticePeriod" xlink:label="loc_cit_DeferredPurchaseAgreementsCreditLineAgreementsCancellationNoticePeriod_F3C4D08A07143EE958E11D8FAE76F85D" xlink:type="locator"/>

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<link:label id="lab_us-gaap_OtherLiabilities_FC6156E7C2E2020A76BE1D8FAE76BB18_verboseLabel_en-US" xlink:label="lab_us-gaap_OtherLiabilities_FC6156E7C2E2020A76BE1D8FAE76BB18" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Other liabilities </link:label>

<link:label id="lab_us-gaap_OtherLiabilities_FC6156E7C2E2020A76BE1D8FAE76BB18_label_en-US" xlink:label="lab_us-gaap_OtherLiabilities_FC6156E7C2E2020A76BE1D8FAE76BB18" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Other Liabilities </link:label>

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<link:label id="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_7A0D562C75BF37CAEE2419A1E9C3397D_label_en-US" xlink:label="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_7A0D562C75BF37CAEE2419A1E9C3397D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Fair Value, Measurement with Unobservable Inputs Reconciliations, Recurring Basis, Liability Value </link:label>

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<link:label id="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedInEarnings_336035DEA5C3A5F5290019A1E9C3444B_negatedLabel_en-US" xlink:label="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedInEarnings_336035DEA5C3A5F5290019A1E9C3444B" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US"> Included in earnings </link:label>

<link:label id="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedInEarnings_336035DEA5C3A5F5290019A1E9C3444B_label_en-US" xlink:label="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedInEarnings_336035DEA5C3A5F5290019A1E9C3444B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Gain (Loss) Included in Earnings </link:label>

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<link:label id="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedInOtherComprehensiveIncome_80423C4AF195C6211A7319A1E9C31847_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedInOtherComprehensiveIncome_80423C4AF195C6211A7319A1E9C31847" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US"> Included in comprehensive income </link:label>

<link:label id="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedInOtherComprehensiveIncome_80423C4AF195C6211A7319A1E9C31847_label_en-US" xlink:label="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedInOtherComprehensiveIncome_80423C4AF195C6211A7319A1E9C31847" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Gain (Loss) Included in Other Comprehensive Income (Loss) </link:label>

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<link:label id="lab_cit_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityImpairment_683F30C2F7B30C8C08D519A1E9C349A3_terseLabel_en-US" xlink:label="lab_cit_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityImpairment_683F30C2F7B30C8C08D519A1E9C349A3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Impairment </link:label>

<link:label id="lab_cit_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityImpairment_683F30C2F7B30C8C08D519A1E9C349A3_label_en-US" xlink:label="lab_cit_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityImpairment_683F30C2F7B30C8C08D519A1E9C349A3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Impairment </link:label>

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<link:label id="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilitySettlements_0CF5379E3C923EC070A619A1E9C3C602_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilitySettlements_0CF5379E3C923EC070A619A1E9C3C602" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Sales, paydowns, and adjustments </link:label>

<link:label id="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilitySettlements_0CF5379E3C923EC070A619A1E9C3C602_label_en-US" xlink:label="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilitySettlements_0CF5379E3C923EC070A619A1E9C3C602" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Settlements </link:label>

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<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue" xlink:label="loc_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_A8983051B81C3F211B7819A1E9C34616" xlink:type="locator"/>

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<link:label id="lab_us-gaap_LoansNotesTradeAndOtherReceivablesDisclosureTextBlock_EA7DEDA4B76C559E3C1C071F701DDAE1_terseLabel_en-US" xlink:label="lab_us-gaap_LoansNotesTradeAndOtherReceivablesDisclosureTextBlock_8D9E7AB0EDF652E4A758A8B7D26A9B70" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> LOANS </link:label>

<link:label id="lab_us-gaap_LoansNotesTradeAndOtherReceivablesDisclosureTextBlock_EA7DEDA4B76C559E3C1C071F701DDAE1_label_en-US" xlink:label="lab_us-gaap_LoansNotesTradeAndOtherReceivablesDisclosureTextBlock_8D9E7AB0EDF652E4A758A8B7D26A9B70" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Loans, Notes, Trade and Other Receivables Disclosure [Text Block] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_LoansNotesTradeAndOtherReceivablesDisclosureTextBlock" xlink:label="loc_us-gaap_LoansNotesTradeAndOtherReceivablesDisclosureTextBlock_8D9E7AB0EDF652E4A758A8B7D26A9B70" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LoansNotesTradeAndOtherReceivablesDisclosureTextBlock_8D9E7AB0EDF652E4A758A8B7D26A9B70" xlink:to="lab_us-gaap_LoansNotesTradeAndOtherReceivablesDisclosureTextBlock_8D9E7AB0EDF652E4A758A8B7D26A9B70" xlink:type="arc"/>

<link:label id="lab_us-gaap_DisposalGroupIncludingDiscontinuedOperationCashAndCashEquivalents_7E5C304577F19AE5028123D83BCE763A_terseLabel_en-US" xlink:label="lab_us-gaap_DisposalGroupIncludingDiscontinuedOperationCashAndCashEquivalents_7E5C304577F19AE5028123D83BCE763A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Total cash and deposits </link:label>

<link:label id="lab_us-gaap_DisposalGroupIncludingDiscontinuedOperationCashAndCashEquivalents_7E5C304577F19AE5028123D83BCE763A_label_en-US" xlink:label="lab_us-gaap_DisposalGroupIncludingDiscontinuedOperationCashAndCashEquivalents_7E5C304577F19AE5028123D83BCE763A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Disposal Group, Including Discontinued Operation, Cash and Cash Equivalents </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_DisposalGroupIncludingDiscontinuedOperationCashAndCashEquivalents" xlink:label="loc_us-gaap_DisposalGroupIncludingDiscontinuedOperationCashAndCashEquivalents_7E5C304577F19AE5028123D83BCE763A" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DisposalGroupIncludingDiscontinuedOperationCashAndCashEquivalents_7E5C304577F19AE5028123D83BCE763A" xlink:to="lab_us-gaap_DisposalGroupIncludingDiscontinuedOperationCashAndCashEquivalents_7E5C304577F19AE5028123D83BCE763A" xlink:type="arc"/>

<link:label id="lab_us-gaap_DisposalGroupIncludingDiscontinuedOperationAccountsNotesAndLoansReceivableNet_AC710DCFD1373C35E26023D83BCE1C63_verboseLabel_en-US" xlink:label="lab_us-gaap_DisposalGroupIncludingDiscontinuedOperationAccountsNotesAndLoansReceivableNet_AC710DCFD1373C35E26023D83BCE1C63" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Net Loans </link:label>

<link:label id="lab_us-gaap_DisposalGroupIncludingDiscontinuedOperationAccountsNotesAndLoansReceivableNet_AC710DCFD1373C35E26023D83BCE1C63_label_en-US" xlink:label="lab_us-gaap_DisposalGroupIncludingDiscontinuedOperationAccountsNotesAndLoansReceivableNet_AC710DCFD1373C35E26023D83BCE1C63" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Disposal Group, Including Discontinued Operation, Accounts, Notes and Loans Receivable, Net </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_DisposalGroupIncludingDiscontinuedOperationAccountsNotesAndLoansReceivableNet" xlink:label="loc_us-gaap_DisposalGroupIncludingDiscontinuedOperationAccountsNotesAndLoansReceivableNet_AC710DCFD1373C35E26023D83BCE1C63" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DisposalGroupIncludingDiscontinuedOperationAccountsNotesAndLoansReceivableNet_AC710DCFD1373C35E26023D83BCE1C63" xlink:to="lab_us-gaap_DisposalGroupIncludingDiscontinuedOperationAccountsNotesAndLoansReceivableNet_AC710DCFD1373C35E26023D83BCE1C63" xlink:type="arc"/>

<link:label id="lab_cit_DisposalGroupIncludingDiscontinuedOperationOperatingLeaseEquipment_19A26E77E6308008A19023D83BCE95FE_netLabel_en-US" xlink:label="lab_cit_DisposalGroupIncludingDiscontinuedOperationOperatingLeaseEquipment_19A26E77E6308008A19023D83BCE95FE" xlink:role="http://www.xbrl.org/2009/role/netLabel" xlink:type="resource" xml:lang="en-US"> Operating lease equipment, net </link:label>

<link:label id="lab_cit_DisposalGroupIncludingDiscontinuedOperationOperatingLeaseEquipment_19A26E77E6308008A19023D83BCE95FE_label_en-US" xlink:label="lab_cit_DisposalGroupIncludingDiscontinuedOperationOperatingLeaseEquipment_19A26E77E6308008A19023D83BCE95FE" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Disposal Group, Including Discontinued Operation, Operating Lease Equipment </link:label>

<link:label id="lab_cit_DisposalGroupIncludingDiscontinuedOperationOperatingLeaseEquipment_19A26E77E6308008A19023D83BCE95FE_documentation_en-US" xlink:label="lab_cit_DisposalGroupIncludingDiscontinuedOperationOperatingLeaseEquipment_19A26E77E6308008A19023D83BCE95FE" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Amount classified as operating lease equipment attributable to disposal group. </link:label>

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<link:label id="lab_us-gaap_DisposalGroupIncludingDiscontinuedOperationOtherAssets_19851BCEF64D6DD38EDE23D83BCEBE65_terseLabel_en-US" xlink:label="lab_us-gaap_DisposalGroupIncludingDiscontinuedOperationOtherAssets_19851BCEF64D6DD38EDE23D83BCEBE65" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Other assets </link:label>

<link:label id="lab_us-gaap_DisposalGroupIncludingDiscontinuedOperationOtherAssets_19851BCEF64D6DD38EDE23D83BCEBE65_label_en-US" xlink:label="lab_us-gaap_DisposalGroupIncludingDiscontinuedOperationOtherAssets_19851BCEF64D6DD38EDE23D83BCEBE65" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Disposal Group, Including Discontinued Operation, Other Assets </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_DisposalGroupIncludingDiscontinuedOperationOtherAssets" xlink:label="loc_us-gaap_DisposalGroupIncludingDiscontinuedOperationOtherAssets_19851BCEF64D6DD38EDE23D83BCEBE65" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DisposalGroupIncludingDiscontinuedOperationOtherAssets_19851BCEF64D6DD38EDE23D83BCEBE65" xlink:to="lab_us-gaap_DisposalGroupIncludingDiscontinuedOperationOtherAssets_19851BCEF64D6DD38EDE23D83BCEBE65" xlink:type="arc"/>

<link:label id="lab_us-gaap_AssetsOfDisposalGroupIncludingDiscontinuedOperation_8BEF98ABC918119C0BC723D83BCE4BFE_totalLabel_en-US" xlink:label="lab_us-gaap_AssetsOfDisposalGroupIncludingDiscontinuedOperation_8BEF98ABC918119C0BC723D83BCE4BFE" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US"> Assets of discontinued operations </link:label>

<link:label id="lab_us-gaap_AssetsOfDisposalGroupIncludingDiscontinuedOperation_8BEF98ABC918119C0BC723D83BCE4BFE_label_en-US" xlink:label="lab_us-gaap_AssetsOfDisposalGroupIncludingDiscontinuedOperation_8BEF98ABC918119C0BC723D83BCE4BFE" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Disposal Group, Including Discontinued Operation, Assets </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_AssetsOfDisposalGroupIncludingDiscontinuedOperation" xlink:label="loc_us-gaap_AssetsOfDisposalGroupIncludingDiscontinuedOperation_8BEF98ABC918119C0BC723D83BCE4BFE" xlink:type="locator"/>

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<link:label id="lab_us-gaap_DisposalGroupIncludingDiscontinuedOperationAccountsPayableAndAccruedLiabilities_D56511CAB431A0D1510F23D83BCE8BB8_verboseLabel_en-US" xlink:label="lab_us-gaap_DisposalGroupIncludingDiscontinuedOperationAccountsPayableAndAccruedLiabilities_D56511CAB431A0D1510F23D83BCE8BB8" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Secured borrowings </link:label>

<link:label id="lab_us-gaap_DisposalGroupIncludingDiscontinuedOperationAccountsPayableAndAccruedLiabilities_D56511CAB431A0D1510F23D83BCE8BB8_label_en-US" xlink:label="lab_us-gaap_DisposalGroupIncludingDiscontinuedOperationAccountsPayableAndAccruedLiabilities_D56511CAB431A0D1510F23D83BCE8BB8" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Disposal Group, Including Discontinued Operation, Accounts Payable and Accrued Liabilities </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_DisposalGroupIncludingDiscontinuedOperationAccountsPayableAndAccruedLiabilities" xlink:label="loc_us-gaap_DisposalGroupIncludingDiscontinuedOperationAccountsPayableAndAccruedLiabilities_D56511CAB431A0D1510F23D83BCE8BB8" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DisposalGroupIncludingDiscontinuedOperationAccountsPayableAndAccruedLiabilities_D56511CAB431A0D1510F23D83BCE8BB8" xlink:to="lab_us-gaap_DisposalGroupIncludingDiscontinuedOperationAccountsPayableAndAccruedLiabilities_D56511CAB431A0D1510F23D83BCE8BB8" xlink:type="arc"/>

<link:label id="lab_us-gaap_DisposalGroupIncludingDiscontinuedOperationOtherLiabilities_58EAB884ABD799D920F623D83BCE35F7_terseLabel_en-US" xlink:label="lab_us-gaap_DisposalGroupIncludingDiscontinuedOperationOtherLiabilities_58EAB884ABD799D920F623D83BCE35F7" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Other liabilities </link:label>

<link:label id="lab_us-gaap_DisposalGroupIncludingDiscontinuedOperationOtherLiabilities_58EAB884ABD799D920F623D83BCE35F7_label_en-US" xlink:label="lab_us-gaap_DisposalGroupIncludingDiscontinuedOperationOtherLiabilities_58EAB884ABD799D920F623D83BCE35F7" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Disposal Group, Including Discontinued Operation, Other Liabilities </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_DisposalGroupIncludingDiscontinuedOperationOtherLiabilities" xlink:label="loc_us-gaap_DisposalGroupIncludingDiscontinuedOperationOtherLiabilities_58EAB884ABD799D920F623D83BCE35F7" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DisposalGroupIncludingDiscontinuedOperationOtherLiabilities_58EAB884ABD799D920F623D83BCE35F7" xlink:to="lab_us-gaap_DisposalGroupIncludingDiscontinuedOperationOtherLiabilities_58EAB884ABD799D920F623D83BCE35F7" xlink:type="arc"/>

<link:label id="lab_us-gaap_LiabilitiesOfDisposalGroupIncludingDiscontinuedOperation_D31AD9A129E806FA128E23D83BCF2FC7_totalLabel_en-US" xlink:label="lab_us-gaap_LiabilitiesOfDisposalGroupIncludingDiscontinuedOperation_D31AD9A129E806FA128E23D83BCF2FC7" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US"> Liabilities of discontinued operations </link:label>

<link:label id="lab_us-gaap_LiabilitiesOfDisposalGroupIncludingDiscontinuedOperation_D31AD9A129E806FA128E23D83BCF2FC7_label_en-US" xlink:label="lab_us-gaap_LiabilitiesOfDisposalGroupIncludingDiscontinuedOperation_D31AD9A129E806FA128E23D83BCF2FC7" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Disposal Group, Including Discontinued Operation, Liabilities </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_LiabilitiesOfDisposalGroupIncludingDiscontinuedOperation" xlink:label="loc_us-gaap_LiabilitiesOfDisposalGroupIncludingDiscontinuedOperation_D31AD9A129E806FA128E23D83BCF2FC7" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LiabilitiesOfDisposalGroupIncludingDiscontinuedOperation_D31AD9A129E806FA128E23D83BCF2FC7" xlink:to="lab_us-gaap_LiabilitiesOfDisposalGroupIncludingDiscontinuedOperation_D31AD9A129E806FA128E23D83BCF2FC7" xlink:type="arc"/>

<link:label id="lab_cit_ContingentLiabilitiesMember_42344B80649D9396EF9C23D83BDA557B_terseLabel_en-US" xlink:label="lab_cit_ContingentLiabilitiesMember_42344B80649D9396EF9C23D83BDA557B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Contingent Liabilities </link:label>

<link:label id="lab_cit_ContingentLiabilitiesMember_42344B80649D9396EF9C23D83BDA557B_label_en-US" xlink:label="lab_cit_ContingentLiabilitiesMember_42344B80649D9396EF9C23D83BDA557B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Contingent Liabilities [Member] </link:label>

<link:label id="lab_cit_ContingentLiabilitiesMember_42344B80649D9396EF9C23D83BDA557B_documentation_en-US" xlink:label="lab_cit_ContingentLiabilitiesMember_42344B80649D9396EF9C23D83BDA557B" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Contingent Liabilities [Member] </link:label>

<link:loc xlink:href="cit-20180331.xsd#cit_ContingentLiabilitiesMember" xlink:label="loc_cit_ContingentLiabilitiesMember_42344B80649D9396EF9C23D83BDA557B" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cit_ContingentLiabilitiesMember_42344B80649D9396EF9C23D83BDA557B" xlink:to="lab_cit_ContingentLiabilitiesMember_42344B80649D9396EF9C23D83BDA557B" xlink:type="arc"/>

<link:label id="lab_cit_ReversedMortgageServicingLiabilitiesMember_67A453746A5FF9DC085E23D83BDBA652_terseLabel_en-US" xlink:label="lab_cit_ReversedMortgageServicingLiabilitiesMember_67A453746A5FF9DC085E23D83BDBA652" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Reversed Mortgage Servicing Liabilities </link:label>

<link:label id="lab_cit_ReversedMortgageServicingLiabilitiesMember_67A453746A5FF9DC085E23D83BDBA652_label_en-US" xlink:label="lab_cit_ReversedMortgageServicingLiabilitiesMember_67A453746A5FF9DC085E23D83BDBA652" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Reversed Mortgage Servicing Liabilities [Member] </link:label>

<link:label id="lab_cit_ReversedMortgageServicingLiabilitiesMember_67A453746A5FF9DC085E23D83BDBA652_documentation_en-US" xlink:label="lab_cit_ReversedMortgageServicingLiabilitiesMember_67A453746A5FF9DC085E23D83BDBA652" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Reversed Mortgage Servicing Liabilities [Member] </link:label>

<link:loc xlink:href="cit-20180331.xsd#cit_ReversedMortgageServicingLiabilitiesMember" xlink:label="loc_cit_ReversedMortgageServicingLiabilitiesMember_67A453746A5FF9DC085E23D83BDBA652" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cit_ReversedMortgageServicingLiabilitiesMember_67A453746A5FF9DC085E23D83BDBA652" xlink:to="lab_cit_ReversedMortgageServicingLiabilitiesMember_67A453746A5FF9DC085E23D83BDBA652" xlink:type="arc"/>

<link:label id="lab_cit_OtherAccruedLiabilitiesMember_A568390A84C72C08B0C323D83BDB51C9_terseLabel_en-US" xlink:label="lab_cit_OtherAccruedLiabilitiesMember_A568390A84C72C08B0C323D83BDB51C9" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Other Accrued Liabilities </link:label>

<link:label id="lab_cit_OtherAccruedLiabilitiesMember_A568390A84C72C08B0C323D83BDB51C9_label_en-US" xlink:label="lab_cit_OtherAccruedLiabilitiesMember_A568390A84C72C08B0C323D83BDB51C9" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Other Accrued Liabilities [Member] </link:label>

<link:label id="lab_cit_OtherAccruedLiabilitiesMember_A568390A84C72C08B0C323D83BDB51C9_documentation_en-US" xlink:label="lab_cit_OtherAccruedLiabilitiesMember_A568390A84C72C08B0C323D83BDB51C9" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Other Accrued Liabilities [Member] </link:label>

<link:loc xlink:href="cit-20180331.xsd#cit_OtherAccruedLiabilitiesMember" xlink:label="loc_cit_OtherAccruedLiabilitiesMember_A568390A84C72C08B0C323D83BDB51C9" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cit_OtherAccruedLiabilitiesMember_A568390A84C72C08B0C323D83BDB51C9" xlink:to="lab_cit_OtherAccruedLiabilitiesMember_A568390A84C72C08B0C323D83BDB51C9" xlink:type="arc"/>

<link:label id="lab_us-gaap_DisposalGroupIncludingDiscontinuedOperationCashAndCashEquivalents_99C64AB7B1FC7E96912C23D83BDBB79D_netLabel_en-US" xlink:label="lab_us-gaap_DisposalGroupIncludingDiscontinuedOperationCashAndCashEquivalents_99C64AB7B1FC7E96912C23D83BDBB79D" xlink:role="http://www.xbrl.org/2009/role/netLabel" xlink:type="resource" xml:lang="en-US"> Total cash and deposits, all of which is restricted </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_DisposalGroupIncludingDiscontinuedOperationCashAndCashEquivalents" xlink:label="loc_us-gaap_DisposalGroupIncludingDiscontinuedOperationCashAndCashEquivalents_99C64AB7B1FC7E96912C23D83BDBB79D" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DisposalGroupIncludingDiscontinuedOperationCashAndCashEquivalents_99C64AB7B1FC7E96912C23D83BDBB79D" xlink:to="lab_us-gaap_DisposalGroupIncludingDiscontinuedOperationCashAndCashEquivalents_99C64AB7B1FC7E96912C23D83BDBB79D" xlink:type="arc"/>

<link:label id="lab_cit_DisposalGroupIncludingDiscontinuedOperationsAccountsNotesandLoansReceivableNetSecuritizedBalances_8A60526F529D9ED7851323D83BDB0920_terseLabel_en-US" xlink:label="lab_cit_DisposalGroupIncludingDiscontinuedOperationsAccountsNotesandLoansReceivableNetSecuritizedBalances_8A60526F529D9ED7851323D83BDB0920" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Securitized balance of net loans </link:label>

<link:label id="lab_cit_DisposalGroupIncludingDiscontinuedOperationsAccountsNotesandLoansReceivableNetSecuritizedBalances_8A60526F529D9ED7851323D83BDB0920_label_en-US" xlink:label="lab_cit_DisposalGroupIncludingDiscontinuedOperationsAccountsNotesandLoansReceivableNetSecuritizedBalances_8A60526F529D9ED7851323D83BDB0920" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Disposal Group, Including Discontinued Operations, Accounts, Notes and Loans Receivable, Net, Securitized Balances </link:label>

<link:label id="lab_cit_DisposalGroupIncludingDiscontinuedOperationsAccountsNotesandLoansReceivableNetSecuritizedBalances_8A60526F529D9ED7851323D83BDB0920_documentation_en-US" xlink:label="lab_cit_DisposalGroupIncludingDiscontinuedOperationsAccountsNotesandLoansReceivableNetSecuritizedBalances_8A60526F529D9ED7851323D83BDB0920" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Disposal Group, Including Discontinued Operations, Accounts, Notes and Loans Receivable, Net, Securitized Balances </link:label>

<link:loc xlink:href="cit-20180331.xsd#cit_DisposalGroupIncludingDiscontinuedOperationsAccountsNotesandLoansReceivableNetSecuritizedBalances" xlink:label="loc_cit_DisposalGroupIncludingDiscontinuedOperationsAccountsNotesandLoansReceivableNetSecuritizedBalances_8A60526F529D9ED7851323D83BDB0920" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cit_DisposalGroupIncludingDiscontinuedOperationsAccountsNotesandLoansReceivableNetSecuritizedBalances_8A60526F529D9ED7851323D83BDB0920" xlink:to="lab_cit_DisposalGroupIncludingDiscontinuedOperationsAccountsNotesandLoansReceivableNetSecuritizedBalances_8A60526F529D9ED7851323D83BDB0920" xlink:type="arc"/>

<link:label id="lab_cit_DisposalGroupIncludingDiscontinuedOperationsAccountsNotesandLoansReceivableNetBalancesAwaitingSecuritization_6A034EC5C531E8BBBC6223D83BDB5AAF_terseLabel_en-US" xlink:label="lab_cit_DisposalGroupIncludingDiscontinuedOperationsAccountsNotesandLoansReceivableNetBalancesAwaitingSecuritization_6A034EC5C531E8BBBC6223D83BDB5AAF" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Additional draws on awaiting securitization </link:label>

<link:label id="lab_cit_DisposalGroupIncludingDiscontinuedOperationsAccountsNotesandLoansReceivableNetBalancesAwaitingSecuritization_6A034EC5C531E8BBBC6223D83BDB5AAF_label_en-US" xlink:label="lab_cit_DisposalGroupIncludingDiscontinuedOperationsAccountsNotesandLoansReceivableNetBalancesAwaitingSecuritization_6A034EC5C531E8BBBC6223D83BDB5AAF" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Disposal Group, Including Discontinued Operations, Accounts, Notes and Loans Receivable, Net, Balances Awaiting Securitization </link:label>

<link:label id="lab_cit_DisposalGroupIncludingDiscontinuedOperationsAccountsNotesandLoansReceivableNetBalancesAwaitingSecuritization_6A034EC5C531E8BBBC6223D83BDB5AAF_documentation_en-US" xlink:label="lab_cit_DisposalGroupIncludingDiscontinuedOperationsAccountsNotesandLoansReceivableNetBalancesAwaitingSecuritization_6A034EC5C531E8BBBC6223D83BDB5AAF" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Disposal Group, Including Discontinued Operations, Accounts, Notes and Loans Receivable, Net, Balances Awaiting Securitization </link:label>

<link:loc xlink:href="cit-20180331.xsd#cit_DisposalGroupIncludingDiscontinuedOperationsAccountsNotesandLoansReceivableNetBalancesAwaitingSecuritization" xlink:label="loc_cit_DisposalGroupIncludingDiscontinuedOperationsAccountsNotesandLoansReceivableNetBalancesAwaitingSecuritization_6A034EC5C531E8BBBC6223D83BDB5AAF" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cit_DisposalGroupIncludingDiscontinuedOperationsAccountsNotesandLoansReceivableNetBalancesAwaitingSecuritization_6A034EC5C531E8BBBC6223D83BDB5AAF" xlink:to="lab_cit_DisposalGroupIncludingDiscontinuedOperationsAccountsNotesandLoansReceivableNetBalancesAwaitingSecuritization_6A034EC5C531E8BBBC6223D83BDB5AAF" xlink:type="arc"/>

<link:label id="lab_cit_DisposalGroupIncludingDiscontinuedOperationServicingAsset_8171AF496C83F189BA3D23D83BDB0119_terseLabel_en-US" xlink:label="lab_cit_DisposalGroupIncludingDiscontinuedOperationServicingAsset_8171AF496C83F189BA3D23D83BDB0119" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Loans serviced for others </link:label>

<link:label id="lab_cit_DisposalGroupIncludingDiscontinuedOperationServicingAsset_8171AF496C83F189BA3D23D83BDB0119_label_en-US" xlink:label="lab_cit_DisposalGroupIncludingDiscontinuedOperationServicingAsset_8171AF496C83F189BA3D23D83BDB0119" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Disposal Group, Including Discontinued Operation, Servicing Asset </link:label>

<link:label id="lab_cit_DisposalGroupIncludingDiscontinuedOperationServicingAsset_8171AF496C83F189BA3D23D83BDB0119_documentation_en-US" xlink:label="lab_cit_DisposalGroupIncludingDiscontinuedOperationServicingAsset_8171AF496C83F189BA3D23D83BDB0119" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Disposal Group, Including Discontinued Operation, Servicing Asset </link:label>

<link:loc xlink:href="cit-20180331.xsd#cit_DisposalGroupIncludingDiscontinuedOperationServicingAsset" xlink:label="loc_cit_DisposalGroupIncludingDiscontinuedOperationServicingAsset_8171AF496C83F189BA3D23D83BDB0119" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cit_DisposalGroupIncludingDiscontinuedOperationServicingAsset_8171AF496C83F189BA3D23D83BDB0119" xlink:to="lab_cit_DisposalGroupIncludingDiscontinuedOperationServicingAsset_8171AF496C83F189BA3D23D83BDB0119" xlink:type="arc"/>

<link:label id="lab_us-gaap_AccumulatedTranslationAdjustmentMember_3FB6F75AFC40A67175FA0877590BA3F4_verboseLabel_en-US" xlink:label="lab_us-gaap_AccumulatedTranslationAdjustmentMember_3FB6F75AFC40A67175FA0877590BA3F4" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Foreign currency translation adjustments gains </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_AccumulatedTranslationAdjustmentMember" xlink:label="loc_us-gaap_AccumulatedTranslationAdjustmentMember_3FB6F75AFC40A67175FA0877590BA3F4" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AccumulatedTranslationAdjustmentMember_3FB6F75AFC40A67175FA0877590BA3F4" xlink:to="lab_us-gaap_AccumulatedTranslationAdjustmentMember_3FB6F75AFC40A67175FA0877590BA3F4" xlink:type="arc"/>

<link:label id="lab_us-gaap_AccumulatedDefinedBenefitPlansAdjustmentMember_C26A3A5BE5C1D531D6DF0877590B160C_terseLabel_en-US" xlink:label="lab_us-gaap_AccumulatedDefinedBenefitPlansAdjustmentMember_C26A3A5BE5C1D531D6DF0877590B160C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Changes in benefit plan net gain/(loss) and prior service (cost)/credit losses </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_AccumulatedDefinedBenefitPlansAdjustmentMember" xlink:label="loc_us-gaap_AccumulatedDefinedBenefitPlansAdjustmentMember_C26A3A5BE5C1D531D6DF0877590B160C" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AccumulatedDefinedBenefitPlansAdjustmentMember_C26A3A5BE5C1D531D6DF0877590B160C" xlink:to="lab_us-gaap_AccumulatedDefinedBenefitPlansAdjustmentMember_C26A3A5BE5C1D531D6DF0877590B160C" xlink:type="arc"/>

<link:label id="lab_us-gaap_AccumulatedNetUnrealizedInvestmentGainLossMember_617B44E96907BB850D2F0877590BCB7D_verboseLabel_en-US" xlink:label="lab_us-gaap_AccumulatedNetUnrealizedInvestmentGainLossMember_617B44E96907BB850D2F0877590BCB7D" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Unrealized net gains (losses) on securities AFS </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_AccumulatedNetUnrealizedInvestmentGainLossMember" xlink:label="loc_us-gaap_AccumulatedNetUnrealizedInvestmentGainLossMember_617B44E96907BB850D2F0877590BCB7D" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AccumulatedNetUnrealizedInvestmentGainLossMember_617B44E96907BB850D2F0877590BCB7D" xlink:to="lab_us-gaap_AccumulatedNetUnrealizedInvestmentGainLossMember_617B44E96907BB850D2F0877590BCB7D" xlink:type="arc"/>

<link:label id="lab_us-gaap_IncomeStatementLocationAxis_751AEB4D512B1855BD0F0877590BBD74_terseLabel_en-US" xlink:label="lab_us-gaap_IncomeStatementLocationAxis_751AEB4D512B1855BD0F0877590BBD74" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Income Statement Location [Axis] </link:label>

<link:label id="lab_us-gaap_IncomeStatementLocationAxis_751AEB4D512B1855BD0F0877590BBD74_label_en-US" xlink:label="lab_us-gaap_IncomeStatementLocationAxis_751AEB4D512B1855BD0F0877590BBD74" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Income Statement Location [Axis] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_IncomeStatementLocationAxis" xlink:label="loc_us-gaap_IncomeStatementLocationAxis_751AEB4D512B1855BD0F0877590BBD74" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncomeStatementLocationAxis_751AEB4D512B1855BD0F0877590BBD74" xlink:to="lab_us-gaap_IncomeStatementLocationAxis_751AEB4D512B1855BD0F0877590BBD74" xlink:type="arc"/>

<link:label id="lab_us-gaap_IncomeStatementLocationDomain_D1033048460C7FEB611E0877590C4404_terseLabel_en-US" xlink:label="lab_us-gaap_IncomeStatementLocationDomain_D1033048460C7FEB611E0877590C4404" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Income Statement Location [Domain] </link:label>

<link:label id="lab_us-gaap_IncomeStatementLocationDomain_D1033048460C7FEB611E0877590C4404_label_en-US" xlink:label="lab_us-gaap_IncomeStatementLocationDomain_D1033048460C7FEB611E0877590C4404" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Income Statement Location [Domain] </link:label>

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<link:label id="lab_cit_GainonSaleDiscontinuedOperationsMember_C744A67295DE2C3773050877590CF36F_terseLabel_en-US" xlink:label="lab_cit_GainonSaleDiscontinuedOperationsMember_C744A67295DE2C3773050877590CF36F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Other Income </link:label>

<link:label id="lab_cit_GainonSaleDiscontinuedOperationsMember_C744A67295DE2C3773050877590CF36F_label_en-US" xlink:label="lab_cit_GainonSaleDiscontinuedOperationsMember_C744A67295DE2C3773050877590CF36F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Gain on Sale, Discontinued Operations [Member] </link:label>

<link:label id="lab_cit_GainonSaleDiscontinuedOperationsMember_C744A67295DE2C3773050877590CF36F_documentation_en-US" xlink:label="lab_cit_GainonSaleDiscontinuedOperationsMember_C744A67295DE2C3773050877590CF36F" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Gain on Sale, Discontinued Operations [Member] </link:label>

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<link:label id="lab_us-gaap_OperatingExpenseMember_DE69E4BB2DD30AF73BD30877590CEDAB_terseLabel_en-US" xlink:label="lab_us-gaap_OperatingExpenseMember_DE69E4BB2DD30AF73BD30877590CEDAB" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Operating Expenses </link:label>

<link:label id="lab_us-gaap_OperatingExpenseMember_DE69E4BB2DD30AF73BD30877590CEDAB_label_en-US" xlink:label="lab_us-gaap_OperatingExpenseMember_DE69E4BB2DD30AF73BD30877590CEDAB" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Operating Expense [Member] </link:label>

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<link:label id="lab_us-gaap_OtherIncomeMember_BD49B538FF7A90D8089A0877590C3805_terseLabel_en-US" xlink:label="lab_us-gaap_OtherIncomeMember_BD49B538FF7A90D8089A0877590C3805" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Other Income </link:label>

<link:label id="lab_us-gaap_OtherIncomeMember_BD49B538FF7A90D8089A0877590C3805_label_en-US" xlink:label="lab_us-gaap_OtherIncomeMember_BD49B538FF7A90D8089A0877590C3805" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Other Income [Member] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_OtherIncomeMember" xlink:label="loc_us-gaap_OtherIncomeMember_BD49B538FF7A90D8089A0877590C3805" xlink:type="locator"/>

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<link:label id="lab_us-gaap_ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodBeforeTax_652C17901CC9BF4528940877590CA304_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodBeforeTax_652C17901CC9BF4528940877590CA304" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US"> Gross Amount </link:label>

<link:label id="lab_us-gaap_ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodBeforeTax_652C17901CC9BF4528940877590CA304_label_en-US" xlink:label="lab_us-gaap_ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodBeforeTax_652C17901CC9BF4528940877590CA304" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodBeforeTax" xlink:label="loc_us-gaap_ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodBeforeTax_652C17901CC9BF4528940877590CA304" xlink:type="locator"/>

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<link:label id="lab_us-gaap_ReclassificationFromAociCurrentPeriodTax_F8D02EC422FA0200E7A70877590CFA22_label_en-US" xlink:label="lab_us-gaap_ReclassificationFromAociCurrentPeriodTax_F8D02EC422FA0200E7A70877590CFA22" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Reclassification from AOCI, Current Period, Tax </link:label>

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<link:label id="lab_us-gaap_ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax_C29D2EFF6ED0D3285FDB0877590DCF3C_negatedTotalLabel_en-US" xlink:label="lab_us-gaap_ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax_C29D2EFF6ED0D3285FDB0877590DCF3C" xlink:role="http://www.xbrl.org/2009/role/negatedTotalLabel" xlink:type="resource" xml:lang="en-US"> Net Amount </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax" xlink:label="loc_us-gaap_ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax_C29D2EFF6ED0D3285FDB0877590DCF3C" xlink:type="locator"/>

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<link:label id="lab_us-gaap_ScheduleOfVariableInterestEntitiesTable_47F71DEEF1FBD1E9E67809320FD33FC1_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfVariableInterestEntitiesTable_FF97B3539CE95AB39C9D5F4531F4D272" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Schedule of Variable Interest Entities [Table] </link:label>

<link:label id="lab_us-gaap_ScheduleOfVariableInterestEntitiesTable_47F71DEEF1FBD1E9E67809320FD33FC1_label_en-US" xlink:label="lab_us-gaap_ScheduleOfVariableInterestEntitiesTable_FF97B3539CE95AB39C9D5F4531F4D272" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Schedule of Variable Interest Entities [Table] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ScheduleOfVariableInterestEntitiesTable" xlink:label="loc_us-gaap_ScheduleOfVariableInterestEntitiesTable_FF97B3539CE95AB39C9D5F4531F4D272" xlink:type="locator"/>

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<link:label id="lab_cit_UnconsolidatedVariableInterestEntitiesViesMember_7E385BEB07918C4C438009320FD3CB83_terseLabel_en-US" xlink:label="lab_cit_UnconsolidatedVariableInterestEntitiesViesMember_6F660EE4E3B65E2B94236356B51AC469" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Unconsolidated Variable Interest Entities (VIEs) </link:label>

<link:label id="lab_cit_UnconsolidatedVariableInterestEntitiesViesMember_7E385BEB07918C4C438009320FD3CB83_label_en-US" xlink:label="lab_cit_UnconsolidatedVariableInterestEntitiesViesMember_6F660EE4E3B65E2B94236356B51AC469" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Unconsolidated Variable Interest Entities Vies [Member] </link:label>

<link:label id="lab_cit_UnconsolidatedVariableInterestEntitiesViesMember_7E385BEB07918C4C438009320FD3CB83_documentation_en-US" xlink:label="lab_cit_UnconsolidatedVariableInterestEntitiesViesMember_6F660EE4E3B65E2B94236356B51AC469" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Unconsolidated Variable Interest Entities (VIEs) [Member] </link:label>

<link:loc xlink:href="cit-20180331.xsd#cit_UnconsolidatedVariableInterestEntitiesViesMember" xlink:label="loc_cit_UnconsolidatedVariableInterestEntitiesViesMember_6F660EE4E3B65E2B94236356B51AC469" xlink:type="locator"/>

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<link:label id="lab_us-gaap_DebtSecuritiesMember_3C63282872239FDB915909320FD3ED2B_terseLabel_en-US" xlink:label="lab_us-gaap_DebtSecuritiesMember_A527472F550554C994592007560B942C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Debt securities </link:label>

<link:label id="lab_us-gaap_DebtSecuritiesMember_3C63282872239FDB915909320FD3ED2B_label_en-US" xlink:label="lab_us-gaap_DebtSecuritiesMember_A527472F550554C994592007560B942C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Debt Securities [Member] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_DebtSecuritiesMember" xlink:label="loc_us-gaap_DebtSecuritiesMember_A527472F550554C994592007560B942C" xlink:type="locator"/>

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<link:label id="lab_us-gaap_EquitySecuritiesMember_0F4677DEFB530F64C4C909320FD4677F_terseLabel_en-US" xlink:label="lab_us-gaap_EquitySecuritiesMember_A044111BA3C454F9A59B68D49C169886" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Equity securities </link:label>

<link:label id="lab_us-gaap_EquitySecuritiesMember_0F4677DEFB530F64C4C909320FD4677F_label_en-US" xlink:label="lab_us-gaap_EquitySecuritiesMember_A044111BA3C454F9A59B68D49C169886" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Equity Securities [Member] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_EquitySecuritiesMember" xlink:label="loc_us-gaap_EquitySecuritiesMember_A044111BA3C454F9A59B68D49C169886" xlink:type="locator"/>

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<link:label id="lab_cit_PartnershipInvestmentMember_5D9528576793112DDC8709320FD47FFE_terseLabel_en-US" xlink:label="lab_cit_PartnershipInvestmentMember_295913A2F9A252B99DF4484EC53B192F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Partnership Investment </link:label>

<link:label id="lab_cit_PartnershipInvestmentMember_5D9528576793112DDC8709320FD47FFE_label_en-US" xlink:label="lab_cit_PartnershipInvestmentMember_295913A2F9A252B99DF4484EC53B192F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Partnership Investment [Member] </link:label>

<link:label id="lab_cit_PartnershipInvestmentMember_5D9528576793112DDC8709320FD47FFE_documentation_en-US" xlink:label="lab_cit_PartnershipInvestmentMember_295913A2F9A252B99DF4484EC53B192F" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Partnership Investment [Member] </link:label>

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<link:label id="lab_us-gaap_UnderlyingAssetClassAxis_BA5C4FB151940B0ED4F509320FD44130_terseLabel_en-US" xlink:label="lab_us-gaap_UnderlyingAssetClassAxis_259551ECDBF65CFAA079887C0DAF02B7" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Underlying Asset Class [Axis] </link:label>

<link:label id="lab_us-gaap_UnderlyingAssetClassAxis_BA5C4FB151940B0ED4F509320FD44130_label_en-US" xlink:label="lab_us-gaap_UnderlyingAssetClassAxis_259551ECDBF65CFAA079887C0DAF02B7" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Underlying Asset Class [Axis] </link:label>

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<link:label id="lab_us-gaap_UnderlyingAssetClassDomain_B469A852B00537D2F1E309320FD45AB1_label_en-US" xlink:label="lab_us-gaap_UnderlyingAssetClassDomain_402B32D71FF95612AEBF969B43AE9CE7" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Underlying Asset Class [Domain] </link:label>

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<link:label id="lab_us-gaap_AgencySecuritiesMember_9AE035D70716CEE4BDCB09320FD4F088_terseLabel_en-US" xlink:label="lab_us-gaap_AgencySecuritiesMember_A472FBA9F7935E52AA3E651957100E08" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Agency securities </link:label>

<link:label id="lab_us-gaap_AgencySecuritiesMember_9AE035D70716CEE4BDCB09320FD4F088_label_en-US" xlink:label="lab_us-gaap_AgencySecuritiesMember_A472FBA9F7935E52AA3E651957100E08" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Agency Securities [Member] </link:label>

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<link:label id="lab_cit_NonAgencySecuritiesMember_D8DBFF47B58BFBFDA0F509320FD408CC_terseLabel_en-US" xlink:label="lab_cit_NonAgencySecuritiesMember_54A6E58C77025D1E83139D27E7E510F7" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Non agency securities — Other servicer </link:label>

<link:label id="lab_cit_NonAgencySecuritiesMember_D8DBFF47B58BFBFDA0F509320FD408CC_label_en-US" xlink:label="lab_cit_NonAgencySecuritiesMember_54A6E58C77025D1E83139D27E7E510F7" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Non Agency Securities [Member] </link:label>

<link:label id="lab_cit_NonAgencySecuritiesMember_D8DBFF47B58BFBFDA0F509320FD408CC_documentation_en-US" xlink:label="lab_cit_NonAgencySecuritiesMember_54A6E58C77025D1E83139D27E7E510F7" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Non-agency Securities [Member] </link:label>

<link:loc xlink:href="cit-20180331.xsd#cit_NonAgencySecuritiesMember" xlink:label="loc_cit_NonAgencySecuritiesMember_54A6E58C77025D1E83139D27E7E510F7" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cit_NonAgencySecuritiesMember_54A6E58C77025D1E83139D27E7E510F7" xlink:to="lab_cit_NonAgencySecuritiesMember_54A6E58C77025D1E83139D27E7E510F7" xlink:type="arc"/>

<link:label id="lab_cit_TaxCreditEquityInvestmentMember_563BE70B68D20B03F12309320FD4F65B_terseLabel_en-US" xlink:label="lab_cit_TaxCreditEquityInvestmentMember_7967170B5C075D24823B93F33BFB2DBF" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Tax credit equity investments </link:label>

<link:label id="lab_cit_TaxCreditEquityInvestmentMember_563BE70B68D20B03F12309320FD4F65B_label_en-US" xlink:label="lab_cit_TaxCreditEquityInvestmentMember_7967170B5C075D24823B93F33BFB2DBF" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Tax Credit Equity Investment [Member] </link:label>

<link:label id="lab_cit_TaxCreditEquityInvestmentMember_563BE70B68D20B03F12309320FD4F65B_documentation_en-US" xlink:label="lab_cit_TaxCreditEquityInvestmentMember_7967170B5C075D24823B93F33BFB2DBF" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Tax Credit Equity Investment [Member] </link:label>

<link:loc xlink:href="cit-20180331.xsd#cit_TaxCreditEquityInvestmentMember" xlink:label="loc_cit_TaxCreditEquityInvestmentMember_7967170B5C075D24823B93F33BFB2DBF" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cit_TaxCreditEquityInvestmentMember_7967170B5C075D24823B93F33BFB2DBF" xlink:to="lab_cit_TaxCreditEquityInvestmentMember_7967170B5C075D24823B93F33BFB2DBF" xlink:type="arc"/>

<link:label id="lab_us-gaap_CommitmentsMember_3F091A9EEB7CC3DED8B409320FD4FA97_terseLabel_en-US" xlink:label="lab_us-gaap_CommitmentsMember_BE1EE8552284554DB1C6D0C7EC02DF1F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Commitments to tax credit investments </link:label>

<link:label id="lab_us-gaap_CommitmentsMember_3F091A9EEB7CC3DED8B409320FD4FA97_label_en-US" xlink:label="lab_us-gaap_CommitmentsMember_BE1EE8552284554DB1C6D0C7EC02DF1F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Commitments [Member] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_CommitmentsMember" xlink:label="loc_us-gaap_CommitmentsMember_BE1EE8552284554DB1C6D0C7EC02DF1F" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommitmentsMember_BE1EE8552284554DB1C6D0C7EC02DF1F" xlink:to="lab_us-gaap_CommitmentsMember_BE1EE8552284554DB1C6D0C7EC02DF1F" xlink:type="arc"/>

<link:label id="lab_us-gaap_VariableInterestEntityLineItems_5E21DD9DE4F90CDE485B09320FD43824_terseLabel_en-US" xlink:label="lab_us-gaap_VariableInterestEntityLineItems_46F746BF8097532FAD2769CEE1967E6C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Variable Interest Entity [Line Items] </link:label>

<link:label id="lab_us-gaap_VariableInterestEntityLineItems_5E21DD9DE4F90CDE485B09320FD43824_label_en-US" xlink:label="lab_us-gaap_VariableInterestEntityLineItems_46F746BF8097532FAD2769CEE1967E6C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Variable Interest Entity [Line Items] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_VariableInterestEntityLineItems" xlink:label="loc_us-gaap_VariableInterestEntityLineItems_46F746BF8097532FAD2769CEE1967E6C" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_VariableInterestEntityLineItems_46F746BF8097532FAD2769CEE1967E6C" xlink:to="lab_us-gaap_VariableInterestEntityLineItems_46F746BF8097532FAD2769CEE1967E6C" xlink:type="arc"/>

<link:label id="lab_us-gaap_VariableInterestEntityNonconsolidatedCarryingAmountAssets_46333FAFF5A489B264AB09320FD42479_terseLabel_en-US" xlink:label="lab_us-gaap_VariableInterestEntityNonconsolidatedCarryingAmountAssets_F363222EDE47576292F87F5A51408903" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Total Assets </link:label>

<link:label id="lab_us-gaap_VariableInterestEntityNonconsolidatedCarryingAmountAssets_46333FAFF5A489B264AB09320FD42479_label_en-US" xlink:label="lab_us-gaap_VariableInterestEntityNonconsolidatedCarryingAmountAssets_F363222EDE47576292F87F5A51408903" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Variable Interest Entity, Nonconsolidated, Carrying Amount, Assets </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_VariableInterestEntityNonconsolidatedCarryingAmountAssets" xlink:label="loc_us-gaap_VariableInterestEntityNonconsolidatedCarryingAmountAssets_F363222EDE47576292F87F5A51408903" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_VariableInterestEntityNonconsolidatedCarryingAmountAssets_F363222EDE47576292F87F5A51408903" xlink:to="lab_us-gaap_VariableInterestEntityNonconsolidatedCarryingAmountAssets_F363222EDE47576292F87F5A51408903" xlink:type="arc"/>

<link:label id="lab_us-gaap_VariableInterestEntityNonconsolidatedCarryingAmountLiabilities_9E89BDECB2439FB3827F09320FD5709A_terseLabel_en-US" xlink:label="lab_us-gaap_VariableInterestEntityNonconsolidatedCarryingAmountLiabilities_DA971CDF204A5DDF91B9774904AA1775" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Total Liabilities </link:label>

<link:label id="lab_us-gaap_VariableInterestEntityNonconsolidatedCarryingAmountLiabilities_9E89BDECB2439FB3827F09320FD5709A_label_en-US" xlink:label="lab_us-gaap_VariableInterestEntityNonconsolidatedCarryingAmountLiabilities_DA971CDF204A5DDF91B9774904AA1775" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Variable Interest Entity, Nonconsolidated, Carrying Amount, Liabilities </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_VariableInterestEntityNonconsolidatedCarryingAmountLiabilities" xlink:label="loc_us-gaap_VariableInterestEntityNonconsolidatedCarryingAmountLiabilities_DA971CDF204A5DDF91B9774904AA1775" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_VariableInterestEntityNonconsolidatedCarryingAmountLiabilities_DA971CDF204A5DDF91B9774904AA1775" xlink:to="lab_us-gaap_VariableInterestEntityNonconsolidatedCarryingAmountLiabilities_DA971CDF204A5DDF91B9774904AA1775" xlink:type="arc"/>

<link:label id="lab_us-gaap_VariableInterestEntityEntityMaximumLossExposureAmount_B73DAAD2A7F761EB577809320FD529B8_terseLabel_en-US" xlink:label="lab_us-gaap_VariableInterestEntityEntityMaximumLossExposureAmount_1ACB20A932E55D819CA0D0BBA75A1BE4" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Maximum loss exposure </link:label>

<link:label id="lab_us-gaap_VariableInterestEntityEntityMaximumLossExposureAmount_B73DAAD2A7F761EB577809320FD529B8_label_en-US" xlink:label="lab_us-gaap_VariableInterestEntityEntityMaximumLossExposureAmount_1ACB20A932E55D819CA0D0BBA75A1BE4" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Variable Interest Entity, Reporting Entity Involvement, Maximum Loss Exposure, Amount </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_VariableInterestEntityEntityMaximumLossExposureAmount" xlink:label="loc_us-gaap_VariableInterestEntityEntityMaximumLossExposureAmount_1ACB20A932E55D819CA0D0BBA75A1BE4" xlink:type="locator"/>

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<link:label id="lab_us-gaap_StatementBusinessSegmentsAxis_684D5CFCA170B3EF83A90802A5451271_terseLabel_en-US" xlink:label="lab_us-gaap_StatementBusinessSegmentsAxis_684D5CFCA170B3EF83A90802A5451271" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Segments [Axis] </link:label>

<link:label id="lab_us-gaap_StatementBusinessSegmentsAxis_684D5CFCA170B3EF83A90802A5451271_label_en-US" xlink:label="lab_us-gaap_StatementBusinessSegmentsAxis_684D5CFCA170B3EF83A90802A5451271" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Segments [Axis] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_StatementBusinessSegmentsAxis" xlink:label="loc_us-gaap_StatementBusinessSegmentsAxis_684D5CFCA170B3EF83A90802A5451271" xlink:type="locator"/>

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<link:label id="lab_us-gaap_SegmentDomain_E3F181B3807466C4C1540802A5454230_terseLabel_en-US" xlink:label="lab_us-gaap_SegmentDomain_E3F181B3807466C4C1540802A5454230" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Segments [Domain] </link:label>

<link:label id="lab_us-gaap_SegmentDomain_E3F181B3807466C4C1540802A5454230_label_en-US" xlink:label="lab_us-gaap_SegmentDomain_E3F181B3807466C4C1540802A5454230" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Segments [Domain] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_SegmentDomain" xlink:label="loc_us-gaap_SegmentDomain_E3F181B3807466C4C1540802A5454230" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SegmentDomain_E3F181B3807466C4C1540802A5454230" xlink:to="lab_us-gaap_SegmentDomain_E3F181B3807466C4C1540802A5454230" xlink:type="arc"/>

<link:label id="lab_cit_CommercialBankingBusinessSegmentMember_7E194237D7DAD0AB8C0A0802A545EB3F_terseLabel_en-US" xlink:label="lab_cit_CommercialBankingBusinessSegmentMember_7E194237D7DAD0AB8C0A0802A545EB3F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Commercial Banking </link:label>

<link:label id="lab_cit_CommercialBankingBusinessSegmentMember_7E194237D7DAD0AB8C0A0802A545EB3F_label_en-US" xlink:label="lab_cit_CommercialBankingBusinessSegmentMember_7E194237D7DAD0AB8C0A0802A545EB3F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Commercial Banking Business Segment [Member] </link:label>

<link:label id="lab_cit_CommercialBankingBusinessSegmentMember_7E194237D7DAD0AB8C0A0802A545EB3F_documentation_en-US" xlink:label="lab_cit_CommercialBankingBusinessSegmentMember_7E194237D7DAD0AB8C0A0802A545EB3F" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Commercial Banking Business Segment [Member] </link:label>

<link:loc xlink:href="cit-20180331.xsd#cit_CommercialBankingBusinessSegmentMember" xlink:label="loc_cit_CommercialBankingBusinessSegmentMember_7E194237D7DAD0AB8C0A0802A545EB3F" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cit_CommercialBankingBusinessSegmentMember_7E194237D7DAD0AB8C0A0802A545EB3F" xlink:to="lab_cit_CommercialBankingBusinessSegmentMember_7E194237D7DAD0AB8C0A0802A545EB3F" xlink:type="arc"/>

<link:label id="lab_cit_ConsumerBankingBusinessSegmentMember_30D31B9066CAE13A184E0802A5456A1C_terseLabel_en-US" xlink:label="lab_cit_ConsumerBankingBusinessSegmentMember_30D31B9066CAE13A184E0802A5456A1C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Consumer Banking </link:label>

<link:label id="lab_cit_ConsumerBankingBusinessSegmentMember_30D31B9066CAE13A184E0802A5456A1C_label_en-US" xlink:label="lab_cit_ConsumerBankingBusinessSegmentMember_30D31B9066CAE13A184E0802A5456A1C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Consumer Banking Business Segment [Member] </link:label>

<link:label id="lab_cit_ConsumerBankingBusinessSegmentMember_30D31B9066CAE13A184E0802A5456A1C_documentation_en-US" xlink:label="lab_cit_ConsumerBankingBusinessSegmentMember_30D31B9066CAE13A184E0802A5456A1C" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Consumer Banking Business Segment [Member] </link:label>

<link:loc xlink:href="cit-20180331.xsd#cit_ConsumerBankingBusinessSegmentMember" xlink:label="loc_cit_ConsumerBankingBusinessSegmentMember_30D31B9066CAE13A184E0802A5456A1C" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cit_ConsumerBankingBusinessSegmentMember_30D31B9066CAE13A184E0802A5456A1C" xlink:to="lab_cit_ConsumerBankingBusinessSegmentMember_30D31B9066CAE13A184E0802A5456A1C" xlink:type="arc"/>

<link:label id="lab_us-gaap_GeographicDistributionAxis_FF89248CF6D2C35FB40A0802A545B694_terseLabel_en-US" xlink:label="lab_us-gaap_GeographicDistributionAxis_FF89248CF6D2C35FB40A0802A545B694" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Geographical Distribution [Axis] </link:label>

<link:label id="lab_us-gaap_GeographicDistributionAxis_FF89248CF6D2C35FB40A0802A545B694_label_en-US" xlink:label="lab_us-gaap_GeographicDistributionAxis_FF89248CF6D2C35FB40A0802A545B694" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Geographic Distribution [Axis] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_GeographicDistributionAxis" xlink:label="loc_us-gaap_GeographicDistributionAxis_FF89248CF6D2C35FB40A0802A545B694" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_GeographicDistributionAxis_FF89248CF6D2C35FB40A0802A545B694" xlink:to="lab_us-gaap_GeographicDistributionAxis_FF89248CF6D2C35FB40A0802A545B694" xlink:type="arc"/>

<link:label id="lab_us-gaap_GeographicDistributionDomain_99EF750888BF16CFBB670802A546D14B_terseLabel_en-US" xlink:label="lab_us-gaap_GeographicDistributionDomain_99EF750888BF16CFBB670802A546D14B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Geographical Distribution [Domain] </link:label>

<link:label id="lab_us-gaap_GeographicDistributionDomain_99EF750888BF16CFBB670802A546D14B_label_en-US" xlink:label="lab_us-gaap_GeographicDistributionDomain_99EF750888BF16CFBB670802A546D14B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Geographic Distribution [Domain] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_GeographicDistributionDomain" xlink:label="loc_us-gaap_GeographicDistributionDomain_99EF750888BF16CFBB670802A546D14B" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_GeographicDistributionDomain_99EF750888BF16CFBB670802A546D14B" xlink:to="lab_us-gaap_GeographicDistributionDomain_99EF750888BF16CFBB670802A546D14B" xlink:type="arc"/>

<link:label id="lab_us-gaap_GeographicDistributionDomesticMember_7A96C37AD1221521ACED0802A546AB86_terseLabel_en-US" xlink:label="lab_us-gaap_GeographicDistributionDomesticMember_7A96C37AD1221521ACED0802A546AB86" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Domestic </link:label>

<link:label id="lab_us-gaap_GeographicDistributionDomesticMember_7A96C37AD1221521ACED0802A546AB86_label_en-US" xlink:label="lab_us-gaap_GeographicDistributionDomesticMember_7A96C37AD1221521ACED0802A546AB86" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Geographic Distribution, Domestic [Member] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_GeographicDistributionDomesticMember" xlink:label="loc_us-gaap_GeographicDistributionDomesticMember_7A96C37AD1221521ACED0802A546AB86" xlink:type="locator"/>

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<link:label id="lab_us-gaap_GeographicDistributionForeignMember_1045369FD6C5FCEDB5B90802A546CA7C_terseLabel_en-US" xlink:label="lab_us-gaap_GeographicDistributionForeignMember_1045369FD6C5FCEDB5B90802A546CA7C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Foreign </link:label>

<link:label id="lab_us-gaap_GeographicDistributionForeignMember_1045369FD6C5FCEDB5B90802A546CA7C_label_en-US" xlink:label="lab_us-gaap_GeographicDistributionForeignMember_1045369FD6C5FCEDB5B90802A546CA7C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Geographic Distribution, Foreign [Member] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_GeographicDistributionForeignMember" xlink:label="loc_us-gaap_GeographicDistributionForeignMember_1045369FD6C5FCEDB5B90802A546CA7C" xlink:type="locator"/>

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<link:label id="lab_us-gaap_DerivativeFairValueOfDerivativeAsset_B75497496F257F6EA4A323D6D64D3489_verboseLabel_en-US" xlink:label="lab_us-gaap_DerivativeFairValueOfDerivativeAsset_B75497496F257F6EA4A323D6D64D3489" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Gross Amount of Recognized Assets, Derivative Assets </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_DerivativeFairValueOfDerivativeAsset" xlink:label="loc_us-gaap_DerivativeFairValueOfDerivativeAsset_B75497496F257F6EA4A323D6D64D3489" xlink:type="locator"/>

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<link:label id="lab_us-gaap_DerivativeAssetFairValueGrossLiability_2EF60C78B9B1E1F246B523D6D64D2062_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_DerivativeAssetFairValueGrossLiability_2EF60C78B9B1E1F246B523D6D64D2062" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US"> Gross Amount Offset in the Consolidated Balance Sheet, Derivative assets </link:label>

<link:label id="lab_us-gaap_DerivativeAssetFairValueGrossLiability_2EF60C78B9B1E1F246B523D6D64D2062_label_en-US" xlink:label="lab_us-gaap_DerivativeAssetFairValueGrossLiability_2EF60C78B9B1E1F246B523D6D64D2062" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Derivative Asset, Fair Value, Gross Liability </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_DerivativeAssetFairValueGrossLiability" xlink:label="loc_us-gaap_DerivativeAssetFairValueGrossLiability_2EF60C78B9B1E1F246B523D6D64D2062" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeAssetFairValueGrossLiability_2EF60C78B9B1E1F246B523D6D64D2062" xlink:to="lab_us-gaap_DerivativeAssetFairValueGrossLiability_2EF60C78B9B1E1F246B523D6D64D2062" xlink:type="arc"/>

<link:label id="lab_us-gaap_DerivativeAssets_EB04C6CB9AE7225BD63123D6D64DB26F_totalLabel_en-US" xlink:label="lab_us-gaap_DerivativeAssets_EB04C6CB9AE7225BD63123D6D64DB26F" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US"> Net Amount Presented in the Consolidated Balance Sheet, Derivative assets </link:label>

<link:label id="lab_us-gaap_DerivativeAssets_EB04C6CB9AE7225BD63123D6D64DB26F_label_en-US" xlink:label="lab_us-gaap_DerivativeAssets_EB04C6CB9AE7225BD63123D6D64DB26F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Derivative Asset </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_DerivativeAssets" xlink:label="loc_us-gaap_DerivativeAssets_EB04C6CB9AE7225BD63123D6D64DB26F" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeAssets_EB04C6CB9AE7225BD63123D6D64DB26F" xlink:to="lab_us-gaap_DerivativeAssets_EB04C6CB9AE7225BD63123D6D64DB26F" xlink:type="arc"/>

<link:label id="lab_us-gaap_DerivativeAssetNotSubjectToMasterNettingArrangementDeduction_E32F6DA78AB0EE42198523D6D64D932D_negatedLabel_en-US" xlink:label="lab_us-gaap_DerivativeAssetNotSubjectToMasterNettingArrangementDeduction_E32F6DA78AB0EE42198523D6D64D932D" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US"> Derivative Financial Instruments, Derivative assets </link:label>

<link:label id="lab_us-gaap_DerivativeAssetNotSubjectToMasterNettingArrangementDeduction_E32F6DA78AB0EE42198523D6D64D932D_label_en-US" xlink:label="lab_us-gaap_DerivativeAssetNotSubjectToMasterNettingArrangementDeduction_E32F6DA78AB0EE42198523D6D64D932D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Derivative Asset, Not Subject to Master Netting Arrangement Deduction </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_DerivativeAssetNotSubjectToMasterNettingArrangementDeduction" xlink:label="loc_us-gaap_DerivativeAssetNotSubjectToMasterNettingArrangementDeduction_E32F6DA78AB0EE42198523D6D64D932D" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeAssetNotSubjectToMasterNettingArrangementDeduction_E32F6DA78AB0EE42198523D6D64D932D" xlink:to="lab_us-gaap_DerivativeAssetNotSubjectToMasterNettingArrangementDeduction_E32F6DA78AB0EE42198523D6D64D932D" xlink:type="arc"/>

<link:label id="lab_us-gaap_DerivativeCollateralObligationToReturnCash_A3F12E51F599D3B1C02723D6D64DF771_negatedLabel_en-US" xlink:label="lab_us-gaap_DerivativeCollateralObligationToReturnCash_A3F12E51F599D3B1C02723D6D64DF771" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US"> Cash Collateral Pledged/ (Received), Derivative assets </link:label>

<link:label id="lab_us-gaap_DerivativeCollateralObligationToReturnCash_A3F12E51F599D3B1C02723D6D64DF771_label_en-US" xlink:label="lab_us-gaap_DerivativeCollateralObligationToReturnCash_A3F12E51F599D3B1C02723D6D64DF771" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Derivative, Collateral, Obligation to Return Cash </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_DerivativeCollateralObligationToReturnCash" xlink:label="loc_us-gaap_DerivativeCollateralObligationToReturnCash_A3F12E51F599D3B1C02723D6D64DF771" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeCollateralObligationToReturnCash_A3F12E51F599D3B1C02723D6D64DF771" xlink:to="lab_us-gaap_DerivativeCollateralObligationToReturnCash_A3F12E51F599D3B1C02723D6D64DF771" xlink:type="arc"/>

<link:label id="lab_us-gaap_DerivativeAssetFairValueOffsetAgainstCollateralNetOfNotSubjectToMasterNettingArrangementPolicyElection_E1D9FDCBF76FACCFFC9B23D6D64D049E_totalLabel_en-US" xlink:label="lab_us-gaap_DerivativeAssetFairValueOffsetAgainstCollateralNetOfNotSubjectToMasterNettingArrangementPolicyElection_E1D9FDCBF76FACCFFC9B23D6D64D049E" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US"> Net Amount </link:label>

<link:label id="lab_us-gaap_DerivativeAssetFairValueOffsetAgainstCollateralNetOfNotSubjectToMasterNettingArrangementPolicyElection_E1D9FDCBF76FACCFFC9B23D6D64D049E_label_en-US" xlink:label="lab_us-gaap_DerivativeAssetFairValueOffsetAgainstCollateralNetOfNotSubjectToMasterNettingArrangementPolicyElection_E1D9FDCBF76FACCFFC9B23D6D64D049E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Derivative Asset, Fair Value, Offset Against Collateral, Net of Not Subject to Master Netting Arrangement, Policy Election </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_DerivativeAssetFairValueOffsetAgainstCollateralNetOfNotSubjectToMasterNettingArrangementPolicyElection" xlink:label="loc_us-gaap_DerivativeAssetFairValueOffsetAgainstCollateralNetOfNotSubjectToMasterNettingArrangementPolicyElection_E1D9FDCBF76FACCFFC9B23D6D64D049E" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeAssetFairValueOffsetAgainstCollateralNetOfNotSubjectToMasterNettingArrangementPolicyElection_E1D9FDCBF76FACCFFC9B23D6D64D049E" xlink:to="lab_us-gaap_DerivativeAssetFairValueOffsetAgainstCollateralNetOfNotSubjectToMasterNettingArrangementPolicyElection_E1D9FDCBF76FACCFFC9B23D6D64D049E" xlink:type="arc"/>

<link:label id="lab_us-gaap_MarginDepositAssets_7DED054278E5BE9BD58E23D6D64D934A_terseLabel_en-US" xlink:label="lab_us-gaap_MarginDepositAssets_7DED054278E5BE9BD58E23D6D64D934A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Variable margin balances </link:label>

<link:label id="lab_us-gaap_MarginDepositAssets_7DED054278E5BE9BD58E23D6D64D934A_label_en-US" xlink:label="lab_us-gaap_MarginDepositAssets_7DED054278E5BE9BD58E23D6D64D934A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Margin Deposit Assets </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_MarginDepositAssets" xlink:label="loc_us-gaap_MarginDepositAssets_7DED054278E5BE9BD58E23D6D64D934A" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_MarginDepositAssets_7DED054278E5BE9BD58E23D6D64D934A" xlink:to="lab_us-gaap_MarginDepositAssets_7DED054278E5BE9BD58E23D6D64D934A" xlink:type="arc"/>

<link:label id="lab_us-gaap_DerivativeFairValueOfDerivativeLiability_FF081415172DC8FCE9AF23D6D64D9947_negatedLabel_en-US" xlink:label="lab_us-gaap_DerivativeFairValueOfDerivativeLiability_FF081415172DC8FCE9AF23D6D64D9947" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US"> Gross Amount of Recognized Liabilities, Derivative liabilities </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_DerivativeFairValueOfDerivativeLiability" xlink:label="loc_us-gaap_DerivativeFairValueOfDerivativeLiability_FF081415172DC8FCE9AF23D6D64D9947" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeFairValueOfDerivativeLiability_FF081415172DC8FCE9AF23D6D64D9947" xlink:to="lab_us-gaap_DerivativeFairValueOfDerivativeLiability_FF081415172DC8FCE9AF23D6D64D9947" xlink:type="arc"/>

<link:label id="lab_us-gaap_DerivativeLiabilityFairValueGrossAsset_98B1EE96B98BD3695AF823D6D64D6CCE_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativeLiabilityFairValueGrossAsset_98B1EE96B98BD3695AF823D6D64D6CCE" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Gross Amount Offset in the Consolidated Balance Sheet, Derivative liabilities </link:label>

<link:label id="lab_us-gaap_DerivativeLiabilityFairValueGrossAsset_98B1EE96B98BD3695AF823D6D64D6CCE_label_en-US" xlink:label="lab_us-gaap_DerivativeLiabilityFairValueGrossAsset_98B1EE96B98BD3695AF823D6D64D6CCE" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Derivative Liability, Fair Value, Gross Asset </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_DerivativeLiabilityFairValueGrossAsset" xlink:label="loc_us-gaap_DerivativeLiabilityFairValueGrossAsset_98B1EE96B98BD3695AF823D6D64D6CCE" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeLiabilityFairValueGrossAsset_98B1EE96B98BD3695AF823D6D64D6CCE" xlink:to="lab_us-gaap_DerivativeLiabilityFairValueGrossAsset_98B1EE96B98BD3695AF823D6D64D6CCE" xlink:type="arc"/>

<link:label id="lab_us-gaap_DerivativeLiabilities_1BC6D6202748B404596723D6D64DEABC_negatedTotalLabel_en-US" xlink:label="lab_us-gaap_DerivativeLiabilities_1BC6D6202748B404596723D6D64DEABC" xlink:role="http://www.xbrl.org/2009/role/negatedTotalLabel" xlink:type="resource" xml:lang="en-US"> Net Amount Presented in the Consolidated Balance Sheet, Derivative liabilities </link:label>

<link:label id="lab_us-gaap_DerivativeLiabilities_1BC6D6202748B404596723D6D64DEABC_label_en-US" xlink:label="lab_us-gaap_DerivativeLiabilities_1BC6D6202748B404596723D6D64DEABC" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Derivative Liability </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_DerivativeLiabilities" xlink:label="loc_us-gaap_DerivativeLiabilities_1BC6D6202748B404596723D6D64DEABC" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeLiabilities_1BC6D6202748B404596723D6D64DEABC" xlink:to="lab_us-gaap_DerivativeLiabilities_1BC6D6202748B404596723D6D64DEABC" xlink:type="arc"/>

<link:label id="lab_us-gaap_DerivativeLiabilityNotSubjectToMasterNettingArrangementDeduction_EE1495BD0C30D481CAA023D6D64EDE4B_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativeLiabilityNotSubjectToMasterNettingArrangementDeduction_EE1495BD0C30D481CAA023D6D64EDE4B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Derivative Financial Instruments, Derivative liabilities </link:label>

<link:label id="lab_us-gaap_DerivativeLiabilityNotSubjectToMasterNettingArrangementDeduction_EE1495BD0C30D481CAA023D6D64EDE4B_label_en-US" xlink:label="lab_us-gaap_DerivativeLiabilityNotSubjectToMasterNettingArrangementDeduction_EE1495BD0C30D481CAA023D6D64EDE4B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Derivative Liability, Not Subject to Master Netting Arrangement Deduction </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_DerivativeLiabilityNotSubjectToMasterNettingArrangementDeduction" xlink:label="loc_us-gaap_DerivativeLiabilityNotSubjectToMasterNettingArrangementDeduction_EE1495BD0C30D481CAA023D6D64EDE4B" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeLiabilityNotSubjectToMasterNettingArrangementDeduction_EE1495BD0C30D481CAA023D6D64EDE4B" xlink:to="lab_us-gaap_DerivativeLiabilityNotSubjectToMasterNettingArrangementDeduction_EE1495BD0C30D481CAA023D6D64EDE4B" xlink:type="arc"/>

<link:label id="lab_us-gaap_DerivativeCollateralRightToReclaimCash_02DA97A54E0DE47A8DCB23D6D64E9460_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativeCollateralRightToReclaimCash_02DA97A54E0DE47A8DCB23D6D64E9460" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Cash Collateral Pledged/ (Received), Derivative liabilities </link:label>

<link:label id="lab_us-gaap_DerivativeCollateralRightToReclaimCash_02DA97A54E0DE47A8DCB23D6D64E9460_label_en-US" xlink:label="lab_us-gaap_DerivativeCollateralRightToReclaimCash_02DA97A54E0DE47A8DCB23D6D64E9460" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Derivative, Collateral, Right to Reclaim Cash </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_DerivativeCollateralRightToReclaimCash" xlink:label="loc_us-gaap_DerivativeCollateralRightToReclaimCash_02DA97A54E0DE47A8DCB23D6D64E9460" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeCollateralRightToReclaimCash_02DA97A54E0DE47A8DCB23D6D64E9460" xlink:to="lab_us-gaap_DerivativeCollateralRightToReclaimCash_02DA97A54E0DE47A8DCB23D6D64E9460" xlink:type="arc"/>

<link:label id="lab_us-gaap_DerivativeLiabilityFairValueOffsetAgainstCollateralNetOfNotSubjectToMasterNettingArrangementPolicyElection_956B7252A3FDF4C6EA7E23D6D64E9B28_negatedTotalLabel_en-US" xlink:label="lab_us-gaap_DerivativeLiabilityFairValueOffsetAgainstCollateralNetOfNotSubjectToMasterNettingArrangementPolicyElection_956B7252A3FDF4C6EA7E23D6D64E9B28" xlink:role="http://www.xbrl.org/2009/role/negatedTotalLabel" xlink:type="resource" xml:lang="en-US"> Net Amount </link:label>

<link:label id="lab_us-gaap_DerivativeLiabilityFairValueOffsetAgainstCollateralNetOfNotSubjectToMasterNettingArrangementPolicyElection_956B7252A3FDF4C6EA7E23D6D64E9B28_label_en-US" xlink:label="lab_us-gaap_DerivativeLiabilityFairValueOffsetAgainstCollateralNetOfNotSubjectToMasterNettingArrangementPolicyElection_956B7252A3FDF4C6EA7E23D6D64E9B28" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Derivative Liability, Fair Value, Offset Against Collateral, Net of Not Subject to Master Netting Arrangement, Policy Election </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_DerivativeLiabilityFairValueOffsetAgainstCollateralNetOfNotSubjectToMasterNettingArrangementPolicyElection" xlink:label="loc_us-gaap_DerivativeLiabilityFairValueOffsetAgainstCollateralNetOfNotSubjectToMasterNettingArrangementPolicyElection_956B7252A3FDF4C6EA7E23D6D64E9B28" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeLiabilityFairValueOffsetAgainstCollateralNetOfNotSubjectToMasterNettingArrangementPolicyElection_956B7252A3FDF4C6EA7E23D6D64E9B28" xlink:to="lab_us-gaap_DerivativeLiabilityFairValueOffsetAgainstCollateralNetOfNotSubjectToMasterNettingArrangementPolicyElection_956B7252A3FDF4C6EA7E23D6D64E9B28" xlink:type="arc"/>

<link:label id="lab_cit_MarginDepositLiabilities_18F6E0B7341842221E5E23D6D64E31B0_terseLabel_en-US" xlink:label="lab_cit_MarginDepositLiabilities_18F6E0B7341842221E5E23D6D64E31B0" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Variable margin balances </link:label>

<link:label id="lab_cit_MarginDepositLiabilities_18F6E0B7341842221E5E23D6D64E31B0_label_en-US" xlink:label="lab_cit_MarginDepositLiabilities_18F6E0B7341842221E5E23D6D64E31B0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Margin Deposit Liabilities </link:label>

<link:label id="lab_cit_MarginDepositLiabilities_18F6E0B7341842221E5E23D6D64E31B0_documentation_en-US" xlink:label="lab_cit_MarginDepositLiabilities_18F6E0B7341842221E5E23D6D64E31B0" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Margin Deposit Liabilities </link:label>

<link:loc xlink:href="cit-20180331.xsd#cit_MarginDepositLiabilities" xlink:label="loc_cit_MarginDepositLiabilities_18F6E0B7341842221E5E23D6D64E31B0" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cit_MarginDepositLiabilities_18F6E0B7341842221E5E23D6D64E31B0" xlink:to="lab_cit_MarginDepositLiabilities_18F6E0B7341842221E5E23D6D64E31B0" xlink:type="arc"/>

<link:label id="lab_us-gaap_InvestmentsDebtAndEquitySecuritiesAbstract_C17E9BB59F1E2097BBC2071F6FB940EE_label_en-US" xlink:label="lab_us-gaap_InvestmentsDebtAndEquitySecuritiesAbstract_43C2FC6E6EDF5B21966D9A791E6EBC1D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Investments, Debt and Equity Securities [Abstract] </link:label>

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<link:label id="lab_us-gaap_MortgageBackedSecuritiesIssuedByPrivateEnterprisesMember_C64D1E592A6DDD5C242F024ACD9A38A7_terseLabel_en-US" xlink:label="lab_us-gaap_MortgageBackedSecuritiesIssuedByPrivateEnterprisesMember_C64D1E592A6DDD5C242F024ACD9A38A7" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Non-agency securities </link:label>

<link:label id="lab_us-gaap_MortgageBackedSecuritiesIssuedByPrivateEnterprisesMember_C64D1E592A6DDD5C242F024ACD9A38A7_label_en-US" xlink:label="lab_us-gaap_MortgageBackedSecuritiesIssuedByPrivateEnterprisesMember_C64D1E592A6DDD5C242F024ACD9A38A7" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Mortgage-backed Securities, Issued by Private Enterprises [Member] </link:label>

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<link:label id="lab_us-gaap_USGovernmentAgenciesDebtSecuritiesMember_BF7ABCAE2E5F6370BFC8024ACD9A09ED_terseLabel_en-US" xlink:label="lab_us-gaap_USGovernmentAgenciesDebtSecuritiesMember_BF7ABCAE2E5F6370BFC8024ACD9A09ED" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> U.S. government agency obligations </link:label>

<link:label id="lab_us-gaap_USGovernmentAgenciesDebtSecuritiesMember_BF7ABCAE2E5F6370BFC8024ACD9A09ED_label_en-US" xlink:label="lab_us-gaap_USGovernmentAgenciesDebtSecuritiesMember_BF7ABCAE2E5F6370BFC8024ACD9A09ED" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> US Government Agencies Debt Securities [Member] </link:label>

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<link:label id="lab_us-gaap_USTreasurySecuritiesMember_8063402BA5A3D55100AE024ACD9A5312_terseLabel_en-US" xlink:label="lab_us-gaap_USTreasurySecuritiesMember_8063402BA5A3D55100AE024ACD9A5312" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> U.S. Treasury securities </link:label>

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<link:label id="lab_cit_SupranationalSecuritiesMember_CD832D41796B1919C6E6024ACD9A7D7F_terseLabel_en-US" xlink:label="lab_cit_SupranationalSecuritiesMember_CD832D41796B1919C6E6024ACD9A7D7F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Supranational securities </link:label>

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<link:label id="lab_us-gaap_USStatesAndPoliticalSubdivisionsMember_227CA767A4744F308A09024ACD9AAC04_terseLabel_en-US" xlink:label="lab_us-gaap_USStatesAndPoliticalSubdivisionsMember_227CA767A4744F308A09024ACD9AAC04" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> State & municipal bonds </link:label>

<link:label id="lab_us-gaap_USStatesAndPoliticalSubdivisionsMember_227CA767A4744F308A09024ACD9AAC04_label_en-US" xlink:label="lab_us-gaap_USStatesAndPoliticalSubdivisionsMember_227CA767A4744F308A09024ACD9AAC04" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> US States and Political Subdivisions Debt Securities [Member] </link:label>

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<link:label id="lab_us-gaap_ForeignCorporateDebtSecuritiesMember_C9EF90C8D565431BBBFC024ACD9A6380_terseLabel_en-US" xlink:label="lab_us-gaap_ForeignCorporateDebtSecuritiesMember_C9EF90C8D565431BBBFC024ACD9A6380" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Corporate bonds - foreign </link:label>

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<link:label id="lab_us-gaap_ScheduleOfAvailableForSaleSecuritiesLineItems_7CAA744226DD40061465024ACD9ABBE6_label_en-US" xlink:label="lab_us-gaap_ScheduleOfAvailableForSaleSecuritiesLineItems_7CAA744226DD40061465024ACD9ABBE6" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Schedule of Available-for-sale Securities [Line Items] </link:label>

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<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfAvailableForSaleSecuritiesLineItems_7CAA744226DD40061465024ACD9ABBE6" xlink:to="lab_us-gaap_ScheduleOfAvailableForSaleSecuritiesLineItems_7CAA744226DD40061465024ACD9ABBE6" xlink:type="arc"/>

<link:label id="lab_us-gaap_AvailableForSaleSecuritiesAmortizedCost_76B8BB2E2EB15F0D0848024ACD9A1559_totalLabel_en-US" xlink:label="lab_us-gaap_AvailableForSaleSecuritiesAmortizedCost_76B8BB2E2EB15F0D0848024ACD9A1559" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US"> Amortized Cost </link:label>

<link:label id="lab_us-gaap_AvailableForSaleSecuritiesAmortizedCost_76B8BB2E2EB15F0D0848024ACD9A1559_label_en-US" xlink:label="lab_us-gaap_AvailableForSaleSecuritiesAmortizedCost_76B8BB2E2EB15F0D0848024ACD9A1559" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Available-for-sale Securities, Amortized Cost Basis </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_AvailableForSaleSecuritiesAmortizedCost" xlink:label="loc_us-gaap_AvailableForSaleSecuritiesAmortizedCost_76B8BB2E2EB15F0D0848024ACD9A1559" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AvailableForSaleSecuritiesAmortizedCost_76B8BB2E2EB15F0D0848024ACD9A1559" xlink:to="lab_us-gaap_AvailableForSaleSecuritiesAmortizedCost_76B8BB2E2EB15F0D0848024ACD9A1559" xlink:type="arc"/>

<link:label id="lab_us-gaap_AvailableForSaleSecuritiesAccumulatedGrossUnrealizedGainBeforeTax_BBF53E3FA5E85DE84EF2024ACD9A31B3_terseLabel_en-US" xlink:label="lab_us-gaap_AvailableForSaleSecuritiesAccumulatedGrossUnrealizedGainBeforeTax_BBF53E3FA5E85DE84EF2024ACD9A31B3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Gross Unrealized Gains </link:label>

<link:label id="lab_us-gaap_AvailableForSaleSecuritiesAccumulatedGrossUnrealizedGainBeforeTax_BBF53E3FA5E85DE84EF2024ACD9A31B3_label_en-US" xlink:label="lab_us-gaap_AvailableForSaleSecuritiesAccumulatedGrossUnrealizedGainBeforeTax_BBF53E3FA5E85DE84EF2024ACD9A31B3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Available-for-sale Securities, Accumulated Gross Unrealized Gain, before Tax </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_AvailableForSaleSecuritiesAccumulatedGrossUnrealizedGainBeforeTax" xlink:label="loc_us-gaap_AvailableForSaleSecuritiesAccumulatedGrossUnrealizedGainBeforeTax_BBF53E3FA5E85DE84EF2024ACD9A31B3" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AvailableForSaleSecuritiesAccumulatedGrossUnrealizedGainBeforeTax_BBF53E3FA5E85DE84EF2024ACD9A31B3" xlink:to="lab_us-gaap_AvailableForSaleSecuritiesAccumulatedGrossUnrealizedGainBeforeTax_BBF53E3FA5E85DE84EF2024ACD9A31B3" xlink:type="arc"/>

<link:label id="lab_us-gaap_AvailableForSaleSecuritiesAccumulatedGrossUnrealizedLossBeforeTax_97D32C916D087429C409024ACD9AD2CB_negatedLabel_en-US" xlink:label="lab_us-gaap_AvailableForSaleSecuritiesAccumulatedGrossUnrealizedLossBeforeTax_97D32C916D087429C409024ACD9AD2CB" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US"> Gross Unrealized Losses </link:label>

<link:label id="lab_us-gaap_AvailableForSaleSecuritiesAccumulatedGrossUnrealizedLossBeforeTax_97D32C916D087429C409024ACD9AD2CB_label_en-US" xlink:label="lab_us-gaap_AvailableForSaleSecuritiesAccumulatedGrossUnrealizedLossBeforeTax_97D32C916D087429C409024ACD9AD2CB" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_AvailableForSaleSecuritiesAccumulatedGrossUnrealizedLossBeforeTax" xlink:label="loc_us-gaap_AvailableForSaleSecuritiesAccumulatedGrossUnrealizedLossBeforeTax_97D32C916D087429C409024ACD9AD2CB" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AvailableForSaleSecuritiesAccumulatedGrossUnrealizedLossBeforeTax_97D32C916D087429C409024ACD9AD2CB" xlink:to="lab_us-gaap_AvailableForSaleSecuritiesAccumulatedGrossUnrealizedLossBeforeTax_97D32C916D087429C409024ACD9AD2CB" xlink:type="arc"/>

<link:label id="lab_us-gaap_AvailableForSaleSecurities_A1BAF13222F2DB3871A2024ACD9AB959_verboseLabel_en-US" xlink:label="lab_us-gaap_AvailableForSaleSecurities_A1BAF13222F2DB3871A2024ACD9AB959" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Fair Value </link:label>

<link:label id="lab_us-gaap_AvailableForSaleSecurities_A1BAF13222F2DB3871A2024ACD9AB959_label_en-US" xlink:label="lab_us-gaap_AvailableForSaleSecurities_A1BAF13222F2DB3871A2024ACD9AB959" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Available-for-sale Securities </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_AvailableForSaleSecurities" xlink:label="loc_us-gaap_AvailableForSaleSecurities_A1BAF13222F2DB3871A2024ACD9AB959" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AvailableForSaleSecurities_A1BAF13222F2DB3871A2024ACD9AB959" xlink:to="lab_us-gaap_AvailableForSaleSecurities_A1BAF13222F2DB3871A2024ACD9AB959" xlink:type="arc"/>

<link:label id="lab_cit_AerospaceMember_FAFF8C5864EF0D81B09C27BDCA8CE58D_terseLabel_en-US" xlink:label="lab_cit_AerospaceMember_FAFF8C5864EF0D81B09C27BDCA8CE58D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Aerospace </link:label>

<link:label id="lab_cit_AerospaceMember_FAFF8C5864EF0D81B09C27BDCA8CE58D_label_en-US" xlink:label="lab_cit_AerospaceMember_FAFF8C5864EF0D81B09C27BDCA8CE58D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Aerospace [Member] </link:label>

<link:label id="lab_cit_AerospaceMember_FAFF8C5864EF0D81B09C27BDCA8CE58D_documentation_en-US" xlink:label="lab_cit_AerospaceMember_FAFF8C5864EF0D81B09C27BDCA8CE58D" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Combination of Commercial Air and Business Air businesses. </link:label>

<link:loc xlink:href="cit-20180331.xsd#cit_AerospaceMember" xlink:label="loc_cit_AerospaceMember_FAFF8C5864EF0D81B09C27BDCA8CE58D" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cit_AerospaceMember_FAFF8C5864EF0D81B09C27BDCA8CE58D" xlink:to="lab_cit_AerospaceMember_FAFF8C5864EF0D81B09C27BDCA8CE58D" xlink:type="arc"/>

<link:label id="lab_us-gaap_DisposalGroupIncludingDiscontinuedOperationRentalIncome_0B7ED848C11ECF6E31F027BDCA8D2867_terseLabel_en-US" xlink:label="lab_us-gaap_DisposalGroupIncludingDiscontinuedOperationRentalIncome_0B7ED848C11ECF6E31F027BDCA8D2867" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Rental income on operating leases </link:label>

<link:label id="lab_us-gaap_DisposalGroupIncludingDiscontinuedOperationRentalIncome_0B7ED848C11ECF6E31F027BDCA8D2867_label_en-US" xlink:label="lab_us-gaap_DisposalGroupIncludingDiscontinuedOperationRentalIncome_0B7ED848C11ECF6E31F027BDCA8D2867" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Disposal Group, Including Discontinued Operation, Rental Income </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_DisposalGroupIncludingDiscontinuedOperationRentalIncome" xlink:label="loc_us-gaap_DisposalGroupIncludingDiscontinuedOperationRentalIncome_0B7ED848C11ECF6E31F027BDCA8D2867" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DisposalGroupIncludingDiscontinuedOperationRentalIncome_0B7ED848C11ECF6E31F027BDCA8D2867" xlink:to="lab_us-gaap_DisposalGroupIncludingDiscontinuedOperationRentalIncome_0B7ED848C11ECF6E31F027BDCA8D2867" xlink:type="arc"/>

<link:label id="lab_cit_DisposalGroupIncludingDiscontinuedOperationOtherIncomeLoss_9285EF5A080CDF1C92A127BDCA8D4D72_terseLabel_en-US" xlink:label="lab_cit_DisposalGroupIncludingDiscontinuedOperationOtherIncomeLoss_9285EF5A080CDF1C92A127BDCA8D4D72" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Other income (losses) </link:label>

<link:loc xlink:href="cit-20180331.xsd#cit_DisposalGroupIncludingDiscontinuedOperationOtherIncomeLoss" xlink:label="loc_cit_DisposalGroupIncludingDiscontinuedOperationOtherIncomeLoss_9285EF5A080CDF1C92A127BDCA8D4D72" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cit_DisposalGroupIncludingDiscontinuedOperationOtherIncomeLoss_9285EF5A080CDF1C92A127BDCA8D4D72" xlink:to="lab_cit_DisposalGroupIncludingDiscontinuedOperationOtherIncomeLoss_9285EF5A080CDF1C92A127BDCA8D4D72" xlink:type="arc"/>

<link:label id="lab_us-gaap_DisposalGroupIncludingDiscontinuedOperationOtherExpense_E061B73CB71BF20B8D7727BDCA8DE825_terseLabel_en-US" xlink:label="lab_us-gaap_DisposalGroupIncludingDiscontinuedOperationOtherExpense_E061B73CB71BF20B8D7727BDCA8DE825" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Maintenance and other operating lease expenses </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_DisposalGroupIncludingDiscontinuedOperationOtherExpense" xlink:label="loc_us-gaap_DisposalGroupIncludingDiscontinuedOperationOtherExpense_E061B73CB71BF20B8D7727BDCA8DE825" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DisposalGroupIncludingDiscontinuedOperationOtherExpense_E061B73CB71BF20B8D7727BDCA8DE825" xlink:to="lab_us-gaap_DisposalGroupIncludingDiscontinuedOperationOtherExpense_E061B73CB71BF20B8D7727BDCA8DE825" xlink:type="arc"/>

<link:label id="lab_cit_DisposalGroupIncludingDiscontinuedOperationGainLossOnExtinguishmentOfDebt_E6A8840976430F0EC0A827BDCA8D1388_negatedTerseLabel_en-US" xlink:label="lab_cit_DisposalGroupIncludingDiscontinuedOperationGainLossOnExtinguishmentOfDebt_E6A8840976430F0EC0A827BDCA8D1388" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US"> Loss on debt extinguishment </link:label>

<link:label id="lab_cit_DisposalGroupIncludingDiscontinuedOperationGainLossOnExtinguishmentOfDebt_E6A8840976430F0EC0A827BDCA8D1388_label_en-US" xlink:label="lab_cit_DisposalGroupIncludingDiscontinuedOperationGainLossOnExtinguishmentOfDebt_E6A8840976430F0EC0A827BDCA8D1388" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Disposal Group, Including Discontinued Operation, Gain (Loss) on Extinguishment of Debt </link:label>

<link:label id="lab_cit_DisposalGroupIncludingDiscontinuedOperationGainLossOnExtinguishmentOfDebt_E6A8840976430F0EC0A827BDCA8D1388_documentation_en-US" xlink:label="lab_cit_DisposalGroupIncludingDiscontinuedOperationGainLossOnExtinguishmentOfDebt_E6A8840976430F0EC0A827BDCA8D1388" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Difference between the fair value of payments made and the carrying amount of debt which is extinguished prior to maturity for discontinued operations. </link:label>

<link:loc xlink:href="cit-20180331.xsd#cit_DisposalGroupIncludingDiscontinuedOperationGainLossOnExtinguishmentOfDebt" xlink:label="loc_cit_DisposalGroupIncludingDiscontinuedOperationGainLossOnExtinguishmentOfDebt_E6A8840976430F0EC0A827BDCA8D1388" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cit_DisposalGroupIncludingDiscontinuedOperationGainLossOnExtinguishmentOfDebt_E6A8840976430F0EC0A827BDCA8D1388" xlink:to="lab_cit_DisposalGroupIncludingDiscontinuedOperationGainLossOnExtinguishmentOfDebt_E6A8840976430F0EC0A827BDCA8D1388" xlink:type="arc"/>

<link:label id="lab_us-gaap_DiscontinuedOperationTaxEffectOfIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriod_F019626ADB3652010BF227BDCA8D722A_negatedLabel_en-US" xlink:label="lab_us-gaap_DiscontinuedOperationTaxEffectOfIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriod_F019626ADB3652010BF227BDCA8D722A" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US"> (Benefit) provision for income taxes </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_DiscontinuedOperationTaxEffectOfIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriod" xlink:label="loc_us-gaap_DiscontinuedOperationTaxEffectOfIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriod_F019626ADB3652010BF227BDCA8D722A" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DiscontinuedOperationTaxEffectOfIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriod_F019626ADB3652010BF227BDCA8D722A" xlink:to="lab_us-gaap_DiscontinuedOperationTaxEffectOfIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriod_F019626ADB3652010BF227BDCA8D722A" xlink:type="arc"/>

<link:label id="lab_cit_DiscontinuedOperationsRepaymentsForProceedsFromSecuredBorrowings_49D7FB6482E421324C0427BDCA8D46CE_terseLabel_en-US" xlink:label="lab_cit_DiscontinuedOperationsRepaymentsForProceedsFromSecuredBorrowings_49D7FB6482E421324C0427BDCA8D46CE" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Repayment of debt </link:label>

<link:label id="lab_cit_DiscontinuedOperationsRepaymentsForProceedsFromSecuredBorrowings_49D7FB6482E421324C0427BDCA8D46CE_label_en-US" xlink:label="lab_cit_DiscontinuedOperationsRepaymentsForProceedsFromSecuredBorrowings_49D7FB6482E421324C0427BDCA8D46CE" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Discontinued Operations, Repayments For (Proceeds From) Secured Borrowings </link:label>

<link:label id="lab_cit_DiscontinuedOperationsRepaymentsForProceedsFromSecuredBorrowings_49D7FB6482E421324C0427BDCA8D46CE_documentation_en-US" xlink:label="lab_cit_DiscontinuedOperationsRepaymentsForProceedsFromSecuredBorrowings_49D7FB6482E421324C0427BDCA8D46CE" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Discontinued Operations, Repayments For (Proceeds From) Secured Borrowings. </link:label>

<link:loc xlink:href="cit-20180331.xsd#cit_DiscontinuedOperationsRepaymentsForProceedsFromSecuredBorrowings" xlink:label="loc_cit_DiscontinuedOperationsRepaymentsForProceedsFromSecuredBorrowings_49D7FB6482E421324C0427BDCA8D46CE" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cit_DiscontinuedOperationsRepaymentsForProceedsFromSecuredBorrowings_49D7FB6482E421324C0427BDCA8D46CE" xlink:to="lab_cit_DiscontinuedOperationsRepaymentsForProceedsFromSecuredBorrowings_49D7FB6482E421324C0427BDCA8D46CE" xlink:type="arc"/>

<link:label id="lab_us-gaap_CashProvidedByUsedInInvestingActivitiesDiscontinuedOperations_1BC33078C31D6AF5FC5E27BDCA8DB662_terseLabel_en-US" xlink:label="lab_us-gaap_CashProvidedByUsedInInvestingActivitiesDiscontinuedOperations_1BC33078C31D6AF5FC5E27BDCA8DB662" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Net cash flows provided by investing activities </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_CashProvidedByUsedInInvestingActivitiesDiscontinuedOperations" xlink:label="loc_us-gaap_CashProvidedByUsedInInvestingActivitiesDiscontinuedOperations_1BC33078C31D6AF5FC5E27BDCA8DB662" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CashProvidedByUsedInInvestingActivitiesDiscontinuedOperations_1BC33078C31D6AF5FC5E27BDCA8DB662" xlink:to="lab_us-gaap_CashProvidedByUsedInInvestingActivitiesDiscontinuedOperations_1BC33078C31D6AF5FC5E27BDCA8DB662" xlink:type="arc"/>

<link:label id="lab_us-gaap_StatementOfFinancialPositionAbstract_015144C5AE59C052F22E286077413452_label_en-US" xlink:label="lab_us-gaap_StatementOfFinancialPositionAbstract_015144C5AE59C052F22E286077413452" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Statement of Financial Position [Abstract] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_StatementOfFinancialPositionAbstract" xlink:label="loc_us-gaap_StatementOfFinancialPositionAbstract_015144C5AE59C052F22E286077413452" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StatementOfFinancialPositionAbstract_015144C5AE59C052F22E286077413452" xlink:to="lab_us-gaap_StatementOfFinancialPositionAbstract_015144C5AE59C052F22E286077413452" xlink:type="arc"/>

<link:label id="lab_cit_RestrictedCashAndDueFromBanks_E5CF25249932BBCD6BD3286077442F99_terseLabel_en-US" xlink:label="lab_cit_RestrictedCashAndDueFromBanks_E5CF25249932BBCD6BD3286077442F99" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Cash and interest bearing deposits, restricted </link:label>

<link:label id="lab_cit_RestrictedCashAndDueFromBanks_E5CF25249932BBCD6BD3286077442F99_label_en-US" xlink:label="lab_cit_RestrictedCashAndDueFromBanks_E5CF25249932BBCD6BD3286077442F99" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Restricted Cash And Due From Banks </link:label>

<link:label id="lab_cit_RestrictedCashAndDueFromBanks_E5CF25249932BBCD6BD3286077442F99_documentation_en-US" xlink:label="lab_cit_RestrictedCashAndDueFromBanks_E5CF25249932BBCD6BD3286077442F99" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Restricted Cash And Due From Banks. </link:label>

<link:loc xlink:href="cit-20180331.xsd#cit_RestrictedCashAndDueFromBanks" xlink:label="loc_cit_RestrictedCashAndDueFromBanks_E5CF25249932BBCD6BD3286077442F99" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cit_RestrictedCashAndDueFromBanks_E5CF25249932BBCD6BD3286077442F99" xlink:to="lab_cit_RestrictedCashAndDueFromBanks_E5CF25249932BBCD6BD3286077442F99" xlink:type="arc"/>

<link:label id="lab_cit_RestrictedInterestBearingDepositsInBanks_951DAC8EAA537AFC85A228607745B210_terseLabel_en-US" xlink:label="lab_cit_RestrictedInterestBearingDepositsInBanks_951DAC8EAA537AFC85A228607745B210" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Restricted interest-bearing deposits </link:label>

<link:label id="lab_cit_RestrictedInterestBearingDepositsInBanks_951DAC8EAA537AFC85A228607745B210_label_en-US" xlink:label="lab_cit_RestrictedInterestBearingDepositsInBanks_951DAC8EAA537AFC85A228607745B210" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Restricted Interest Bearing Deposits In Banks </link:label>

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<link:label id="lab_us-gaap_PreferredStockParOrStatedValuePerShare_2B1DBFD4AF42EBEB0CA328607745D6E7_label_en-US" xlink:label="lab_us-gaap_PreferredStockParOrStatedValuePerShare_2B1DBFD4AF42EBEB0CA328607745D6E7" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Preferred Stock, Par or Stated Value Per Share </link:label>

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<link:label id="lab_us-gaap_PreferredStockSharesAuthorized_A90AA1538EC2BF96744828607745A2DF_label_en-US" xlink:label="lab_us-gaap_PreferredStockSharesAuthorized_A90AA1538EC2BF96744828607745A2DF" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Preferred Stock, Shares Authorized </link:label>

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<link:label id="lab_us-gaap_PreferredStockSharesIssued_E5DADF931A552CF369CF286077464729_terseLabel_en-US" xlink:label="lab_us-gaap_PreferredStockSharesIssued_E5DADF931A552CF369CF286077464729" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Preferred Stock, shares issued (in shares) </link:label>

<link:label id="lab_us-gaap_PreferredStockSharesIssued_E5DADF931A552CF369CF286077464729_label_en-US" xlink:label="lab_us-gaap_PreferredStockSharesIssued_E5DADF931A552CF369CF286077464729" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Preferred Stock, Shares Issued </link:label>

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<link:label id="lab_us-gaap_PreferredStockSharesOutstanding_EBBF76E1EBF6386FADB3286077463DEE_terseLabel_en-US" xlink:label="lab_us-gaap_PreferredStockSharesOutstanding_EBBF76E1EBF6386FADB3286077463DEE" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Preferred Stock, shares outstanding (in shares) </link:label>

<link:label id="lab_us-gaap_PreferredStockSharesOutstanding_EBBF76E1EBF6386FADB3286077463DEE_label_en-US" xlink:label="lab_us-gaap_PreferredStockSharesOutstanding_EBBF76E1EBF6386FADB3286077463DEE" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Preferred Stock, Shares Outstanding </link:label>

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<link:label id="lab_us-gaap_CommonStockParOrStatedValuePerShare_323DB7A3F57EE7C41CD62860774690D8_label_en-US" xlink:label="lab_us-gaap_CommonStockParOrStatedValuePerShare_323DB7A3F57EE7C41CD62860774690D8" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Common Stock, Par or Stated Value Per Share </link:label>

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<link:label id="lab_us-gaap_ConsolidationItemsAxis_8C8F5E409C88BCC8C91308C53E6A32D2_terseLabel_en-US" xlink:label="lab_us-gaap_ConsolidationItemsAxis_8C8F5E409C88BCC8C91308C53E6A32D2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Consolidation Items [Axis] </link:label>

<link:label id="lab_us-gaap_ConsolidationItemsAxis_8C8F5E409C88BCC8C91308C53E6A32D2_label_en-US" xlink:label="lab_us-gaap_ConsolidationItemsAxis_8C8F5E409C88BCC8C91308C53E6A32D2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Consolidation Items [Axis] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ConsolidationItemsAxis" xlink:label="loc_us-gaap_ConsolidationItemsAxis_8C8F5E409C88BCC8C91308C53E6A32D2" xlink:type="locator"/>

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<link:label id="lab_us-gaap_ConsolidationItemsDomain_EBF9EBB0DD950711816908C53E6F42F5_terseLabel_en-US" xlink:label="lab_us-gaap_ConsolidationItemsDomain_EBF9EBB0DD950711816908C53E6F42F5" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Consolidation Items [Domain] </link:label>

<link:label id="lab_us-gaap_ConsolidationItemsDomain_EBF9EBB0DD950711816908C53E6F42F5_label_en-US" xlink:label="lab_us-gaap_ConsolidationItemsDomain_EBF9EBB0DD950711816908C53E6F42F5" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Consolidation Items [Domain] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ConsolidationItemsDomain" xlink:label="loc_us-gaap_ConsolidationItemsDomain_EBF9EBB0DD950711816908C53E6F42F5" xlink:type="locator"/>

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<link:label id="lab_us-gaap_OperatingSegmentsMember_F6B26981EAC847B2864308C53E703C16_terseLabel_en-US" xlink:label="lab_us-gaap_OperatingSegmentsMember_F6B26981EAC847B2864308C53E703C16" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Operating Segments </link:label>

<link:label id="lab_us-gaap_OperatingSegmentsMember_F6B26981EAC847B2864308C53E703C16_label_en-US" xlink:label="lab_us-gaap_OperatingSegmentsMember_F6B26981EAC847B2864308C53E703C16" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Operating Segments [Member] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_OperatingSegmentsMember" xlink:label="loc_us-gaap_OperatingSegmentsMember_F6B26981EAC847B2864308C53E703C16" xlink:type="locator"/>

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<link:label id="lab_us-gaap_CorporateNonSegmentMember_2188FB7683C20AE1B88808C53E70F0B8_terseLabel_en-US" xlink:label="lab_us-gaap_CorporateNonSegmentMember_2188FB7683C20AE1B88808C53E70F0B8" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Corporate and Other </link:label>

<link:label id="lab_us-gaap_CorporateNonSegmentMember_2188FB7683C20AE1B88808C53E70F0B8_label_en-US" xlink:label="lab_us-gaap_CorporateNonSegmentMember_2188FB7683C20AE1B88808C53E70F0B8" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Corporate, Non-Segment [Member] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_CorporateNonSegmentMember" xlink:label="loc_us-gaap_CorporateNonSegmentMember_2188FB7683C20AE1B88808C53E70F0B8" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CorporateNonSegmentMember_2188FB7683C20AE1B88808C53E70F0B8" xlink:to="lab_us-gaap_CorporateNonSegmentMember_2188FB7683C20AE1B88808C53E70F0B8" xlink:type="arc"/>

<link:label id="lab_us-gaap_SegmentReportingInformationLineItems_E3810433E8FB8CCBCE1008C53E709D0E_terseLabel_en-US" xlink:label="lab_us-gaap_SegmentReportingInformationLineItems_E3810433E8FB8CCBCE1008C53E709D0E" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Segment Reporting Information [Line Items] </link:label>

<link:label id="lab_us-gaap_SegmentReportingInformationLineItems_E3810433E8FB8CCBCE1008C53E709D0E_label_en-US" xlink:label="lab_us-gaap_SegmentReportingInformationLineItems_E3810433E8FB8CCBCE1008C53E709D0E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Segment Reporting Information [Line Items] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_SegmentReportingInformationLineItems" xlink:label="loc_us-gaap_SegmentReportingInformationLineItems_E3810433E8FB8CCBCE1008C53E709D0E" xlink:type="locator"/>

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<link:label id="lab_us-gaap_SegmentReportingInformationProfitLossAbstract_2AF45BA7320841266E9C08C53E703E84_terseLabel_en-US" xlink:label="lab_us-gaap_SegmentReportingInformationProfitLossAbstract_2AF45BA7320841266E9C08C53E703E84" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Segment Pre-tax Income (Loss) </link:label>

<link:label id="lab_us-gaap_SegmentReportingInformationProfitLossAbstract_2AF45BA7320841266E9C08C53E703E84_label_en-US" xlink:label="lab_us-gaap_SegmentReportingInformationProfitLossAbstract_2AF45BA7320841266E9C08C53E703E84" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Segment Reporting Information, Profit (Loss) [Abstract] </link:label>

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<link:label id="lab_us-gaap_InterestAndDividendIncomeOperating_CC5D9956B40AF03CBDD908C53E70388C_terseLabel_en-US" xlink:label="lab_us-gaap_InterestAndDividendIncomeOperating_CC5D9956B40AF03CBDD908C53E70388C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Interest income </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_InterestAndDividendIncomeOperating" xlink:label="loc_us-gaap_InterestAndDividendIncomeOperating_CC5D9956B40AF03CBDD908C53E70388C" xlink:type="locator"/>

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<link:label id="lab_us-gaap_InterestExpense_1ECEC09484E5F51864B608C53E702DE6_terseLabel_en-US" xlink:label="lab_us-gaap_InterestExpense_1ECEC09484E5F51864B608C53E702DE6" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Interest (expense) benefit </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_InterestExpense" xlink:label="loc_us-gaap_InterestExpense_1ECEC09484E5F51864B608C53E702DE6" xlink:type="locator"/>

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<link:label id="lab_cit_OperatingExpensesAndLossOnDebtExtinguishment_53D12BDA6DE1BEDBF69908C53E708D65_terseLabel_en-US" xlink:label="lab_cit_OperatingExpensesAndLossOnDebtExtinguishment_53D12BDA6DE1BEDBF69908C53E708D65" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Operating expenses / loss on debt extinguishment and deposit redemption </link:label>

<link:label id="lab_cit_OperatingExpensesAndLossOnDebtExtinguishment_53D12BDA6DE1BEDBF69908C53E708D65_label_en-US" xlink:label="lab_cit_OperatingExpensesAndLossOnDebtExtinguishment_53D12BDA6DE1BEDBF69908C53E708D65" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Operating Expenses And Loss On Debt Extinguishment </link:label>

<link:label id="lab_cit_OperatingExpensesAndLossOnDebtExtinguishment_53D12BDA6DE1BEDBF69908C53E708D65_documentation_en-US" xlink:label="lab_cit_OperatingExpensesAndLossOnDebtExtinguishment_53D12BDA6DE1BEDBF69908C53E708D65" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Operating Expenses And Loss On Debt Extinguishment </link:label>

<link:loc xlink:href="cit-20180331.xsd#cit_OperatingExpensesAndLossOnDebtExtinguishment" xlink:label="loc_cit_OperatingExpensesAndLossOnDebtExtinguishment_53D12BDA6DE1BEDBF69908C53E708D65" xlink:type="locator"/>

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<link:label id="lab_us-gaap_SegmentReportingInformationAdditionalInformationAbstract_491C3F7F02CECF628AF708C53E7005B3_terseLabel_en-US" xlink:label="lab_us-gaap_SegmentReportingInformationAdditionalInformationAbstract_491C3F7F02CECF628AF708C53E7005B3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Select Period End Balances </link:label>

<link:label id="lab_us-gaap_SegmentReportingInformationAdditionalInformationAbstract_491C3F7F02CECF628AF708C53E7005B3_label_en-US" xlink:label="lab_us-gaap_SegmentReportingInformationAdditionalInformationAbstract_491C3F7F02CECF628AF708C53E7005B3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Segment Reporting Information, Additional Information [Abstract] </link:label>

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<link:label id="lab_us-gaap_LoansAndLeasesReceivableNetOfDeferredIncome_D32840A297F327A1330D08C53E703334_terseLabel_en-US" xlink:label="lab_us-gaap_LoansAndLeasesReceivableNetOfDeferredIncome_D32840A297F327A1330D08C53E703334" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Loans </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_LoansAndLeasesReceivableNetOfDeferredIncome" xlink:label="loc_us-gaap_LoansAndLeasesReceivableNetOfDeferredIncome_D32840A297F327A1330D08C53E703334" xlink:type="locator"/>

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<link:label id="lab_cit_CreditBalancesOfFactoringClients_A767D5C16C8B2A380BA608C53E71DD9E_terseLabel_en-US" xlink:label="lab_cit_CreditBalancesOfFactoringClients_A767D5C16C8B2A380BA608C53E71DD9E" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Credit balances of factoring clients </link:label>

<link:label id="lab_cit_CreditBalancesOfFactoringClients_A767D5C16C8B2A380BA608C53E71DD9E_label_en-US" xlink:label="lab_cit_CreditBalancesOfFactoringClients_A767D5C16C8B2A380BA608C53E71DD9E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Credit Balances Of Factoring Clients </link:label>

<link:label id="lab_cit_CreditBalancesOfFactoringClients_A767D5C16C8B2A380BA608C53E71DD9E_documentation_en-US" xlink:label="lab_cit_CreditBalancesOfFactoringClients_A767D5C16C8B2A380BA608C53E71DD9E" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Credit balances of factoring clients </link:label>

<link:loc xlink:href="cit-20180331.xsd#cit_CreditBalancesOfFactoringClients" xlink:label="loc_cit_CreditBalancesOfFactoringClients_A767D5C16C8B2A380BA608C53E71DD9E" xlink:type="locator"/>

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<link:label id="lab_us-gaap_AssetsHeldForSaleNotPartOfDisposalGroup_B29319E85F34409A8E2F08C53E714BBC_terseLabel_en-US" xlink:label="lab_us-gaap_AssetsHeldForSaleNotPartOfDisposalGroup_B29319E85F34409A8E2F08C53E714BBC" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Assets held for sale </link:label>

<link:label id="lab_us-gaap_AssetsHeldForSaleNotPartOfDisposalGroup_B29319E85F34409A8E2F08C53E714BBC_label_en-US" xlink:label="lab_us-gaap_AssetsHeldForSaleNotPartOfDisposalGroup_B29319E85F34409A8E2F08C53E714BBC" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Assets Held-for-sale, Not Part of Disposal Group </link:label>

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<link:label id="lab_us-gaap_PropertySubjectToOrAvailableForOperatingLeaseNet_CC606C82B6B4E604670308C53E71A222_terseLabel_en-US" xlink:label="lab_us-gaap_PropertySubjectToOrAvailableForOperatingLeaseNet_CC606C82B6B4E604670308C53E71A222" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Operating lease equipment, net </link:label>

<link:label id="lab_us-gaap_PropertySubjectToOrAvailableForOperatingLeaseNet_CC606C82B6B4E604670308C53E71A222_label_en-US" xlink:label="lab_us-gaap_PropertySubjectToOrAvailableForOperatingLeaseNet_CC606C82B6B4E604670308C53E71A222" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Property Subject to or Available for Operating Lease, Net </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_PropertySubjectToOrAvailableForOperatingLeaseNet" xlink:label="loc_us-gaap_PropertySubjectToOrAvailableForOperatingLeaseNet_CC606C82B6B4E604670308C53E71A222" xlink:type="locator"/>

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<link:label id="lab_us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock_E468D1053174718D4F7D071F6F3481D6_verboseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock_0DC93136A0CE52D5AA4EE6CAE82B96AD" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Assets and Liabilities Measured at Fair Value on a Recurring Basis </link:label>

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<link:label id="lab_us-gaap_FinancialInstrumentsFinancialAssetsBalanceSheetGroupingsAbstract_FF0C40FE299DB17143D403BBBE9140EF_terseLabel_en-US" xlink:label="lab_us-gaap_FinancialInstrumentsFinancialAssetsBalanceSheetGroupingsAbstract_FF0C40FE299DB17143D403BBBE9140EF" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Financial Assets </link:label>

<link:label id="lab_us-gaap_FinancialInstrumentsFinancialAssetsBalanceSheetGroupingsAbstract_FF0C40FE299DB17143D403BBBE9140EF_label_en-US" xlink:label="lab_us-gaap_FinancialInstrumentsFinancialAssetsBalanceSheetGroupingsAbstract_FF0C40FE299DB17143D403BBBE9140EF" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_FinancialInstrumentsFinancialAssetsBalanceSheetGroupingsAbstract" xlink:label="loc_us-gaap_FinancialInstrumentsFinancialAssetsBalanceSheetGroupingsAbstract_FF0C40FE299DB17143D403BBBE9140EF" xlink:type="locator"/>

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<link:label id="lab_us-gaap_InterestBearingDepositsInBanks_17374D5AB517C45C140A03BBBE9254AB_verboseLabel_en-US" xlink:label="lab_us-gaap_InterestBearingDepositsInBanks_17374D5AB517C45C140A03BBBE9254AB" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Cash and interest bearing deposits </link:label>

<link:label id="lab_us-gaap_InterestBearingDepositsInBanks_17374D5AB517C45C140A03BBBE9254AB_label_en-US" xlink:label="lab_us-gaap_InterestBearingDepositsInBanks_17374D5AB517C45C140A03BBBE9254AB" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Interest-bearing Deposits in Banks and Other Financial Institutions </link:label>

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<link:label id="lab_us-gaap_FairValueHedgeAssetsAtFairValue_DF112BDF8F16B4A5D2EE03BBBE9222BC_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueHedgeAssetsAtFairValue_DF112BDF8F16B4A5D2EE03BBBE9222BC" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Derivative assets at fair value </link:label>

<link:label id="lab_us-gaap_FairValueHedgeAssetsAtFairValue_DF112BDF8F16B4A5D2EE03BBBE9222BC_label_en-US" xlink:label="lab_us-gaap_FairValueHedgeAssetsAtFairValue_DF112BDF8F16B4A5D2EE03BBBE9222BC" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Fair Value Hedge Assets </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_FairValueHedgeAssetsAtFairValue" xlink:label="loc_us-gaap_FairValueHedgeAssetsAtFairValue_DF112BDF8F16B4A5D2EE03BBBE9222BC" xlink:type="locator"/>

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<link:label id="lab_us-gaap_AssetsHeldForSaleLongLivedFairValueDisclosure_6C07271E1DA6D953956A03BBBE929B57_terseLabel_en-US" xlink:label="lab_us-gaap_AssetsHeldForSaleLongLivedFairValueDisclosure_6C07271E1DA6D953956A03BBBE929B57" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Assets held for sale (excluding leases) </link:label>

<link:label id="lab_us-gaap_AssetsHeldForSaleLongLivedFairValueDisclosure_6C07271E1DA6D953956A03BBBE929B57_label_en-US" xlink:label="lab_us-gaap_AssetsHeldForSaleLongLivedFairValueDisclosure_6C07271E1DA6D953956A03BBBE929B57" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Assets Held-for-sale, Long Lived, Fair Value Disclosure </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_AssetsHeldForSaleLongLivedFairValueDisclosure" xlink:label="loc_us-gaap_AssetsHeldForSaleLongLivedFairValueDisclosure_6C07271E1DA6D953956A03BBBE929B57" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AssetsHeldForSaleLongLivedFairValueDisclosure_6C07271E1DA6D953956A03BBBE929B57" xlink:to="lab_us-gaap_AssetsHeldForSaleLongLivedFairValueDisclosure_6C07271E1DA6D953956A03BBBE929B57" xlink:type="arc"/>

<link:label id="lab_us-gaap_LoansReceivableFairValueDisclosure_AFE030DDDECC9F33205603BCCB548098_verboseLabel_en-US" xlink:label="lab_us-gaap_LoansReceivableFairValueDisclosure_AFE030DDDECC9F33205603BCCB548098" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Loans (excluding leases) </link:label>

<link:label id="lab_us-gaap_LoansReceivableFairValueDisclosure_AFE030DDDECC9F33205603BCCB548098_label_en-US" xlink:label="lab_us-gaap_LoansReceivableFairValueDisclosure_AFE030DDDECC9F33205603BCCB548098" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Loans Receivable, Fair Value Disclosure </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_LoansReceivableFairValueDisclosure" xlink:label="loc_us-gaap_LoansReceivableFairValueDisclosure_AFE030DDDECC9F33205603BCCB548098" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LoansReceivableFairValueDisclosure_AFE030DDDECC9F33205603BCCB548098" xlink:to="lab_us-gaap_LoansReceivableFairValueDisclosure_AFE030DDDECC9F33205603BCCB548098" xlink:type="arc"/>

<link:label id="lab_cit_SecuritiesPurchasedUnderAgreementstoResellFairValueDisclosure_00BC79C58FFB3163252303BBBE921622_terseLabel_en-US" xlink:label="lab_cit_SecuritiesPurchasedUnderAgreementstoResellFairValueDisclosure_00BC79C58FFB3163252303BBBE921622" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Securities purchased under agreement to resell </link:label>

<link:label id="lab_cit_SecuritiesPurchasedUnderAgreementstoResellFairValueDisclosure_00BC79C58FFB3163252303BBBE921622_label_en-US" xlink:label="lab_cit_SecuritiesPurchasedUnderAgreementstoResellFairValueDisclosure_00BC79C58FFB3163252303BBBE921622" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Securities Purchased Under Agreements to Resell, Fair Value Disclosure </link:label>

<link:label id="lab_cit_SecuritiesPurchasedUnderAgreementstoResellFairValueDisclosure_00BC79C58FFB3163252303BBBE921622_documentation_en-US" xlink:label="lab_cit_SecuritiesPurchasedUnderAgreementstoResellFairValueDisclosure_00BC79C58FFB3163252303BBBE921622" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Securities Purchased Under Agreements to Resell, Fair Value Disclosure </link:label>

<link:loc xlink:href="cit-20180331.xsd#cit_SecuritiesPurchasedUnderAgreementstoResellFairValueDisclosure" xlink:label="loc_cit_SecuritiesPurchasedUnderAgreementstoResellFairValueDisclosure_00BC79C58FFB3163252303BBBE921622" xlink:type="locator"/>

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<link:label id="lab_us-gaap_InvestmentsFairValueDisclosure_D6703DAEF926C090955303BBBE92F527_verboseLabel_en-US" xlink:label="lab_us-gaap_InvestmentsFairValueDisclosure_D6703DAEF926C090955303BBBE92F527" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Investment securities </link:label>

<link:label id="lab_us-gaap_InvestmentsFairValueDisclosure_D6703DAEF926C090955303BBBE92F527_label_en-US" xlink:label="lab_us-gaap_InvestmentsFairValueDisclosure_D6703DAEF926C090955303BBBE92F527" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Investments, Fair Value Disclosure </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_InvestmentsFairValueDisclosure" xlink:label="loc_us-gaap_InvestmentsFairValueDisclosure_D6703DAEF926C090955303BBBE92F527" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InvestmentsFairValueDisclosure_D6703DAEF926C090955303BBBE92F527" xlink:to="lab_us-gaap_InvestmentsFairValueDisclosure_D6703DAEF926C090955303BBBE92F527" xlink:type="arc"/>

<link:label id="lab_us-gaap_BusinessCombinationIndemnificationAssetsAmountAsOfAcquisitionDate_0E60732DF31CFD2FF42003BBBE92766D_verboseLabel_en-US" xlink:label="lab_us-gaap_BusinessCombinationIndemnificationAssetsAmountAsOfAcquisitionDate_0E60732DF31CFD2FF42003BBBE92766D" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Indemnification assets </link:label>

<link:label id="lab_us-gaap_BusinessCombinationIndemnificationAssetsAmountAsOfAcquisitionDate_0E60732DF31CFD2FF42003BBBE92766D_label_en-US" xlink:label="lab_us-gaap_BusinessCombinationIndemnificationAssetsAmountAsOfAcquisitionDate_0E60732DF31CFD2FF42003BBBE92766D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Business Combination, Indemnification Assets, Amount as of Acquisition Date </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_BusinessCombinationIndemnificationAssetsAmountAsOfAcquisitionDate" xlink:label="loc_us-gaap_BusinessCombinationIndemnificationAssetsAmountAsOfAcquisitionDate_0E60732DF31CFD2FF42003BBBE92766D" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BusinessCombinationIndemnificationAssetsAmountAsOfAcquisitionDate_0E60732DF31CFD2FF42003BBBE92766D" xlink:to="lab_us-gaap_BusinessCombinationIndemnificationAssetsAmountAsOfAcquisitionDate_0E60732DF31CFD2FF42003BBBE92766D" xlink:type="arc"/>

<link:label id="lab_cit_OtherAssetsSubjectToFairValueDisclosureAndUnsecuredCounterparty_3028DB796B93D909944103BBBE9236A6_terseLabel_en-US" xlink:label="lab_cit_OtherAssetsSubjectToFairValueDisclosureAndUnsecuredCounterparty_3028DB796B93D909944103BBBE9236A6" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Other assets subject to fair value disclosure and unsecured counterparty receivables </link:label>

<link:label id="lab_cit_OtherAssetsSubjectToFairValueDisclosureAndUnsecuredCounterparty_3028DB796B93D909944103BBBE9236A6_label_en-US" xlink:label="lab_cit_OtherAssetsSubjectToFairValueDisclosureAndUnsecuredCounterparty_3028DB796B93D909944103BBBE9236A6" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Other Assets Subject To Fair Value Disclosure And Unsecured Counterparty </link:label>

<link:label id="lab_cit_OtherAssetsSubjectToFairValueDisclosureAndUnsecuredCounterparty_3028DB796B93D909944103BBBE9236A6_documentation_en-US" xlink:label="lab_cit_OtherAssetsSubjectToFairValueDisclosureAndUnsecuredCounterparty_3028DB796B93D909944103BBBE9236A6" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Other assets subject to fair value disclosure and unsecured counterparty receivables. </link:label>

<link:loc xlink:href="cit-20180331.xsd#cit_OtherAssetsSubjectToFairValueDisclosureAndUnsecuredCounterparty" xlink:label="loc_cit_OtherAssetsSubjectToFairValueDisclosureAndUnsecuredCounterparty_3028DB796B93D909944103BBBE9236A6" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cit_OtherAssetsSubjectToFairValueDisclosureAndUnsecuredCounterparty_3028DB796B93D909944103BBBE9236A6" xlink:to="lab_cit_OtherAssetsSubjectToFairValueDisclosureAndUnsecuredCounterparty_3028DB796B93D909944103BBBE9236A6" xlink:type="arc"/>

<link:label id="lab_us-gaap_FinancialInstrumentsFinancialLiabilitiesBalanceSheetGroupingsAbstract_3C6466B98B76E6DE12BD03BDBD034FAE_terseLabel_en-US" xlink:label="lab_us-gaap_FinancialInstrumentsFinancialLiabilitiesBalanceSheetGroupingsAbstract_3C6466B98B76E6DE12BD03BDBD034FAE" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Financial Liabilities </link:label>

<link:label id="lab_us-gaap_FinancialInstrumentsFinancialLiabilitiesBalanceSheetGroupingsAbstract_3C6466B98B76E6DE12BD03BDBD034FAE_label_en-US" xlink:label="lab_us-gaap_FinancialInstrumentsFinancialLiabilitiesBalanceSheetGroupingsAbstract_3C6466B98B76E6DE12BD03BDBD034FAE" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Financial Instruments, Financial Liabilities, Balance Sheet Groupings [Abstract] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_FinancialInstrumentsFinancialLiabilitiesBalanceSheetGroupingsAbstract" xlink:label="loc_us-gaap_FinancialInstrumentsFinancialLiabilitiesBalanceSheetGroupingsAbstract_3C6466B98B76E6DE12BD03BDBD034FAE" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinancialInstrumentsFinancialLiabilitiesBalanceSheetGroupingsAbstract_3C6466B98B76E6DE12BD03BDBD034FAE" xlink:to="lab_us-gaap_FinancialInstrumentsFinancialLiabilitiesBalanceSheetGroupingsAbstract_3C6466B98B76E6DE12BD03BDBD034FAE" xlink:type="arc"/>

<link:label id="lab_cit_DepositsIncludingAccruedInterest_0E5B84FBD5CDF5D7B19403BBBE92598D_negatedLabel_en-US" xlink:label="lab_cit_DepositsIncludingAccruedInterest_0E5B84FBD5CDF5D7B19403BBBE92598D" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US"> Deposits </link:label>

<link:label id="lab_cit_DepositsIncludingAccruedInterest_0E5B84FBD5CDF5D7B19403BBBE92598D_label_en-US" xlink:label="lab_cit_DepositsIncludingAccruedInterest_0E5B84FBD5CDF5D7B19403BBBE92598D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Deposits, Including Accrued Interest </link:label>

<link:label id="lab_cit_DepositsIncludingAccruedInterest_0E5B84FBD5CDF5D7B19403BBBE92598D_documentation_en-US" xlink:label="lab_cit_DepositsIncludingAccruedInterest_0E5B84FBD5CDF5D7B19403BBBE92598D" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Total amount of interest-bearing deposit liabilities, which may include brokered, retail, demand, checking, notice of withdrawal, money market and other interest-bearing deposits. </link:label>

<link:loc xlink:href="cit-20180331.xsd#cit_DepositsIncludingAccruedInterest" xlink:label="loc_cit_DepositsIncludingAccruedInterest_0E5B84FBD5CDF5D7B19403BBBE92598D" xlink:type="locator"/>

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<link:label id="lab_us-gaap_FairValueHedgeLiabilitiesAtFairValue_C0FFDCDFEF747D032D3303BBBE9217AC_negatedLabel_en-US" xlink:label="lab_us-gaap_FairValueHedgeLiabilitiesAtFairValue_C0FFDCDFEF747D032D3303BBBE9217AC" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US"> Derivative liabilities at fair value </link:label>

<link:label id="lab_us-gaap_FairValueHedgeLiabilitiesAtFairValue_C0FFDCDFEF747D032D3303BBBE9217AC_label_en-US" xlink:label="lab_us-gaap_FairValueHedgeLiabilitiesAtFairValue_C0FFDCDFEF747D032D3303BBBE9217AC" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Fair Value Hedge Liabilities </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_FairValueHedgeLiabilitiesAtFairValue" xlink:label="loc_us-gaap_FairValueHedgeLiabilitiesAtFairValue_C0FFDCDFEF747D032D3303BBBE9217AC" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueHedgeLiabilitiesAtFairValue_C0FFDCDFEF747D032D3303BBBE9217AC" xlink:to="lab_us-gaap_FairValueHedgeLiabilitiesAtFairValue_C0FFDCDFEF747D032D3303BBBE9217AC" xlink:type="arc"/>

<link:label id="lab_us-gaap_DebtInstrumentFairValue_81DE6280A2B84424729E03BE45C3D386_negatedLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentFairValue_81DE6280A2B84424729E03BE45C3D386" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US"> Borrowings </link:label>

<link:label id="lab_us-gaap_DebtInstrumentFairValue_81DE6280A2B84424729E03BE45C3D386_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentFairValue_81DE6280A2B84424729E03BE45C3D386" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Debt Instrument, Fair Value Disclosure </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_DebtInstrumentFairValue" xlink:label="loc_us-gaap_DebtInstrumentFairValue_81DE6280A2B84424729E03BE45C3D386" xlink:type="locator"/>

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<link:label id="lab_cit_CreditBalancesOfFactoringClients_4C2B9A6C9D742F3AEB8703BBBE92CF63_negatedLabel_en-US" xlink:label="lab_cit_CreditBalancesOfFactoringClients_4C2B9A6C9D742F3AEB8703BBBE92CF63" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US"> Credit balances of factoring clients </link:label>

<link:loc xlink:href="cit-20180331.xsd#cit_CreditBalancesOfFactoringClients" xlink:label="loc_cit_CreditBalancesOfFactoringClients_4C2B9A6C9D742F3AEB8703BBBE92CF63" xlink:type="locator"/>

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<link:label id="lab_cit_OtherLiabilitiesSubjectToFairValueDisclosure_50E2A620D4698C416CFA03BBBE92B212_negatedLabel_en-US" xlink:label="lab_cit_OtherLiabilitiesSubjectToFairValueDisclosure_50E2A620D4698C416CFA03BBBE92B212" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US"> Other liabilities subject to fair value disclosure </link:label>

<link:label id="lab_cit_OtherLiabilitiesSubjectToFairValueDisclosure_50E2A620D4698C416CFA03BBBE92B212_label_en-US" xlink:label="lab_cit_OtherLiabilitiesSubjectToFairValueDisclosure_50E2A620D4698C416CFA03BBBE92B212" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Other liabilities subject to fair value disclosure </link:label>

<link:label id="lab_cit_OtherLiabilitiesSubjectToFairValueDisclosure_50E2A620D4698C416CFA03BBBE92B212_documentation_en-US" xlink:label="lab_cit_OtherLiabilitiesSubjectToFairValueDisclosure_50E2A620D4698C416CFA03BBBE92B212" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Other liabilities subject to fair value disclosure </link:label>

<link:loc xlink:href="cit-20180331.xsd#cit_OtherLiabilitiesSubjectToFairValueDisclosure" xlink:label="loc_cit_OtherLiabilitiesSubjectToFairValueDisclosure_50E2A620D4698C416CFA03BBBE92B212" xlink:type="locator"/>

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<link:label id="lab_us-gaap_AvailableForSaleSecuritiesDebtSecurities_3FCC75DAC29EDDF617AE03BBBE92C18A_terseLabel_en-US" xlink:label="lab_us-gaap_AvailableForSaleSecuritiesDebtSecurities_3FCC75DAC29EDDF617AE03BBBE92C18A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Available-for-sale debt securities </link:label>

<link:label id="lab_us-gaap_AvailableForSaleSecuritiesDebtSecurities_3FCC75DAC29EDDF617AE03BBBE92C18A_label_en-US" xlink:label="lab_us-gaap_AvailableForSaleSecuritiesDebtSecurities_3FCC75DAC29EDDF617AE03BBBE92C18A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Available-for-sale Securities, Debt Securities </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_AvailableForSaleSecuritiesDebtSecurities" xlink:label="loc_us-gaap_AvailableForSaleSecuritiesDebtSecurities_3FCC75DAC29EDDF617AE03BBBE92C18A" xlink:type="locator"/>

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<link:label id="lab_us-gaap_TradingSecuritiesDebt_3D2665D48E6A7C29490203BBBE93E328_verboseLabel_en-US" xlink:label="lab_us-gaap_TradingSecuritiesDebt_3D2665D48E6A7C29490203BBBE93E328" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Debt securities carried at fair value with changes recorded in net income </link:label>

<link:label id="lab_us-gaap_TradingSecuritiesDebt_3D2665D48E6A7C29490203BBBE93E328_label_en-US" xlink:label="lab_us-gaap_TradingSecuritiesDebt_3D2665D48E6A7C29490203BBBE93E328" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Trading Securities, Debt </link:label>

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<link:loc xlink:href="cit-20180331.xsd#cit_NonMarketableSecurities" xlink:label="loc_cit_NonMarketableSecurities_AB351F7BC670DEE35A9C03BBBE932B7B" xlink:type="locator"/>

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<link:label id="lab_cit_AgencyClaimedIndemnificationAssets_6C72026938ADB980883C03BBBE93D748_terseLabel_en-US" xlink:label="lab_cit_AgencyClaimedIndemnificationAssets_6C72026938ADB980883C03BBBE93D748" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Agency claimed indemnification assets </link:label>

<link:label id="lab_cit_AgencyClaimedIndemnificationAssets_6C72026938ADB980883C03BBBE93D748_label_en-US" xlink:label="lab_cit_AgencyClaimedIndemnificationAssets_6C72026938ADB980883C03BBBE93D748" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Agency claimed indemnification assets </link:label>

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<link:loc xlink:href="cit-20180331.xsd#cit_AgencyClaimedIndemnificationAssets" xlink:label="loc_cit_AgencyClaimedIndemnificationAssets_6C72026938ADB980883C03BBBE93D748" xlink:type="locator"/>

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<link:label id="lab_us-gaap_ScheduleOfInvestmentIncomeReportedAmountsByCategoryTable_ED1C7B787C86310EB801024AD2135E3B_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfInvestmentIncomeReportedAmountsByCategoryTable_ED1C7B787C86310EB801024AD2135E3B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Investment Income [Table] </link:label>

<link:label id="lab_us-gaap_ScheduleOfInvestmentIncomeReportedAmountsByCategoryTable_ED1C7B787C86310EB801024AD2135E3B_label_en-US" xlink:label="lab_us-gaap_ScheduleOfInvestmentIncomeReportedAmountsByCategoryTable_ED1C7B787C86310EB801024AD2135E3B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Investment Income [Table] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ScheduleOfInvestmentIncomeReportedAmountsByCategoryTable" xlink:label="loc_us-gaap_ScheduleOfInvestmentIncomeReportedAmountsByCategoryTable_ED1C7B787C86310EB801024AD2135E3B" xlink:type="locator"/>

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<link:label id="lab_us-gaap_RepurchaseAgreementsMember_5B038E0C2D5A8C300BD9024AD214253C_terseLabel_en-US" xlink:label="lab_us-gaap_RepurchaseAgreementsMember_5B038E0C2D5A8C300BD9024AD214253C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Investments </link:label>

<link:label id="lab_us-gaap_RepurchaseAgreementsMember_5B038E0C2D5A8C300BD9024AD214253C_label_en-US" xlink:label="lab_us-gaap_RepurchaseAgreementsMember_5B038E0C2D5A8C300BD9024AD214253C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Repurchase Agreements [Member] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_RepurchaseAgreementsMember" xlink:label="loc_us-gaap_RepurchaseAgreementsMember_5B038E0C2D5A8C300BD9024AD214253C" xlink:type="locator"/>

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<link:label id="lab_us-gaap_InterestBearingDepositsMember_A20AA7A47594DCA0DFBD024AD2147D00_terseLabel_en-US" xlink:label="lab_us-gaap_InterestBearingDepositsMember_A20AA7A47594DCA0DFBD024AD2147D00" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Interest-bearing Deposits </link:label>

<link:label id="lab_us-gaap_InterestBearingDepositsMember_A20AA7A47594DCA0DFBD024AD2147D00_label_en-US" xlink:label="lab_us-gaap_InterestBearingDepositsMember_A20AA7A47594DCA0DFBD024AD2147D00" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Interest-bearing Deposits [Member] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_InterestBearingDepositsMember" xlink:label="loc_us-gaap_InterestBearingDepositsMember_A20AA7A47594DCA0DFBD024AD2147D00" xlink:type="locator"/>

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<link:label id="lab_us-gaap_ScheduleOfInvestmentIncomeReportedAmountsByCategoryLineItems_E6C4C2BBCD79D333F339024AD2155345_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfInvestmentIncomeReportedAmountsByCategoryLineItems_E6C4C2BBCD79D333F339024AD2155345" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Net Investment Income [Line Items] </link:label>

<link:label id="lab_us-gaap_ScheduleOfInvestmentIncomeReportedAmountsByCategoryLineItems_E6C4C2BBCD79D333F339024AD2155345_label_en-US" xlink:label="lab_us-gaap_ScheduleOfInvestmentIncomeReportedAmountsByCategoryLineItems_E6C4C2BBCD79D333F339024AD2155345" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Net Investment Income [Line Items] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ScheduleOfInvestmentIncomeReportedAmountsByCategoryLineItems" xlink:label="loc_us-gaap_ScheduleOfInvestmentIncomeReportedAmountsByCategoryLineItems_E6C4C2BBCD79D333F339024AD2155345" xlink:type="locator"/>

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<link:label id="lab_us-gaap_InvestmentIncomeInterest_F1EF47E8FB0ED2D71DF6024AD215437D_terseLabel_en-US" xlink:label="lab_us-gaap_InvestmentIncomeInterest_F1EF47E8FB0ED2D71DF6024AD215437D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Interest income </link:label>

<link:label id="lab_us-gaap_InvestmentIncomeInterest_F1EF47E8FB0ED2D71DF6024AD215437D_label_en-US" xlink:label="lab_us-gaap_InvestmentIncomeInterest_F1EF47E8FB0ED2D71DF6024AD215437D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Investment Income, Interest </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_InvestmentIncomeInterest" xlink:label="loc_us-gaap_InvestmentIncomeInterest_F1EF47E8FB0ED2D71DF6024AD215437D" xlink:type="locator"/>

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<link:label id="lab_us-gaap_InvestmentIncomeDividend_E829F3DA6A5F565B15BE024AD21596DC_terseLabel_en-US" xlink:label="lab_us-gaap_InvestmentIncomeDividend_E829F3DA6A5F565B15BE024AD21596DC" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Dividends — equity securities </link:label>

<link:label id="lab_us-gaap_InvestmentIncomeDividend_E829F3DA6A5F565B15BE024AD21596DC_label_en-US" xlink:label="lab_us-gaap_InvestmentIncomeDividend_E829F3DA6A5F565B15BE024AD21596DC" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Investment Income, Dividend </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_InvestmentIncomeDividend" xlink:label="loc_us-gaap_InvestmentIncomeDividend_E829F3DA6A5F565B15BE024AD21596DC" xlink:type="locator"/>

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<link:label id="lab_us-gaap_InterestAndDividendIncomeSecurities_8216A6A38C83D10D0C5C024AD21549BE_totalLabel_en-US" xlink:label="lab_us-gaap_InterestAndDividendIncomeSecurities_8216A6A38C83D10D0C5C024AD21549BE" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US"> Total interest and dividends </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_InterestAndDividendIncomeSecurities" xlink:label="loc_us-gaap_InterestAndDividendIncomeSecurities_8216A6A38C83D10D0C5C024AD21549BE" xlink:type="locator"/>

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<link:label id="lab_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable_F037FAA7EA5FB094426327BDC8A9AB4F_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable_F037FAA7EA5FB094426327BDC8A9AB4F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Fair Value Measurements, Recurring and Nonrecurring [Table] </link:label>

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<link:label id="lab_us-gaap_FairValueMeasurementFrequencyDomain_8E4075F4F6E8786B5F8F27BDC8AAED24_label_en-US" xlink:label="lab_us-gaap_FairValueMeasurementFrequencyDomain_8E4075F4F6E8786B5F8F27BDC8AAED24" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Fair Value, Measurement Frequency [Domain] </link:label>

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<link:label id="lab_us-gaap_ClassOfStockLineItems_CFB2D597AF02CE9726CE03CD44413308_terseLabel_en-US" xlink:label="lab_us-gaap_ClassOfStockLineItems_CFB2D597AF02CE9726CE03CD44413308" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Class of Stock [Line Items] </link:label>

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<link:label id="lab_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock_1416D60D3645F18C0516071F6F52F259_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock_FD8C3424C3465794AA4E40B2B643E837" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> DERIVATIVE FINANCIAL INSTRUMENTS </link:label>

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<link:label id="lab_us-gaap_ScheduleOfDisposalGroupsIncludingDiscontinuedOperationsIncomeStatementBalanceSheetAndAdditionalDisclosuresTextBlock_57A46541EBC3CFE535A5FD5BECC17630_verboseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfDisposalGroupsIncludingDiscontinuedOperationsIncomeStatementBalanceSheetAndAdditionalDisclosuresTextBlock_57A46541EBC3CFE535A5FD5BECC17630" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Condensed Balance Sheet, Statement of Operations, and Cash Flows from Discontinued Operations </link:label>

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<link:label id="lab_us-gaap_StatementOfCashFlowsAbstract_18E40363F0123775DC2927BDCAACACD2_label_en-US" xlink:label="lab_us-gaap_StatementOfCashFlowsAbstract_18E40363F0123775DC2927BDCAACACD2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Statement of Cash Flows [Abstract] </link:label>

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<link:label id="lab_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract_6DFDC4F9D7410C8A0CDD27BDCAAD64F0_terseLabel_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract_6DFDC4F9D7410C8A0CDD27BDCAAD64F0" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Cash Flows From Operations </link:label>

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<link:label id="lab_us-gaap_ProvisionForLoanLeaseAndOtherLosses_9E661E116EA9AC2435A027BDCAADDCA0_terseLabel_en-US" xlink:label="lab_us-gaap_ProvisionForLoanLeaseAndOtherLosses_9E661E116EA9AC2435A027BDCAADDCA0" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Provision for credit losses </link:label>

<link:label id="lab_us-gaap_ProvisionForLoanLeaseAndOtherLosses_9E661E116EA9AC2435A027BDCAADDCA0_label_en-US" xlink:label="lab_us-gaap_ProvisionForLoanLeaseAndOtherLosses_9E661E116EA9AC2435A027BDCAADDCA0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Provision for Loan, Lease, and Other Losses </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ProvisionForLoanLeaseAndOtherLosses" xlink:label="loc_us-gaap_ProvisionForLoanLeaseAndOtherLosses_9E661E116EA9AC2435A027BDCAADDCA0" xlink:type="locator"/>

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<link:label id="lab_us-gaap_Depreciation_FDE6241E087F673BD13527BDCAAD6F33_verboseLabel_en-US" xlink:label="lab_us-gaap_Depreciation_FDE6241E087F673BD13527BDCAAD6F33" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Depreciation on operating lease equipment </link:label>

<link:label id="lab_us-gaap_Depreciation_FDE6241E087F673BD13527BDCAAD6F33_label_en-US" xlink:label="lab_us-gaap_Depreciation_FDE6241E087F673BD13527BDCAAD6F33" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Depreciation </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_Depreciation" xlink:label="loc_us-gaap_Depreciation_FDE6241E087F673BD13527BDCAAD6F33" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_Depreciation_FDE6241E087F673BD13527BDCAAD6F33" xlink:to="lab_us-gaap_Depreciation_FDE6241E087F673BD13527BDCAAD6F33" xlink:type="arc"/>

<link:label id="lab_us-gaap_ShareBasedCompensation_C4D1428C0875134DC94D27BDCAADD205_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensation_C4D1428C0875134DC94D27BDCAADD205" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Amortization of stock compensation expenses </link:label>

<link:label id="lab_us-gaap_ShareBasedCompensation_C4D1428C0875134DC94D27BDCAADD205_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensation_C4D1428C0875134DC94D27BDCAADD205" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Share-based Compensation </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ShareBasedCompensation" xlink:label="loc_us-gaap_ShareBasedCompensation_C4D1428C0875134DC94D27BDCAADD205" xlink:type="locator"/>

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<link:label id="lab_us-gaap_GainLossOnSalesOfAssetsAndAssetImpairmentCharges_F3F60EE1F6E3FFF10DA727BDCAADBB4A_negatedLabel_en-US" xlink:label="lab_us-gaap_GainLossOnSalesOfAssetsAndAssetImpairmentCharges_F3F60EE1F6E3FFF10DA727BDCAADBB4A" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US"> Net gain on asset sales and impairments on assets held for sale </link:label>

<link:label id="lab_us-gaap_GainLossOnSalesOfAssetsAndAssetImpairmentCharges_F3F60EE1F6E3FFF10DA727BDCAADBB4A_label_en-US" xlink:label="lab_us-gaap_GainLossOnSalesOfAssetsAndAssetImpairmentCharges_F3F60EE1F6E3FFF10DA727BDCAADBB4A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Gain (Loss) on Sale of Assets and Asset Impairment Charges </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_GainLossOnSalesOfAssetsAndAssetImpairmentCharges" xlink:label="loc_us-gaap_GainLossOnSalesOfAssetsAndAssetImpairmentCharges_F3F60EE1F6E3FFF10DA727BDCAADBB4A" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_GainLossOnSalesOfAssetsAndAssetImpairmentCharges_F3F60EE1F6E3FFF10DA727BDCAADBB4A" xlink:to="lab_us-gaap_GainLossOnSalesOfAssetsAndAssetImpairmentCharges_F3F60EE1F6E3FFF10DA727BDCAADBB4A" xlink:type="arc"/>

<link:label id="lab_us-gaap_GainsLossesOnExtinguishmentOfDebt_4DAEB9B2CE0E06AEB6DA27BDCAADC6FF_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_GainsLossesOnExtinguishmentOfDebt_4DAEB9B2CE0E06AEB6DA27BDCAADC6FF" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US"> Loss on debt extinguishment and other deposit redemption </link:label>

<link:label id="lab_us-gaap_GainsLossesOnExtinguishmentOfDebt_4DAEB9B2CE0E06AEB6DA27BDCAADC6FF_label_en-US" xlink:label="lab_us-gaap_GainsLossesOnExtinguishmentOfDebt_4DAEB9B2CE0E06AEB6DA27BDCAADC6FF" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Gain (Loss) on Extinguishment of Debt </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_GainsLossesOnExtinguishmentOfDebt" xlink:label="loc_us-gaap_GainsLossesOnExtinguishmentOfDebt_4DAEB9B2CE0E06AEB6DA27BDCAADC6FF" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_GainsLossesOnExtinguishmentOfDebt_4DAEB9B2CE0E06AEB6DA27BDCAADC6FF" xlink:to="lab_us-gaap_GainsLossesOnExtinguishmentOfDebt_4DAEB9B2CE0E06AEB6DA27BDCAADC6FF" xlink:type="arc"/>

<link:label id="lab_us-gaap_DeferredIncomeTaxExpenseBenefit_8699E36C602AE24535A227BDCAADE454_terseLabel_en-US" xlink:label="lab_us-gaap_DeferredIncomeTaxExpenseBenefit_8699E36C602AE24535A227BDCAADE454" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Provision for deferred income taxes </link:label>

<link:label id="lab_us-gaap_DeferredIncomeTaxExpenseBenefit_8699E36C602AE24535A227BDCAADE454_label_en-US" xlink:label="lab_us-gaap_DeferredIncomeTaxExpenseBenefit_8699E36C602AE24535A227BDCAADE454" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Deferred Income Tax Expense (Benefit) </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_DeferredIncomeTaxExpenseBenefit" xlink:label="loc_us-gaap_DeferredIncomeTaxExpenseBenefit_8699E36C602AE24535A227BDCAADE454" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DeferredIncomeTaxExpenseBenefit_8699E36C602AE24535A227BDCAADE454" xlink:to="lab_us-gaap_DeferredIncomeTaxExpenseBenefit_8699E36C602AE24535A227BDCAADE454" xlink:type="arc"/>

<link:label id="lab_us-gaap_IncreaseDecreaseInAssetsHeldForSale_417C3539A8583C542DB327BDCAAD80BB_negatedLabel_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInAssetsHeldForSale_417C3539A8583C542DB327BDCAAD80BB" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US"> Decrease in finance receivables held for sale </link:label>

<link:label id="lab_us-gaap_IncreaseDecreaseInAssetsHeldForSale_417C3539A8583C542DB327BDCAAD80BB_label_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInAssetsHeldForSale_417C3539A8583C542DB327BDCAAD80BB" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Increase (Decrease) in Assets Held-for-sale </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_IncreaseDecreaseInAssetsHeldForSale" xlink:label="loc_us-gaap_IncreaseDecreaseInAssetsHeldForSale_417C3539A8583C542DB327BDCAAD80BB" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncreaseDecreaseInAssetsHeldForSale_417C3539A8583C542DB327BDCAAD80BB" xlink:to="lab_us-gaap_IncreaseDecreaseInAssetsHeldForSale_417C3539A8583C542DB327BDCAAD80BB" xlink:type="arc"/>

<link:label id="lab_us-gaap_IncreaseDecreaseInOtherOperatingAssets_C27840D7AA4C71BB842827BDCAAD1573_negatedLabel_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInOtherOperatingAssets_C27840D7AA4C71BB842827BDCAAD1573" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US"> (Increase) decrease in other assets </link:label>

<link:label id="lab_us-gaap_IncreaseDecreaseInOtherOperatingAssets_C27840D7AA4C71BB842827BDCAAD1573_label_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInOtherOperatingAssets_C27840D7AA4C71BB842827BDCAAD1573" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Increase (Decrease) in Other Operating Assets </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_IncreaseDecreaseInOtherOperatingAssets" xlink:label="loc_us-gaap_IncreaseDecreaseInOtherOperatingAssets_C27840D7AA4C71BB842827BDCAAD1573" xlink:type="locator"/>

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<link:label id="lab_us-gaap_IncreaseDecreaseInOtherOperatingLiabilities_76D05D5AA10E121C44F427BDCAADB78C_terseLabel_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInOtherOperatingLiabilities_76D05D5AA10E121C44F427BDCAADB78C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Decrease in other liabilities </link:label>

<link:label id="lab_us-gaap_IncreaseDecreaseInOtherOperatingLiabilities_76D05D5AA10E121C44F427BDCAADB78C_label_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInOtherOperatingLiabilities_76D05D5AA10E121C44F427BDCAADB78C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Increase (Decrease) in Other Operating Liabilities </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_IncreaseDecreaseInOtherOperatingLiabilities" xlink:label="loc_us-gaap_IncreaseDecreaseInOtherOperatingLiabilities_76D05D5AA10E121C44F427BDCAADB78C" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncreaseDecreaseInOtherOperatingLiabilities_76D05D5AA10E121C44F427BDCAADB78C" xlink:to="lab_us-gaap_IncreaseDecreaseInOtherOperatingLiabilities_76D05D5AA10E121C44F427BDCAADB78C" xlink:type="arc"/>

<link:label id="lab_us-gaap_OtherOperatingActivitiesCashFlowStatement_D37084BCE0EC532084AA27BDCAAD1EED_terseLabel_en-US" xlink:label="lab_us-gaap_OtherOperatingActivitiesCashFlowStatement_D37084BCE0EC532084AA27BDCAAD1EED" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Other operating activities </link:label>

<link:label id="lab_us-gaap_OtherOperatingActivitiesCashFlowStatement_D37084BCE0EC532084AA27BDCAAD1EED_label_en-US" xlink:label="lab_us-gaap_OtherOperatingActivitiesCashFlowStatement_D37084BCE0EC532084AA27BDCAAD1EED" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Other Operating Activities, Cash Flow Statement </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_OtherOperatingActivitiesCashFlowStatement" xlink:label="loc_us-gaap_OtherOperatingActivitiesCashFlowStatement_D37084BCE0EC532084AA27BDCAAD1EED" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherOperatingActivitiesCashFlowStatement_D37084BCE0EC532084AA27BDCAAD1EED" xlink:to="lab_us-gaap_OtherOperatingActivitiesCashFlowStatement_D37084BCE0EC532084AA27BDCAAD1EED" xlink:type="arc"/>

<link:label id="lab_us-gaap_NetCashProvidedByUsedInOperatingActivities_D7120BCAE35ACF0B3AF927BDCAAD82FC_totalLabel_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInOperatingActivities_D7120BCAE35ACF0B3AF927BDCAAD82FC" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US"> Net cash flows provided by operations </link:label>

<link:label id="lab_us-gaap_NetCashProvidedByUsedInOperatingActivities_D7120BCAE35ACF0B3AF927BDCAAD82FC_label_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInOperatingActivities_D7120BCAE35ACF0B3AF927BDCAAD82FC" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Net Cash Provided by (Used in) Operating Activities </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_NetCashProvidedByUsedInOperatingActivities" xlink:label="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_D7120BCAE35ACF0B3AF927BDCAAD82FC" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_D7120BCAE35ACF0B3AF927BDCAAD82FC" xlink:to="lab_us-gaap_NetCashProvidedByUsedInOperatingActivities_D7120BCAE35ACF0B3AF927BDCAAD82FC" xlink:type="arc"/>

<link:label id="lab_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_5B0B6CB053E203302E9F27BDCAAE2AF5_terseLabel_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_5B0B6CB053E203302E9F27BDCAAE2AF5" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Cash Flows From Investing Activities </link:label>

<link:label id="lab_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_5B0B6CB053E203302E9F27BDCAAE2AF5_label_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_5B0B6CB053E203302E9F27BDCAAE2AF5" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Net Cash Provided by (Used in) Investing Activities [Abstract] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract" xlink:label="loc_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_5B0B6CB053E203302E9F27BDCAAE2AF5" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_5B0B6CB053E203302E9F27BDCAAE2AF5" xlink:to="lab_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_5B0B6CB053E203302E9F27BDCAAE2AF5" xlink:type="arc"/>

<link:label id="lab_us-gaap_PaymentsForProceedsFromLoansAndLeases_49B41FD4A77895F30F9927BDCAAE8AC3_negatedLabel_en-US" xlink:label="lab_us-gaap_PaymentsForProceedsFromLoansAndLeases_49B41FD4A77895F30F9927BDCAAE8AC3" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US"> Changes in loans, net </link:label>

<link:label id="lab_us-gaap_PaymentsForProceedsFromLoansAndLeases_49B41FD4A77895F30F9927BDCAAE8AC3_label_en-US" xlink:label="lab_us-gaap_PaymentsForProceedsFromLoansAndLeases_49B41FD4A77895F30F9927BDCAAE8AC3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Payments for (Proceeds from) Loans and Leases </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_PaymentsForProceedsFromLoansAndLeases" xlink:label="loc_us-gaap_PaymentsForProceedsFromLoansAndLeases_49B41FD4A77895F30F9927BDCAAE8AC3" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PaymentsForProceedsFromLoansAndLeases_49B41FD4A77895F30F9927BDCAAE8AC3" xlink:to="lab_us-gaap_PaymentsForProceedsFromLoansAndLeases_49B41FD4A77895F30F9927BDCAAE8AC3" xlink:type="arc"/>

<link:label id="lab_us-gaap_PaymentsToAcquireAvailableForSaleSecurities_3E3A9E27CA43BCB522B727BDCAAE509B_negatedLabel_en-US" xlink:label="lab_us-gaap_PaymentsToAcquireAvailableForSaleSecurities_3E3A9E27CA43BCB522B727BDCAAE509B" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US"> Purchases of investment securities </link:label>

<link:label id="lab_us-gaap_PaymentsToAcquireAvailableForSaleSecurities_3E3A9E27CA43BCB522B727BDCAAE509B_label_en-US" xlink:label="lab_us-gaap_PaymentsToAcquireAvailableForSaleSecurities_3E3A9E27CA43BCB522B727BDCAAE509B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Payments to Acquire Available-for-sale Securities </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_PaymentsToAcquireAvailableForSaleSecurities" xlink:label="loc_us-gaap_PaymentsToAcquireAvailableForSaleSecurities_3E3A9E27CA43BCB522B727BDCAAE509B" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PaymentsToAcquireAvailableForSaleSecurities_3E3A9E27CA43BCB522B727BDCAAE509B" xlink:to="lab_us-gaap_PaymentsToAcquireAvailableForSaleSecurities_3E3A9E27CA43BCB522B727BDCAAE509B" xlink:type="arc"/>

<link:label id="lab_us-gaap_ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities_9A3495ADDBBC6AF6216B27BDCAAEA093_terseLabel_en-US" xlink:label="lab_us-gaap_ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities_9A3495ADDBBC6AF6216B27BDCAAEA093" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Proceeds from sales and maturities of investment securities </link:label>

<link:label id="lab_us-gaap_ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities_9A3495ADDBBC6AF6216B27BDCAAEA093_label_en-US" xlink:label="lab_us-gaap_ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities_9A3495ADDBBC6AF6216B27BDCAAEA093" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Proceeds from Sale and Maturity of Available-for-sale Securities </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities" xlink:label="loc_us-gaap_ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities_9A3495ADDBBC6AF6216B27BDCAAEA093" xlink:type="locator"/>

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<link:label id="lab_cit_ProceedsFromAssetAndReceivableSales_1406A9D73E3DB74355AC27BDCAAE7EE9_terseLabel_en-US" xlink:label="lab_cit_ProceedsFromAssetAndReceivableSales_1406A9D73E3DB74355AC27BDCAAE7EE9" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Proceeds from asset and receivable sales </link:label>

<link:label id="lab_cit_ProceedsFromAssetAndReceivableSales_1406A9D73E3DB74355AC27BDCAAE7EE9_label_en-US" xlink:label="lab_cit_ProceedsFromAssetAndReceivableSales_1406A9D73E3DB74355AC27BDCAAE7EE9" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Proceeds From Asset And Receivable Sales </link:label>

<link:label id="lab_cit_ProceedsFromAssetAndReceivableSales_1406A9D73E3DB74355AC27BDCAAE7EE9_documentation_en-US" xlink:label="lab_cit_ProceedsFromAssetAndReceivableSales_1406A9D73E3DB74355AC27BDCAAE7EE9" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Proceeds From Asset And Receivable Sales </link:label>

<link:loc xlink:href="cit-20180331.xsd#cit_ProceedsFromAssetAndReceivableSales" xlink:label="loc_cit_ProceedsFromAssetAndReceivableSales_1406A9D73E3DB74355AC27BDCAAE7EE9" xlink:type="locator"/>

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<link:label id="lab_us-gaap_PaymentsToAcquireMachineryAndEquipment_96A8D2D3737D58F0663727BDCAAE63DE_negatedLabel_en-US" xlink:label="lab_us-gaap_PaymentsToAcquireMachineryAndEquipment_96A8D2D3737D58F0663727BDCAAE63DE" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US"> Purchases of assets to be leased and other equipment </link:label>

<link:label id="lab_us-gaap_PaymentsToAcquireMachineryAndEquipment_96A8D2D3737D58F0663727BDCAAE63DE_label_en-US" xlink:label="lab_us-gaap_PaymentsToAcquireMachineryAndEquipment_96A8D2D3737D58F0663727BDCAAE63DE" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Payments to Acquire Machinery and Equipment </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_PaymentsToAcquireMachineryAndEquipment" xlink:label="loc_us-gaap_PaymentsToAcquireMachineryAndEquipment_96A8D2D3737D58F0663727BDCAAE63DE" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PaymentsToAcquireMachineryAndEquipment_96A8D2D3737D58F0663727BDCAAE63DE" xlink:to="lab_us-gaap_PaymentsToAcquireMachineryAndEquipment_96A8D2D3737D58F0663727BDCAAE63DE" xlink:type="arc"/>

<link:label id="lab_us-gaap_ProceedsFromSaleOfWhollyOwnedRealEstateAndRealEstateAcquiredInSettlementOfLoans_CFCCA0C1A6AF6221542F27BDCAAEA756_terseLabel_en-US" xlink:label="lab_us-gaap_ProceedsFromSaleOfWhollyOwnedRealEstateAndRealEstateAcquiredInSettlementOfLoans_CFCCA0C1A6AF6221542F27BDCAAEA756" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Proceeds from sale of OREO, net of repurchases </link:label>

<link:label id="lab_us-gaap_ProceedsFromSaleOfWhollyOwnedRealEstateAndRealEstateAcquiredInSettlementOfLoans_CFCCA0C1A6AF6221542F27BDCAAEA756_label_en-US" xlink:label="lab_us-gaap_ProceedsFromSaleOfWhollyOwnedRealEstateAndRealEstateAcquiredInSettlementOfLoans_CFCCA0C1A6AF6221542F27BDCAAEA756" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Proceeds from Sale of Wholly Owned Real Estate and Real Estate Acquired in Settlement of Loans </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ProceedsFromSaleOfWhollyOwnedRealEstateAndRealEstateAcquiredInSettlementOfLoans" xlink:label="loc_us-gaap_ProceedsFromSaleOfWhollyOwnedRealEstateAndRealEstateAcquiredInSettlementOfLoans_CFCCA0C1A6AF6221542F27BDCAAEA756" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProceedsFromSaleOfWhollyOwnedRealEstateAndRealEstateAcquiredInSettlementOfLoans_CFCCA0C1A6AF6221542F27BDCAAEA756" xlink:to="lab_us-gaap_ProceedsFromSaleOfWhollyOwnedRealEstateAndRealEstateAcquiredInSettlementOfLoans_CFCCA0C1A6AF6221542F27BDCAAEA756" xlink:type="arc"/>

<link:label id="lab_us-gaap_PaymentsForProceedsFromOtherInvestingActivities_61F5F6FF68EB36A734CC27BDCAAE0190_negatedLabel_en-US" xlink:label="lab_us-gaap_PaymentsForProceedsFromOtherInvestingActivities_61F5F6FF68EB36A734CC27BDCAAE0190" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US"> Other investing activities </link:label>

<link:label id="lab_us-gaap_PaymentsForProceedsFromOtherInvestingActivities_61F5F6FF68EB36A734CC27BDCAAE0190_label_en-US" xlink:label="lab_us-gaap_PaymentsForProceedsFromOtherInvestingActivities_61F5F6FF68EB36A734CC27BDCAAE0190" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Payments for (Proceeds from) Other Investing Activities </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_PaymentsForProceedsFromOtherInvestingActivities" xlink:label="loc_us-gaap_PaymentsForProceedsFromOtherInvestingActivities_61F5F6FF68EB36A734CC27BDCAAE0190" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PaymentsForProceedsFromOtherInvestingActivities_61F5F6FF68EB36A734CC27BDCAAE0190" xlink:to="lab_us-gaap_PaymentsForProceedsFromOtherInvestingActivities_61F5F6FF68EB36A734CC27BDCAAE0190" xlink:type="arc"/>

<link:label id="lab_us-gaap_NetCashProvidedByUsedInInvestingActivities_E545FB1FCCC2C4EA7E8A27BDCAAEF8C7_totalLabel_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInInvestingActivities_E545FB1FCCC2C4EA7E8A27BDCAAEF8C7" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US"> Net cash flows provided by investing activities </link:label>

<link:label id="lab_us-gaap_NetCashProvidedByUsedInInvestingActivities_E545FB1FCCC2C4EA7E8A27BDCAAEF8C7_label_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInInvestingActivities_E545FB1FCCC2C4EA7E8A27BDCAAEF8C7" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Net Cash Provided by (Used in) Investing Activities </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_NetCashProvidedByUsedInInvestingActivities" xlink:label="loc_us-gaap_NetCashProvidedByUsedInInvestingActivities_E545FB1FCCC2C4EA7E8A27BDCAAEF8C7" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NetCashProvidedByUsedInInvestingActivities_E545FB1FCCC2C4EA7E8A27BDCAAEF8C7" xlink:to="lab_us-gaap_NetCashProvidedByUsedInInvestingActivities_E545FB1FCCC2C4EA7E8A27BDCAAEF8C7" xlink:type="arc"/>

<link:label id="lab_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_18C9719520CBC8EAC9EF27BDCAAE1947_terseLabel_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_18C9719520CBC8EAC9EF27BDCAAE1947" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Cash Flows From Financing Activities </link:label>

<link:label id="lab_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_18C9719520CBC8EAC9EF27BDCAAE1947_label_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_18C9719520CBC8EAC9EF27BDCAAE1947" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Net Cash Provided by (Used in) Financing Activities [Abstract] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:label="loc_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_18C9719520CBC8EAC9EF27BDCAAE1947" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_18C9719520CBC8EAC9EF27BDCAAE1947" xlink:to="lab_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_18C9719520CBC8EAC9EF27BDCAAE1947" xlink:type="arc"/>

<link:label id="lab_us-gaap_ProceedsFromIssuanceOfLongTermDebt_CCC53AEE08FCFE4BCE8D27BDCAAE744A_verboseLabel_en-US" xlink:label="lab_us-gaap_ProceedsFromIssuanceOfLongTermDebt_CCC53AEE08FCFE4BCE8D27BDCAAE744A" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Proceeds from the issuance of term debt and FHLB advances </link:label>

<link:label id="lab_us-gaap_ProceedsFromIssuanceOfLongTermDebt_CCC53AEE08FCFE4BCE8D27BDCAAE744A_label_en-US" xlink:label="lab_us-gaap_ProceedsFromIssuanceOfLongTermDebt_CCC53AEE08FCFE4BCE8D27BDCAAE744A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Proceeds from Issuance of Long-term Debt </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ProceedsFromIssuanceOfLongTermDebt" xlink:label="loc_us-gaap_ProceedsFromIssuanceOfLongTermDebt_CCC53AEE08FCFE4BCE8D27BDCAAE744A" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProceedsFromIssuanceOfLongTermDebt_CCC53AEE08FCFE4BCE8D27BDCAAE744A" xlink:to="lab_us-gaap_ProceedsFromIssuanceOfLongTermDebt_CCC53AEE08FCFE4BCE8D27BDCAAE744A" xlink:type="arc"/>

<link:label id="lab_us-gaap_RepaymentsOfLongTermDebt_1B4E3714203A624AABCF27BDCAAEAC89_negatedLabel_en-US" xlink:label="lab_us-gaap_RepaymentsOfLongTermDebt_1B4E3714203A624AABCF27BDCAAEAC89" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US"> Repayments of term debt, FHLB advances, and net settlements </link:label>

<link:label id="lab_us-gaap_RepaymentsOfLongTermDebt_1B4E3714203A624AABCF27BDCAAEAC89_label_en-US" xlink:label="lab_us-gaap_RepaymentsOfLongTermDebt_1B4E3714203A624AABCF27BDCAAEAC89" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Repayments of Long-term Debt </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_RepaymentsOfLongTermDebt" xlink:label="loc_us-gaap_RepaymentsOfLongTermDebt_1B4E3714203A624AABCF27BDCAAEAC89" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RepaymentsOfLongTermDebt_1B4E3714203A624AABCF27BDCAAEAC89" xlink:to="lab_us-gaap_RepaymentsOfLongTermDebt_1B4E3714203A624AABCF27BDCAAEAC89" xlink:type="arc"/>

<link:label id="lab_us-gaap_IncreaseDecreaseInDeposits_0E6128AD907281B83E3927BDCAAED75F_verboseLabel_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInDeposits_0E6128AD907281B83E3927BDCAAED75F" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Net increase in deposits </link:label>

<link:label id="lab_us-gaap_IncreaseDecreaseInDeposits_0E6128AD907281B83E3927BDCAAED75F_label_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInDeposits_0E6128AD907281B83E3927BDCAAED75F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Increase (Decrease) in Deposits </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_IncreaseDecreaseInDeposits" xlink:label="loc_us-gaap_IncreaseDecreaseInDeposits_0E6128AD907281B83E3927BDCAAED75F" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncreaseDecreaseInDeposits_0E6128AD907281B83E3927BDCAAED75F" xlink:to="lab_us-gaap_IncreaseDecreaseInDeposits_0E6128AD907281B83E3927BDCAAED75F" xlink:type="arc"/>

<link:label id="lab_us-gaap_PaymentsForRepurchaseOfCommonStock_A05E83F2A3F99469935B27BDCAAE6A0F_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_PaymentsForRepurchaseOfCommonStock_A05E83F2A3F99469935B27BDCAAE6A0F" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US"> Repurchase of common stock </link:label>

<link:label id="lab_us-gaap_PaymentsForRepurchaseOfCommonStock_A05E83F2A3F99469935B27BDCAAE6A0F_label_en-US" xlink:label="lab_us-gaap_PaymentsForRepurchaseOfCommonStock_A05E83F2A3F99469935B27BDCAAE6A0F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Payments for Repurchase of Common Stock </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_PaymentsForRepurchaseOfCommonStock" xlink:label="loc_us-gaap_PaymentsForRepurchaseOfCommonStock_A05E83F2A3F99469935B27BDCAAE6A0F" xlink:type="locator"/>

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<link:label id="lab_us-gaap_PaymentsOfDividends_43469871987C09D6945B27BDCAAFBBD3_negatedLabel_en-US" xlink:label="lab_us-gaap_PaymentsOfDividends_43469871987C09D6945B27BDCAAFBBD3" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US"> Dividends paid </link:label>

<link:label id="lab_us-gaap_PaymentsOfDividends_43469871987C09D6945B27BDCAAFBBD3_label_en-US" xlink:label="lab_us-gaap_PaymentsOfDividends_43469871987C09D6945B27BDCAAFBBD3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Payments of Dividends </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_PaymentsOfDividends" xlink:label="loc_us-gaap_PaymentsOfDividends_43469871987C09D6945B27BDCAAFBBD3" xlink:type="locator"/>

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<link:label id="lab_us-gaap_ProceedsFromPaymentsForOtherFinancingActivities_B54F18F2FAAF2D1E886627BDCAAFCA85_terseLabel_en-US" xlink:label="lab_us-gaap_ProceedsFromPaymentsForOtherFinancingActivities_B54F18F2FAAF2D1E886627BDCAAFCA85" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Other financing activities </link:label>

<link:label id="lab_us-gaap_ProceedsFromPaymentsForOtherFinancingActivities_B54F18F2FAAF2D1E886627BDCAAFCA85_label_en-US" xlink:label="lab_us-gaap_ProceedsFromPaymentsForOtherFinancingActivities_B54F18F2FAAF2D1E886627BDCAAFCA85" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Proceeds from (Payments for) Other Financing Activities </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ProceedsFromPaymentsForOtherFinancingActivities" xlink:label="loc_us-gaap_ProceedsFromPaymentsForOtherFinancingActivities_B54F18F2FAAF2D1E886627BDCAAFCA85" xlink:type="locator"/>

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<link:label id="lab_us-gaap_NetCashProvidedByUsedInFinancingActivities_1B7284E3D83B6D7C517527BDCAAF9635_totalLabel_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInFinancingActivities_1B7284E3D83B6D7C517527BDCAAF9635" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US"> Net cash flows provided by (used in) financing activities </link:label>

<link:label id="lab_us-gaap_NetCashProvidedByUsedInFinancingActivities_1B7284E3D83B6D7C517527BDCAAF9635_label_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInFinancingActivities_1B7284E3D83B6D7C517527BDCAAF9635" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Net Cash Provided by (Used in) Financing Activities </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_NetCashProvidedByUsedInFinancingActivities" xlink:label="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities_1B7284E3D83B6D7C517527BDCAAF9635" xlink:type="locator"/>

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<link:label id="lab_us-gaap_EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations_06942B89108661FC7B6927BDCAAF8E1F_terseLabel_en-US" xlink:label="lab_us-gaap_EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations_06942B89108661FC7B6927BDCAAF8E1F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Effect of exchange rate changes on cash and cash equivalents </link:label>

<link:label id="lab_us-gaap_EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations_06942B89108661FC7B6927BDCAAF8E1F_label_en-US" xlink:label="lab_us-gaap_EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations_06942B89108661FC7B6927BDCAAF8E1F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Including Disposal Group and Discontinued Operations </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations" xlink:label="loc_us-gaap_EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations_06942B89108661FC7B6927BDCAAF8E1F" xlink:type="locator"/>

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<link:label id="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect_CF93AA5C1BC5A1F366CE27BDCAAF91E3_totalLabel_en-US" xlink:label="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect_CF93AA5C1BC5A1F366CE27BDCAAF91E3" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US"> Increase (decrease) in cash, cash equivalents and restricted cash </link:label>

<link:label id="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect_CF93AA5C1BC5A1F366CE27BDCAAF91E3_label_en-US" xlink:label="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect_CF93AA5C1BC5A1F366CE27BDCAAF91E3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Excluding Exchange Rate Effect </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect" xlink:label="loc_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect_CF93AA5C1BC5A1F366CE27BDCAAF91E3" xlink:type="locator"/>

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<link:label id="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations_B881B634F72B3085B4E027BDCAAF64F7_periodStartLabel_en-US" xlink:label="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations_B881B634F72B3085B4E027BDCAAF64F7" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US"> Cash, cash equivalents, and restricted cash beginning of period </link:label>

<link:label id="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations_B881B634F72B3085B4E027BDCAAF64F7_label_en-US" xlink:label="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations_B881B634F72B3085B4E027BDCAAF64F7" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Including Disposal Group and Discontinued Operations </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations" xlink:label="loc_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations_B881B634F72B3085B4E027BDCAAF64F7" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations_B881B634F72B3085B4E027BDCAAF64F7" xlink:to="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations_B881B634F72B3085B4E027BDCAAF64F7" xlink:type="arc"/>

<link:label id="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations_FB37380775517CCBCAE827BDCAAFD672_periodEndLabel_en-US" xlink:label="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations_FB37380775517CCBCAE827BDCAAFD672" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US"> Cash, cash equivalents, and restricted cash end of period </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations" xlink:label="loc_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations_FB37380775517CCBCAE827BDCAAFD672" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations_FB37380775517CCBCAE827BDCAAFD672" xlink:to="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations_FB37380775517CCBCAE827BDCAAFD672" xlink:type="arc"/>

<link:label id="lab_us-gaap_SupplementalCashFlowInformationAbstract_F3AB85D98489F2AB362A27BDCAAF2A90_terseLabel_en-US" xlink:label="lab_us-gaap_SupplementalCashFlowInformationAbstract_F3AB85D98489F2AB362A27BDCAAF2A90" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Supplementary Cash Flow Disclosures </link:label>

<link:label id="lab_us-gaap_SupplementalCashFlowInformationAbstract_F3AB85D98489F2AB362A27BDCAAF2A90_label_en-US" xlink:label="lab_us-gaap_SupplementalCashFlowInformationAbstract_F3AB85D98489F2AB362A27BDCAAF2A90" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Supplemental Cash Flow Information [Abstract] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_SupplementalCashFlowInformationAbstract" xlink:label="loc_us-gaap_SupplementalCashFlowInformationAbstract_F3AB85D98489F2AB362A27BDCAAF2A90" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SupplementalCashFlowInformationAbstract_F3AB85D98489F2AB362A27BDCAAF2A90" xlink:to="lab_us-gaap_SupplementalCashFlowInformationAbstract_F3AB85D98489F2AB362A27BDCAAF2A90" xlink:type="arc"/>

<link:label id="lab_cit_InterestPaidForCashFlowPurposes_429B36AA65C751F7387727BDCAAFA714_negatedLabel_en-US" xlink:label="lab_cit_InterestPaidForCashFlowPurposes_429B36AA65C751F7387727BDCAAFA714" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US"> Interest paid </link:label>

<link:label id="lab_cit_InterestPaidForCashFlowPurposes_429B36AA65C751F7387727BDCAAFA714_label_en-US" xlink:label="lab_cit_InterestPaidForCashFlowPurposes_429B36AA65C751F7387727BDCAAFA714" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Interest Paid, For Cash Flow Purposes </link:label>

<link:label id="lab_cit_InterestPaidForCashFlowPurposes_429B36AA65C751F7387727BDCAAFA714_documentation_en-US" xlink:label="lab_cit_InterestPaidForCashFlowPurposes_429B36AA65C751F7387727BDCAAFA714" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Interest paid, for cash flow purposes. </link:label>

<link:loc xlink:href="cit-20180331.xsd#cit_InterestPaidForCashFlowPurposes" xlink:label="loc_cit_InterestPaidForCashFlowPurposes_429B36AA65C751F7387727BDCAAFA714" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cit_InterestPaidForCashFlowPurposes_429B36AA65C751F7387727BDCAAFA714" xlink:to="lab_cit_InterestPaidForCashFlowPurposes_429B36AA65C751F7387727BDCAAFA714" xlink:type="arc"/>

<link:label id="lab_us-gaap_IncomeTaxesPaidNet_336A5E0172D09B3622C227BDCAAFBBCF_terseLabel_en-US" xlink:label="lab_us-gaap_IncomeTaxesPaidNet_336A5E0172D09B3622C227BDCAAFBBCF" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Federal, foreign, state and local income taxes (paid) refunded, net </link:label>

<link:label id="lab_us-gaap_IncomeTaxesPaidNet_336A5E0172D09B3622C227BDCAAFBBCF_label_en-US" xlink:label="lab_us-gaap_IncomeTaxesPaidNet_336A5E0172D09B3622C227BDCAAFBBCF" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Income Taxes Paid, Net </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_IncomeTaxesPaidNet" xlink:label="loc_us-gaap_IncomeTaxesPaidNet_336A5E0172D09B3622C227BDCAAFBBCF" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncomeTaxesPaidNet_336A5E0172D09B3622C227BDCAAFBBCF" xlink:to="lab_us-gaap_IncomeTaxesPaidNet_336A5E0172D09B3622C227BDCAAFBBCF" xlink:type="arc"/>

<link:label id="lab_us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract_667145F72FA3D420899A27BDCAAF1CAF_terseLabel_en-US" xlink:label="lab_us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract_667145F72FA3D420899A27BDCAAF1CAF" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Supplementary Non Cash Flow Disclosure </link:label>

<link:label id="lab_us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract_667145F72FA3D420899A27BDCAAF1CAF_label_en-US" xlink:label="lab_us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract_667145F72FA3D420899A27BDCAAF1CAF" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Cash Flow, Noncash Investing and Financing Activities Disclosure [Abstract] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract" xlink:label="loc_us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract_667145F72FA3D420899A27BDCAAF1CAF" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract_667145F72FA3D420899A27BDCAAF1CAF" xlink:to="lab_us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract_667145F72FA3D420899A27BDCAAF1CAF" xlink:type="arc"/>

<link:label id="lab_us-gaap_TransferOfPortfolioLoansAndLeasesToHeldForSale1_F5DCD1F05A6AFFF0337727BDCAAF5A27_terseLabel_en-US" xlink:label="lab_us-gaap_TransferOfPortfolioLoansAndLeasesToHeldForSale1_F5DCD1F05A6AFFF0337727BDCAAF5A27" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Transfer of assets from held for investment to held for sale </link:label>

<link:label id="lab_us-gaap_TransferOfPortfolioLoansAndLeasesToHeldForSale1_F5DCD1F05A6AFFF0337727BDCAAF5A27_label_en-US" xlink:label="lab_us-gaap_TransferOfPortfolioLoansAndLeasesToHeldForSale1_F5DCD1F05A6AFFF0337727BDCAAF5A27" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Transfer of Portfolio Loans and Leases to Held-for-sale </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_TransferOfPortfolioLoansAndLeasesToHeldForSale1" xlink:label="loc_us-gaap_TransferOfPortfolioLoansAndLeasesToHeldForSale1_F5DCD1F05A6AFFF0337727BDCAAF5A27" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_TransferOfPortfolioLoansAndLeasesToHeldForSale1_F5DCD1F05A6AFFF0337727BDCAAF5A27" xlink:to="lab_us-gaap_TransferOfPortfolioLoansAndLeasesToHeldForSale1_F5DCD1F05A6AFFF0337727BDCAAF5A27" xlink:type="arc"/>

<link:label id="lab_us-gaap_TransferOfLoansHeldForSaleToPortfolioLoans1_322ED96768C0176068DE27BDCAAF55EF_terseLabel_en-US" xlink:label="lab_us-gaap_TransferOfLoansHeldForSaleToPortfolioLoans1_322ED96768C0176068DE27BDCAAF55EF" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Transfer of assets from held for sale to held for investment </link:label>

<link:label id="lab_us-gaap_TransferOfLoansHeldForSaleToPortfolioLoans1_322ED96768C0176068DE27BDCAAF55EF_label_en-US" xlink:label="lab_us-gaap_TransferOfLoansHeldForSaleToPortfolioLoans1_322ED96768C0176068DE27BDCAAF55EF" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Transfer of Loans Held-for-sale to Portfolio Loans </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_TransferOfLoansHeldForSaleToPortfolioLoans1" xlink:label="loc_us-gaap_TransferOfLoansHeldForSaleToPortfolioLoans1_322ED96768C0176068DE27BDCAAF55EF" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_TransferOfLoansHeldForSaleToPortfolioLoans1_322ED96768C0176068DE27BDCAAF55EF" xlink:to="lab_us-gaap_TransferOfLoansHeldForSaleToPortfolioLoans1_322ED96768C0176068DE27BDCAAF55EF" xlink:type="arc"/>

<link:label id="lab_us-gaap_OtherSignificantNoncashTransactionValueOfConsiderationGiven1_D9279278ADBE1699FF3D27BDCAAF6934_terseLabel_en-US" xlink:label="lab_us-gaap_OtherSignificantNoncashTransactionValueOfConsiderationGiven1_D9279278ADBE1699FF3D27BDCAAF6934" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Deposits on flight equipment purchases applied to acquisition of flight equipment purchases, and origination of finance leases, capitalized interest, and buyer furnished equipment </link:label>

<link:label id="lab_us-gaap_OtherSignificantNoncashTransactionValueOfConsiderationGiven1_D9279278ADBE1699FF3D27BDCAAF6934_label_en-US" xlink:label="lab_us-gaap_OtherSignificantNoncashTransactionValueOfConsiderationGiven1_D9279278ADBE1699FF3D27BDCAAF6934" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Other Significant Noncash Transaction, Value of Consideration Given </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_OtherSignificantNoncashTransactionValueOfConsiderationGiven1" xlink:label="loc_us-gaap_OtherSignificantNoncashTransactionValueOfConsiderationGiven1_D9279278ADBE1699FF3D27BDCAAF6934" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherSignificantNoncashTransactionValueOfConsiderationGiven1_D9279278ADBE1699FF3D27BDCAAF6934" xlink:to="lab_us-gaap_OtherSignificantNoncashTransactionValueOfConsiderationGiven1_D9279278ADBE1699FF3D27BDCAAF6934" xlink:type="arc"/>

<link:label id="lab_cit_TransferOfAssetsFromHeldForInvestmentToOreo_BB9E93D06E301EE9367C27BDCAAFA952_terseLabel_en-US" xlink:label="lab_cit_TransferOfAssetsFromHeldForInvestmentToOreo_BB9E93D06E301EE9367C27BDCAAFA952" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Transfers of assets to OREO </link:label>

<link:label id="lab_cit_TransferOfAssetsFromHeldForInvestmentToOreo_BB9E93D06E301EE9367C27BDCAAFA952_label_en-US" xlink:label="lab_cit_TransferOfAssetsFromHeldForInvestmentToOreo_BB9E93D06E301EE9367C27BDCAAFA952" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Transfer of assets from held for investment to OREO </link:label>

<link:label id="lab_cit_TransferOfAssetsFromHeldForInvestmentToOreo_BB9E93D06E301EE9367C27BDCAAFA952_documentation_en-US" xlink:label="lab_cit_TransferOfAssetsFromHeldForInvestmentToOreo_BB9E93D06E301EE9367C27BDCAAFA952" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Transfer of assets from held for investment to OREO </link:label>

<link:loc xlink:href="cit-20180331.xsd#cit_TransferOfAssetsFromHeldForInvestmentToOreo" xlink:label="loc_cit_TransferOfAssetsFromHeldForInvestmentToOreo_BB9E93D06E301EE9367C27BDCAAFA952" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cit_TransferOfAssetsFromHeldForInvestmentToOreo_BB9E93D06E301EE9367C27BDCAAFA952" xlink:to="lab_cit_TransferOfAssetsFromHeldForInvestmentToOreo_BB9E93D06E301EE9367C27BDCAAFA952" xlink:type="arc"/>

<link:label id="lab_us-gaap_CapitalExpendituresIncurredButNotYetPaid_284F4C3160C7602A185127BDCAAF5349_terseLabel_en-US" xlink:label="lab_us-gaap_CapitalExpendituresIncurredButNotYetPaid_284F4C3160C7602A185127BDCAAF5349" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Capital lease unexercised bargain purchase options </link:label>

<link:label id="lab_us-gaap_CapitalExpendituresIncurredButNotYetPaid_284F4C3160C7602A185127BDCAAF5349_label_en-US" xlink:label="lab_us-gaap_CapitalExpendituresIncurredButNotYetPaid_284F4C3160C7602A185127BDCAAF5349" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Capital Expenditures Incurred but Not yet Paid </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_CapitalExpendituresIncurredButNotYetPaid" xlink:label="loc_us-gaap_CapitalExpendituresIncurredButNotYetPaid_284F4C3160C7602A185127BDCAAF5349" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CapitalExpendituresIncurredButNotYetPaid_284F4C3160C7602A185127BDCAAF5349" xlink:to="lab_us-gaap_CapitalExpendituresIncurredButNotYetPaid_284F4C3160C7602A185127BDCAAF5349" xlink:type="arc"/>

<link:label id="lab_us-gaap_QualifiedAffordableHousingProjectInvestmentsCommitment_9C0B3C510A47B1EBE67327BDCAB0C244_terseLabel_en-US" xlink:label="lab_us-gaap_QualifiedAffordableHousingProjectInvestmentsCommitment_9C0B3C510A47B1EBE67327BDCAB0C244" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Commitments extended during the period on affordable housing investment credits </link:label>

<link:label id="lab_us-gaap_QualifiedAffordableHousingProjectInvestmentsCommitment_9C0B3C510A47B1EBE67327BDCAB0C244_label_en-US" xlink:label="lab_us-gaap_QualifiedAffordableHousingProjectInvestmentsCommitment_9C0B3C510A47B1EBE67327BDCAB0C244" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Qualified Affordable Housing Project Investments, Commitment </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_QualifiedAffordableHousingProjectInvestmentsCommitment" xlink:label="loc_us-gaap_QualifiedAffordableHousingProjectInvestmentsCommitment_9C0B3C510A47B1EBE67327BDCAB0C244" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_QualifiedAffordableHousingProjectInvestmentsCommitment_9C0B3C510A47B1EBE67327BDCAB0C244" xlink:to="lab_us-gaap_QualifiedAffordableHousingProjectInvestmentsCommitment_9C0B3C510A47B1EBE67327BDCAB0C244" xlink:type="arc"/>

<link:label id="lab_cit_CashAndDueFromBanksIncludingRestrictedCash_B3A04829428DCE4E39C527BDCAB0FD33_terseLabel_en-US" xlink:label="lab_cit_CashAndDueFromBanksIncludingRestrictedCash_B3A04829428DCE4E39C527BDCAB0FD33" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Cash and due from banks </link:label>

<link:label id="lab_cit_CashAndDueFromBanksIncludingRestrictedCash_B3A04829428DCE4E39C527BDCAB0FD33_label_en-US" xlink:label="lab_cit_CashAndDueFromBanksIncludingRestrictedCash_B3A04829428DCE4E39C527BDCAB0FD33" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Cash And Due From Banks, Including Restricted Cash </link:label>

<link:label id="lab_cit_CashAndDueFromBanksIncludingRestrictedCash_B3A04829428DCE4E39C527BDCAB0FD33_documentation_en-US" xlink:label="lab_cit_CashAndDueFromBanksIncludingRestrictedCash_B3A04829428DCE4E39C527BDCAB0FD33" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> For banks and other depository institutions: Includes cash on hand (currency and coin), restricted cash, cash items in process of collection, noninterest bearing deposits due from other financial institutions (including corporate credit unions), and noninterest bearing balances with the Federal Reserve Banks, Federal Home Loan Banks and central banks. </link:label>

<link:loc xlink:href="cit-20180331.xsd#cit_CashAndDueFromBanksIncludingRestrictedCash" xlink:label="loc_cit_CashAndDueFromBanksIncludingRestrictedCash_B3A04829428DCE4E39C527BDCAB0FD33" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cit_CashAndDueFromBanksIncludingRestrictedCash_B3A04829428DCE4E39C527BDCAB0FD33" xlink:to="lab_cit_CashAndDueFromBanksIncludingRestrictedCash_B3A04829428DCE4E39C527BDCAB0FD33" xlink:type="arc"/>

<link:label id="lab_cit_DisposalGroupIncludingDiscontinuedOperationRestrictedCash_7F80FF2161B337500A7E27BDCAB007B5_terseLabel_en-US" xlink:label="lab_cit_DisposalGroupIncludingDiscontinuedOperationRestrictedCash_7F80FF2161B337500A7E27BDCAB007B5" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Cash included in assets of discontinued operations </link:label>

<link:label id="lab_cit_DisposalGroupIncludingDiscontinuedOperationRestrictedCash_7F80FF2161B337500A7E27BDCAB007B5_label_en-US" xlink:label="lab_cit_DisposalGroupIncludingDiscontinuedOperationRestrictedCash_7F80FF2161B337500A7E27BDCAB007B5" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Disposal Group, Including Discontinued Operation, Restricted Cash </link:label>

<link:label id="lab_cit_DisposalGroupIncludingDiscontinuedOperationRestrictedCash_7F80FF2161B337500A7E27BDCAB007B5_documentation_en-US" xlink:label="lab_cit_DisposalGroupIncludingDiscontinuedOperationRestrictedCash_7F80FF2161B337500A7E27BDCAB007B5" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Amount classified as restricted cash attributable to disposal group held for sale or disposed of. </link:label>

<link:loc xlink:href="cit-20180331.xsd#cit_DisposalGroupIncludingDiscontinuedOperationRestrictedCash" xlink:label="loc_cit_DisposalGroupIncludingDiscontinuedOperationRestrictedCash_7F80FF2161B337500A7E27BDCAB007B5" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cit_DisposalGroupIncludingDiscontinuedOperationRestrictedCash_7F80FF2161B337500A7E27BDCAB007B5" xlink:to="lab_cit_DisposalGroupIncludingDiscontinuedOperationRestrictedCash_7F80FF2161B337500A7E27BDCAB007B5" xlink:type="arc"/>

<link:label id="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations_39232FDEEEA08809B13927BDCAB037C8_totalLabel_en-US" xlink:label="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations_39232FDEEEA08809B13927BDCAB037C8" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US"> Total cash, cash equivalents, and restricted cash shown in the Statements of Cash Flows </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations" xlink:label="loc_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations_39232FDEEEA08809B13927BDCAB037C8" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations_39232FDEEEA08809B13927BDCAB037C8" xlink:to="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations_39232FDEEEA08809B13927BDCAB037C8" xlink:type="arc"/>

<link:label id="lab_cit_DisposalGroupIncludingDiscontinuedOperationGainLossOnExtinguishmentOfDebt_1970B9C7CEA357AE8D7723D83BC940DD_negatedLabel_en-US" xlink:label="lab_cit_DisposalGroupIncludingDiscontinuedOperationGainLossOnExtinguishmentOfDebt_1970B9C7CEA357AE8D7723D83BC940DD" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US"> Loss on debt extinguishment </link:label>

<link:loc xlink:href="cit-20180331.xsd#cit_DisposalGroupIncludingDiscontinuedOperationGainLossOnExtinguishmentOfDebt" xlink:label="loc_cit_DisposalGroupIncludingDiscontinuedOperationGainLossOnExtinguishmentOfDebt_1970B9C7CEA357AE8D7723D83BC940DD" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cit_DisposalGroupIncludingDiscontinuedOperationGainLossOnExtinguishmentOfDebt_1970B9C7CEA357AE8D7723D83BC940DD" xlink:to="lab_cit_DisposalGroupIncludingDiscontinuedOperationGainLossOnExtinguishmentOfDebt_1970B9C7CEA357AE8D7723D83BC940DD" xlink:type="arc"/>

<link:label id="lab_us-gaap_DiscontinuedOperationTaxEffectOfIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriod_90AF8B5C127258D19D7C23D83BC9721E_terseLabel_en-US" xlink:label="lab_us-gaap_DiscontinuedOperationTaxEffectOfIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriod_90AF8B5C127258D19D7C23D83BC9721E" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> (Benefit) provision for income taxes </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_DiscontinuedOperationTaxEffectOfIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriod" xlink:label="loc_us-gaap_DiscontinuedOperationTaxEffectOfIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriod_90AF8B5C127258D19D7C23D83BC9721E" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DiscontinuedOperationTaxEffectOfIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriod_90AF8B5C127258D19D7C23D83BC9721E" xlink:to="lab_us-gaap_DiscontinuedOperationTaxEffectOfIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriod_90AF8B5C127258D19D7C23D83BC9721E" xlink:type="arc"/>

<link:label id="lab_us-gaap_FinancingReceivableAllowanceForCreditLossesRollForward_C9364F779852B49197DC087759BD1D69_terseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableAllowanceForCreditLossesRollForward_C9364F779852B49197DC087759BD1D69" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Financing Receivable, Allowance for Credit Losses [Roll Forward] </link:label>

<link:label id="lab_us-gaap_FinancingReceivableAllowanceForCreditLossesRollForward_C9364F779852B49197DC087759BD1D69_label_en-US" xlink:label="lab_us-gaap_FinancingReceivableAllowanceForCreditLossesRollForward_C9364F779852B49197DC087759BD1D69" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Financing Receivable, Allowance for Credit Losses [Roll Forward] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_FinancingReceivableAllowanceForCreditLossesRollForward" xlink:label="loc_us-gaap_FinancingReceivableAllowanceForCreditLossesRollForward_C9364F779852B49197DC087759BD1D69" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinancingReceivableAllowanceForCreditLossesRollForward_C9364F779852B49197DC087759BD1D69" xlink:to="lab_us-gaap_FinancingReceivableAllowanceForCreditLossesRollForward_C9364F779852B49197DC087759BD1D69" xlink:type="arc"/>

<link:label id="lab_us-gaap_LoansAndLeasesReceivableAllowance_88689D76E67BA81D03FD087759BDBD6A_periodStartLabel_en-US" xlink:label="lab_us-gaap_LoansAndLeasesReceivableAllowance_88689D76E67BA81D03FD087759BDBD6A" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US"> Beginning balance </link:label>

<link:label id="lab_us-gaap_LoansAndLeasesReceivableAllowance_88689D76E67BA81D03FD087759BDBD6A_label_en-US" xlink:label="lab_us-gaap_LoansAndLeasesReceivableAllowance_88689D76E67BA81D03FD087759BDBD6A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Loans and Leases Receivable, Allowance </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_LoansAndLeasesReceivableAllowance" xlink:label="loc_us-gaap_LoansAndLeasesReceivableAllowance_88689D76E67BA81D03FD087759BDBD6A" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LoansAndLeasesReceivableAllowance_88689D76E67BA81D03FD087759BDBD6A" xlink:to="lab_us-gaap_LoansAndLeasesReceivableAllowance_88689D76E67BA81D03FD087759BDBD6A" xlink:type="arc"/>

<link:label id="lab_us-gaap_ProvisionForLoanAndLeaseLosses_58D0BCFA554F122D811F087759BDE88B_verboseLabel_en-US" xlink:label="lab_us-gaap_ProvisionForLoanAndLeaseLosses_58D0BCFA554F122D811F087759BDE88B" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Provision for credit losses </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ProvisionForLoanAndLeaseLosses" xlink:label="loc_us-gaap_ProvisionForLoanAndLeaseLosses_58D0BCFA554F122D811F087759BDE88B" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProvisionForLoanAndLeaseLosses_58D0BCFA554F122D811F087759BDE88B" xlink:to="lab_us-gaap_ProvisionForLoanAndLeaseLosses_58D0BCFA554F122D811F087759BDE88B" xlink:type="arc"/>

<link:label id="lab_us-gaap_AllowanceForLoanAndLeaseLossesAdjustmentsNet_D8BAC8230032D265F778087759BD3437_terseLabel_en-US" xlink:label="lab_us-gaap_AllowanceForLoanAndLeaseLossesAdjustmentsNet_D8BAC8230032D265F778087759BD3437" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Other </link:label>

<link:label id="lab_us-gaap_AllowanceForLoanAndLeaseLossesAdjustmentsNet_D8BAC8230032D265F778087759BD3437_label_en-US" xlink:label="lab_us-gaap_AllowanceForLoanAndLeaseLossesAdjustmentsNet_D8BAC8230032D265F778087759BD3437" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Allowance for Loan and Lease Losses, Adjustments, Other </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_AllowanceForLoanAndLeaseLossesAdjustmentsNet" xlink:label="loc_us-gaap_AllowanceForLoanAndLeaseLossesAdjustmentsNet_D8BAC8230032D265F778087759BD3437" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AllowanceForLoanAndLeaseLossesAdjustmentsNet_D8BAC8230032D265F778087759BD3437" xlink:to="lab_us-gaap_AllowanceForLoanAndLeaseLossesAdjustmentsNet_D8BAC8230032D265F778087759BD3437" xlink:type="arc"/>

<link:label id="lab_us-gaap_AllowanceForLoanAndLeaseLossesWriteOffs_EBD7F8BE7B11C7ED0568087759BE6737_negatedLabel_en-US" xlink:label="lab_us-gaap_AllowanceForLoanAndLeaseLossesWriteOffs_EBD7F8BE7B11C7ED0568087759BE6737" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US"> Gross charge-offs </link:label>

<link:label id="lab_us-gaap_AllowanceForLoanAndLeaseLossesWriteOffs_EBD7F8BE7B11C7ED0568087759BE6737_label_en-US" xlink:label="lab_us-gaap_AllowanceForLoanAndLeaseLossesWriteOffs_EBD7F8BE7B11C7ED0568087759BE6737" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Allowance for Loan and Lease Losses, Write-offs </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_AllowanceForLoanAndLeaseLossesWriteOffs" xlink:label="loc_us-gaap_AllowanceForLoanAndLeaseLossesWriteOffs_EBD7F8BE7B11C7ED0568087759BE6737" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AllowanceForLoanAndLeaseLossesWriteOffs_EBD7F8BE7B11C7ED0568087759BE6737" xlink:to="lab_us-gaap_AllowanceForLoanAndLeaseLossesWriteOffs_EBD7F8BE7B11C7ED0568087759BE6737" xlink:type="arc"/>

<link:label id="lab_us-gaap_AllowanceForLoanAndLeaseLossRecoveryOfBadDebts_A8827F05B3CC46B7E0E5087759BED471_verboseLabel_en-US" xlink:label="lab_us-gaap_AllowanceForLoanAndLeaseLossRecoveryOfBadDebts_A8827F05B3CC46B7E0E5087759BED471" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Recoveries </link:label>

<link:label id="lab_us-gaap_AllowanceForLoanAndLeaseLossRecoveryOfBadDebts_A8827F05B3CC46B7E0E5087759BED471_label_en-US" xlink:label="lab_us-gaap_AllowanceForLoanAndLeaseLossRecoveryOfBadDebts_A8827F05B3CC46B7E0E5087759BED471" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Allowance for Loan and Lease Loss, Recovery of Bad Debts </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_AllowanceForLoanAndLeaseLossRecoveryOfBadDebts" xlink:label="loc_us-gaap_AllowanceForLoanAndLeaseLossRecoveryOfBadDebts_A8827F05B3CC46B7E0E5087759BED471" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AllowanceForLoanAndLeaseLossRecoveryOfBadDebts_A8827F05B3CC46B7E0E5087759BED471" xlink:to="lab_us-gaap_AllowanceForLoanAndLeaseLossRecoveryOfBadDebts_A8827F05B3CC46B7E0E5087759BED471" xlink:type="arc"/>

<link:label id="lab_us-gaap_LoansAndLeasesReceivableAllowance_3FD33485F48A2BA8D319087759BE13C3_periodEndLabel_en-US" xlink:label="lab_us-gaap_LoansAndLeasesReceivableAllowance_3FD33485F48A2BA8D319087759BE13C3" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US"> Allowance balance - end of period </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_LoansAndLeasesReceivableAllowance" xlink:label="loc_us-gaap_LoansAndLeasesReceivableAllowance_3FD33485F48A2BA8D319087759BE13C3" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LoansAndLeasesReceivableAllowance_3FD33485F48A2BA8D319087759BE13C3" xlink:to="lab_us-gaap_LoansAndLeasesReceivableAllowance_3FD33485F48A2BA8D319087759BE13C3" xlink:type="arc"/>

<link:label id="lab_us-gaap_FinancingReceivableAllowanceForCreditLossAdditionalInformationAbstract_B7026C33B4D0B853895F087759BECB44_terseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableAllowanceForCreditLossAdditionalInformationAbstract_B7026C33B4D0B853895F087759BECB44" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Allowance balance </link:label>

<link:label id="lab_us-gaap_FinancingReceivableAllowanceForCreditLossAdditionalInformationAbstract_B7026C33B4D0B853895F087759BECB44_label_en-US" xlink:label="lab_us-gaap_FinancingReceivableAllowanceForCreditLossAdditionalInformationAbstract_B7026C33B4D0B853895F087759BECB44" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_FinancingReceivableAllowanceForCreditLossAdditionalInformationAbstract" xlink:label="loc_us-gaap_FinancingReceivableAllowanceForCreditLossAdditionalInformationAbstract_B7026C33B4D0B853895F087759BECB44" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinancingReceivableAllowanceForCreditLossAdditionalInformationAbstract_B7026C33B4D0B853895F087759BECB44" xlink:to="lab_us-gaap_FinancingReceivableAllowanceForCreditLossAdditionalInformationAbstract_B7026C33B4D0B853895F087759BECB44" xlink:type="arc"/>

<link:label id="lab_us-gaap_FinancingReceivableAllowanceForCreditLossesIndividuallyEvaluatedForImpairment1_E582FFF9D969DA14D1B4087759BEDD0C_terseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableAllowanceForCreditLossesIndividuallyEvaluatedForImpairment1_E582FFF9D969DA14D1B4087759BEDD0C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Loans individually evaluated for impairment </link:label>

<link:label id="lab_us-gaap_FinancingReceivableAllowanceForCreditLossesIndividuallyEvaluatedForImpairment1_E582FFF9D969DA14D1B4087759BEDD0C_label_en-US" xlink:label="lab_us-gaap_FinancingReceivableAllowanceForCreditLossesIndividuallyEvaluatedForImpairment1_E582FFF9D969DA14D1B4087759BEDD0C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_FinancingReceivableAllowanceForCreditLossesIndividuallyEvaluatedForImpairment1" xlink:label="loc_us-gaap_FinancingReceivableAllowanceForCreditLossesIndividuallyEvaluatedForImpairment1_E582FFF9D969DA14D1B4087759BEDD0C" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinancingReceivableAllowanceForCreditLossesIndividuallyEvaluatedForImpairment1_E582FFF9D969DA14D1B4087759BEDD0C" xlink:to="lab_us-gaap_FinancingReceivableAllowanceForCreditLossesIndividuallyEvaluatedForImpairment1_E582FFF9D969DA14D1B4087759BEDD0C" xlink:type="arc"/>

<link:label id="lab_us-gaap_FinancingReceivableAllowanceForCreditLossesCollectivelyEvaluatedForImpairment_01A7BD4654CAC0EB3358087759BE99FE_terseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableAllowanceForCreditLossesCollectivelyEvaluatedForImpairment_01A7BD4654CAC0EB3358087759BE99FE" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Loans collectively evaluated for impairment </link:label>

<link:label id="lab_us-gaap_FinancingReceivableAllowanceForCreditLossesCollectivelyEvaluatedForImpairment_01A7BD4654CAC0EB3358087759BE99FE_label_en-US" xlink:label="lab_us-gaap_FinancingReceivableAllowanceForCreditLossesCollectivelyEvaluatedForImpairment_01A7BD4654CAC0EB3358087759BE99FE" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_FinancingReceivableAllowanceForCreditLossesCollectivelyEvaluatedForImpairment" xlink:label="loc_us-gaap_FinancingReceivableAllowanceForCreditLossesCollectivelyEvaluatedForImpairment_01A7BD4654CAC0EB3358087759BE99FE" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinancingReceivableAllowanceForCreditLossesCollectivelyEvaluatedForImpairment_01A7BD4654CAC0EB3358087759BE99FE" xlink:to="lab_us-gaap_FinancingReceivableAllowanceForCreditLossesCollectivelyEvaluatedForImpairment_01A7BD4654CAC0EB3358087759BE99FE" xlink:type="arc"/>

<link:label id="lab_us-gaap_CertainLoansAcquiredInTransferNotAccountedForAsDebtSecuritiesAllowanceForLoanLosses_8A868C766D4F0A2EA137087759BE8E2E_periodEndLabel_en-US" xlink:label="lab_us-gaap_CertainLoansAcquiredInTransferNotAccountedForAsDebtSecuritiesAllowanceForLoanLosses_8A868C766D4F0A2EA137087759BE8E2E" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US"> Loans acquired with deteriorated credit quality </link:label>

<link:label id="lab_us-gaap_CertainLoansAcquiredInTransferNotAccountedForAsDebtSecuritiesAllowanceForLoanLosses_8A868C766D4F0A2EA137087759BE8E2E_label_en-US" xlink:label="lab_us-gaap_CertainLoansAcquiredInTransferNotAccountedForAsDebtSecuritiesAllowanceForLoanLosses_8A868C766D4F0A2EA137087759BE8E2E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Allowance for Loan Losses </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_CertainLoansAcquiredInTransferNotAccountedForAsDebtSecuritiesAllowanceForLoanLosses" xlink:label="loc_us-gaap_CertainLoansAcquiredInTransferNotAccountedForAsDebtSecuritiesAllowanceForLoanLosses_8A868C766D4F0A2EA137087759BE8E2E" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CertainLoansAcquiredInTransferNotAccountedForAsDebtSecuritiesAllowanceForLoanLosses_8A868C766D4F0A2EA137087759BE8E2E" xlink:to="lab_us-gaap_CertainLoansAcquiredInTransferNotAccountedForAsDebtSecuritiesAllowanceForLoanLosses_8A868C766D4F0A2EA137087759BE8E2E" xlink:type="arc"/>

<link:label id="lab_us-gaap_LoansAndLeasesReceivableAllowance_F7CE244C20E3681E1003087759BE0E7C_terseLabel_en-US" xlink:label="lab_us-gaap_LoansAndLeasesReceivableAllowance_F7CE244C20E3681E1003087759BE0E7C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Allowance for loan losses </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_LoansAndLeasesReceivableAllowance" xlink:label="loc_us-gaap_LoansAndLeasesReceivableAllowance_F7CE244C20E3681E1003087759BE0E7C" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LoansAndLeasesReceivableAllowance_F7CE244C20E3681E1003087759BE0E7C" xlink:to="lab_us-gaap_LoansAndLeasesReceivableAllowance_F7CE244C20E3681E1003087759BE0E7C" xlink:type="arc"/>

<link:label id="lab_cit_OtherReservesAdditionalCreditLossReservesForUnfundedLendingCommitmentsLettersOfCreditAndForDeferredPurchaseAgreements_DEE4060CF711703BCE45087759BEEB7B_terseLabel_en-US" xlink:label="lab_cit_OtherReservesAdditionalCreditLossReservesForUnfundedLendingCommitmentsLettersOfCreditAndForDeferredPurchaseAgreements_DEE4060CF711703BCE45087759BEEB7B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Other reserves </link:label>

<link:label id="lab_cit_OtherReservesAdditionalCreditLossReservesForUnfundedLendingCommitmentsLettersOfCreditAndForDeferredPurchaseAgreements_DEE4060CF711703BCE45087759BEEB7B_label_en-US" xlink:label="lab_cit_OtherReservesAdditionalCreditLossReservesForUnfundedLendingCommitmentsLettersOfCreditAndForDeferredPurchaseAgreements_DEE4060CF711703BCE45087759BEEB7B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Other Reserves Additional Credit Loss Reserves For Unfunded Lending Commitments, Letters Of Credit And For Deferred Purchase Agreements </link:label>

<link:label id="lab_cit_OtherReservesAdditionalCreditLossReservesForUnfundedLendingCommitmentsLettersOfCreditAndForDeferredPurchaseAgreements_DEE4060CF711703BCE45087759BEEB7B_documentation_en-US" xlink:label="lab_cit_OtherReservesAdditionalCreditLossReservesForUnfundedLendingCommitmentsLettersOfCreditAndForDeferredPurchaseAgreements_DEE4060CF711703BCE45087759BEEB7B" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Other reserves additional credit loss reserves for unfunded lending commitments, letters of credit and for deferred purchase agreements </link:label>

<link:loc xlink:href="cit-20180331.xsd#cit_OtherReservesAdditionalCreditLossReservesForUnfundedLendingCommitmentsLettersOfCreditAndForDeferredPurchaseAgreements" xlink:label="loc_cit_OtherReservesAdditionalCreditLossReservesForUnfundedLendingCommitmentsLettersOfCreditAndForDeferredPurchaseAgreements_DEE4060CF711703BCE45087759BEEB7B" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cit_OtherReservesAdditionalCreditLossReservesForUnfundedLendingCommitmentsLettersOfCreditAndForDeferredPurchaseAgreements_DEE4060CF711703BCE45087759BEEB7B" xlink:to="lab_cit_OtherReservesAdditionalCreditLossReservesForUnfundedLendingCommitmentsLettersOfCreditAndForDeferredPurchaseAgreements_DEE4060CF711703BCE45087759BEEB7B" xlink:type="arc"/>

<link:label id="lab_us-gaap_FinancingReceivableAdditionalDisclosuresAbstract_315C6A871DC49B029C46087759BE476A_terseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableAdditionalDisclosuresAbstract_315C6A871DC49B029C46087759BE476A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Loans </link:label>

<link:label id="lab_us-gaap_FinancingReceivableAdditionalDisclosuresAbstract_315C6A871DC49B029C46087759BE476A_label_en-US" xlink:label="lab_us-gaap_FinancingReceivableAdditionalDisclosuresAbstract_315C6A871DC49B029C46087759BE476A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Financing Receivable, Additional Disclosures [Abstract] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_FinancingReceivableAdditionalDisclosuresAbstract" xlink:label="loc_us-gaap_FinancingReceivableAdditionalDisclosuresAbstract_315C6A871DC49B029C46087759BE476A" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinancingReceivableAdditionalDisclosuresAbstract_315C6A871DC49B029C46087759BE476A" xlink:to="lab_us-gaap_FinancingReceivableAdditionalDisclosuresAbstract_315C6A871DC49B029C46087759BE476A" xlink:type="arc"/>

<link:label id="lab_us-gaap_FinancingReceivableIndividuallyEvaluatedForImpairment_EF68FFBAE91E4B841FC1087759BE547E_terseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableIndividuallyEvaluatedForImpairment_EF68FFBAE91E4B841FC1087759BE547E" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Loans individually evaluated for impairment </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_FinancingReceivableIndividuallyEvaluatedForImpairment" xlink:label="loc_us-gaap_FinancingReceivableIndividuallyEvaluatedForImpairment_EF68FFBAE91E4B841FC1087759BE547E" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinancingReceivableIndividuallyEvaluatedForImpairment_EF68FFBAE91E4B841FC1087759BE547E" xlink:to="lab_us-gaap_FinancingReceivableIndividuallyEvaluatedForImpairment_EF68FFBAE91E4B841FC1087759BE547E" xlink:type="arc"/>

<link:label id="lab_us-gaap_FinancingReceivableCollectivelyEvaluatedForImpairment_E677DF2E4BEE81C3FFBE087759BE858E_terseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableCollectivelyEvaluatedForImpairment_E677DF2E4BEE81C3FFBE087759BE858E" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Loans collectively evaluated for impairment </link:label>

<link:label id="lab_us-gaap_FinancingReceivableCollectivelyEvaluatedForImpairment_E677DF2E4BEE81C3FFBE087759BE858E_label_en-US" xlink:label="lab_us-gaap_FinancingReceivableCollectivelyEvaluatedForImpairment_E677DF2E4BEE81C3FFBE087759BE858E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Financing Receivable, Collectively Evaluated for Impairment </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_FinancingReceivableCollectivelyEvaluatedForImpairment" xlink:label="loc_us-gaap_FinancingReceivableCollectivelyEvaluatedForImpairment_E677DF2E4BEE81C3FFBE087759BE858E" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinancingReceivableCollectivelyEvaluatedForImpairment_E677DF2E4BEE81C3FFBE087759BE858E" xlink:to="lab_us-gaap_FinancingReceivableCollectivelyEvaluatedForImpairment_E677DF2E4BEE81C3FFBE087759BE858E" xlink:type="arc"/>

<link:label id="lab_us-gaap_NotesReceivableGross_83CC0A9697192ED4716A087759BE2ECB_verboseLabel_en-US" xlink:label="lab_us-gaap_NotesReceivableGross_83CC0A9697192ED4716A087759BE2ECB" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Loans acquired with deteriorated credit quality </link:label>

<link:label id="lab_us-gaap_NotesReceivableGross_83CC0A9697192ED4716A087759BE2ECB_label_en-US" xlink:label="lab_us-gaap_NotesReceivableGross_83CC0A9697192ED4716A087759BE2ECB" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Financing Receivable, Gross </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_NotesReceivableGross" xlink:label="loc_us-gaap_NotesReceivableGross_83CC0A9697192ED4716A087759BE2ECB" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NotesReceivableGross_83CC0A9697192ED4716A087759BE2ECB" xlink:to="lab_us-gaap_NotesReceivableGross_83CC0A9697192ED4716A087759BE2ECB" xlink:type="arc"/>

<link:label id="lab_us-gaap_LoansAndLeasesReceivableNetOfDeferredIncome_B698290664DA4E18A44D087759BEE403_periodEndLabel_en-US" xlink:label="lab_us-gaap_LoansAndLeasesReceivableNetOfDeferredIncome_B698290664DA4E18A44D087759BEE403" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US"> Ending balance </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_LoansAndLeasesReceivableNetOfDeferredIncome" xlink:label="loc_us-gaap_LoansAndLeasesReceivableNetOfDeferredIncome_B698290664DA4E18A44D087759BEE403" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LoansAndLeasesReceivableNetOfDeferredIncome_B698290664DA4E18A44D087759BEE403" xlink:to="lab_us-gaap_LoansAndLeasesReceivableNetOfDeferredIncome_B698290664DA4E18A44D087759BEE403" xlink:type="arc"/>

<link:label id="lab_cit_PercentageOfLoanTotal_215FEA7D192900FA8885087759BEA57D_terseLabel_en-US" xlink:label="lab_cit_PercentageOfLoanTotal_215FEA7D192900FA8885087759BEA57D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Percentage of loans to total loans </link:label>

<link:label id="lab_cit_PercentageOfLoanTotal_215FEA7D192900FA8885087759BEA57D_label_en-US" xlink:label="lab_cit_PercentageOfLoanTotal_215FEA7D192900FA8885087759BEA57D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Percentage of loan total </link:label>

<link:label id="lab_cit_PercentageOfLoanTotal_215FEA7D192900FA8885087759BEA57D_documentation_en-US" xlink:label="lab_cit_PercentageOfLoanTotal_215FEA7D192900FA8885087759BEA57D" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Percentage of loan total </link:label>

<link:loc xlink:href="cit-20180331.xsd#cit_PercentageOfLoanTotal" xlink:label="loc_cit_PercentageOfLoanTotal_215FEA7D192900FA8885087759BEA57D" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cit_PercentageOfLoanTotal_215FEA7D192900FA8885087759BEA57D" xlink:to="lab_cit_PercentageOfLoanTotal_215FEA7D192900FA8885087759BEA57D" xlink:type="arc"/>

<link:label id="lab_cit_AllowanceForLoanAndLeaseLossWriteOffsChargedDirectlyIntoSpecificAllowance_6A3C25E62B08F121D7F1087759BED405_terseLabel_en-US" xlink:label="lab_cit_AllowanceForLoanAndLeaseLossWriteOffsChargedDirectlyIntoSpecificAllowance_6A3C25E62B08F121D7F1087759BED405" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Gross charge-offs charged directly into allowance for loan losses </link:label>

<link:label id="lab_cit_AllowanceForLoanAndLeaseLossWriteOffsChargedDirectlyIntoSpecificAllowance_6A3C25E62B08F121D7F1087759BED405_label_en-US" xlink:label="lab_cit_AllowanceForLoanAndLeaseLossWriteOffsChargedDirectlyIntoSpecificAllowance_6A3C25E62B08F121D7F1087759BED405" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Allowance For Loan And Lease Loss Write Offs Charged Directly Into Specific Allowance </link:label>

<link:label id="lab_cit_AllowanceForLoanAndLeaseLossWriteOffsChargedDirectlyIntoSpecificAllowance_6A3C25E62B08F121D7F1087759BED405_documentation_en-US" xlink:label="lab_cit_AllowanceForLoanAndLeaseLossWriteOffsChargedDirectlyIntoSpecificAllowance_6A3C25E62B08F121D7F1087759BED405" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Allowance For Loan And Lease Loss Write Offs Charged Directly Into Specific Allowance </link:label>

<link:loc xlink:href="cit-20180331.xsd#cit_AllowanceForLoanAndLeaseLossWriteOffsChargedDirectlyIntoSpecificAllowance" xlink:label="loc_cit_AllowanceForLoanAndLeaseLossWriteOffsChargedDirectlyIntoSpecificAllowance_6A3C25E62B08F121D7F1087759BED405" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cit_AllowanceForLoanAndLeaseLossWriteOffsChargedDirectlyIntoSpecificAllowance_6A3C25E62B08F121D7F1087759BED405" xlink:to="lab_cit_AllowanceForLoanAndLeaseLossWriteOffsChargedDirectlyIntoSpecificAllowance_6A3C25E62B08F121D7F1087759BED405" xlink:type="arc"/>

<link:label id="lab_cit_DisposalGroupIncludingDiscontinuedOperationOperatingLeaseEquipment_597290B3BB1095EA9D8E23D83BED0579_terseLabel_en-US" xlink:label="lab_cit_DisposalGroupIncludingDiscontinuedOperationOperatingLeaseEquipment_597290B3BB1095EA9D8E23D83BED0579" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Operating lease equipment, net </link:label>

<link:loc xlink:href="cit-20180331.xsd#cit_DisposalGroupIncludingDiscontinuedOperationOperatingLeaseEquipment" xlink:label="loc_cit_DisposalGroupIncludingDiscontinuedOperationOperatingLeaseEquipment_597290B3BB1095EA9D8E23D83BED0579" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cit_DisposalGroupIncludingDiscontinuedOperationOperatingLeaseEquipment_597290B3BB1095EA9D8E23D83BED0579" xlink:to="lab_cit_DisposalGroupIncludingDiscontinuedOperationOperatingLeaseEquipment_597290B3BB1095EA9D8E23D83BED0579" xlink:type="arc"/>

<link:label id="lab_us-gaap_ChangeDuringPeriodFairValueDisclosureMember_B418AB1A07D328BB064B16EC268531C8_terseLabel_en-US" xlink:label="lab_us-gaap_ChangeDuringPeriodFairValueDisclosureMember_B418AB1A07D328BB064B16EC268531C8" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Total (Losses) </link:label>

<link:label id="lab_us-gaap_ChangeDuringPeriodFairValueDisclosureMember_B418AB1A07D328BB064B16EC268531C8_label_en-US" xlink:label="lab_us-gaap_ChangeDuringPeriodFairValueDisclosureMember_B418AB1A07D328BB064B16EC268531C8" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Changes Measurement [Member] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ChangeDuringPeriodFairValueDisclosureMember" xlink:label="loc_us-gaap_ChangeDuringPeriodFairValueDisclosureMember_B418AB1A07D328BB064B16EC268531C8" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ChangeDuringPeriodFairValueDisclosureMember_B418AB1A07D328BB064B16EC268531C8" xlink:to="lab_us-gaap_ChangeDuringPeriodFairValueDisclosureMember_B418AB1A07D328BB064B16EC268531C8" xlink:type="arc"/>

<link:label id="lab_us-gaap_FairValueMeasurementsNonrecurringMember_5189A14DE2B03C40090F16EC2685E632_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueMeasurementsNonrecurringMember_5189A14DE2B03C40090F16EC2685E632" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Non-Recurring </link:label>

<link:label id="lab_us-gaap_FairValueMeasurementsNonrecurringMember_5189A14DE2B03C40090F16EC2685E632_label_en-US" xlink:label="lab_us-gaap_FairValueMeasurementsNonrecurringMember_5189A14DE2B03C40090F16EC2685E632" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Fair Value, Measurements, Nonrecurring [Member] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_FairValueMeasurementsNonrecurringMember" xlink:label="loc_us-gaap_FairValueMeasurementsNonrecurringMember_5189A14DE2B03C40090F16EC2685E632" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueMeasurementsNonrecurringMember_5189A14DE2B03C40090F16EC2685E632" xlink:to="lab_us-gaap_FairValueMeasurementsNonrecurringMember_5189A14DE2B03C40090F16EC2685E632" xlink:type="arc"/>

<link:label id="lab_us-gaap_AssetsHeldForSaleLongLivedFairValueDisclosure_A2F47394328D8368807716EC2686D983_verboseLabel_en-US" xlink:label="lab_us-gaap_AssetsHeldForSaleLongLivedFairValueDisclosure_A2F47394328D8368807716EC2686D983" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Assets held for sale </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_AssetsHeldForSaleLongLivedFairValueDisclosure" xlink:label="loc_us-gaap_AssetsHeldForSaleLongLivedFairValueDisclosure_A2F47394328D8368807716EC2686D983" xlink:type="locator"/>

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<link:label id="lab_cit_OtherRealEstateOwnedFairValueDisclosure_7C5A4D6FE75B714AF1A116EC2686C58E_verboseLabel_en-US" xlink:label="lab_cit_OtherRealEstateOwnedFairValueDisclosure_7C5A4D6FE75B714AF1A116EC2686C58E" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Other real estate owned </link:label>

<link:label id="lab_cit_OtherRealEstateOwnedFairValueDisclosure_7C5A4D6FE75B714AF1A116EC2686C58E_label_en-US" xlink:label="lab_cit_OtherRealEstateOwnedFairValueDisclosure_7C5A4D6FE75B714AF1A116EC2686C58E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Other Real Estate Owned Fair Value Disclosure </link:label>

<link:label id="lab_cit_OtherRealEstateOwnedFairValueDisclosure_7C5A4D6FE75B714AF1A116EC2686C58E_documentation_en-US" xlink:label="lab_cit_OtherRealEstateOwnedFairValueDisclosure_7C5A4D6FE75B714AF1A116EC2686C58E" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Other Real Estate Owned Fair Value Disclosure </link:label>

<link:loc xlink:href="cit-20180331.xsd#cit_OtherRealEstateOwnedFairValueDisclosure" xlink:label="loc_cit_OtherRealEstateOwnedFairValueDisclosure_7C5A4D6FE75B714AF1A116EC2686C58E" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cit_OtherRealEstateOwnedFairValueDisclosure_7C5A4D6FE75B714AF1A116EC2686C58E" xlink:to="lab_cit_OtherRealEstateOwnedFairValueDisclosure_7C5A4D6FE75B714AF1A116EC2686C58E" xlink:type="arc"/>

<link:label id="lab_cit_ImpairedLoansFairValueDisclosure_05B12B7C0550F85EB1EA16EC2686BF47_terseLabel_en-US" xlink:label="lab_cit_ImpairedLoansFairValueDisclosure_05B12B7C0550F85EB1EA16EC2686BF47" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Impaired loans </link:label>

<link:label id="lab_cit_ImpairedLoansFairValueDisclosure_05B12B7C0550F85EB1EA16EC2686BF47_label_en-US" xlink:label="lab_cit_ImpairedLoansFairValueDisclosure_05B12B7C0550F85EB1EA16EC2686BF47" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Impaired Loans Fair Value Disclosure </link:label>

<link:label id="lab_cit_ImpairedLoansFairValueDisclosure_05B12B7C0550F85EB1EA16EC2686BF47_documentation_en-US" xlink:label="lab_cit_ImpairedLoansFairValueDisclosure_05B12B7C0550F85EB1EA16EC2686BF47" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Impaired Loans Fair Value Disclosure </link:label>

<link:loc xlink:href="cit-20180331.xsd#cit_ImpairedLoansFairValueDisclosure" xlink:label="loc_cit_ImpairedLoansFairValueDisclosure_05B12B7C0550F85EB1EA16EC2686BF47" xlink:type="locator"/>

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<link:label id="lab_us-gaap_AssetsFairValueDisclosureNonrecurring_A60BB847A844E2E6F17B16EC268637D4_totalLabel_en-US" xlink:label="lab_us-gaap_AssetsFairValueDisclosureNonrecurring_A60BB847A844E2E6F17B16EC268637D4" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US"> Total </link:label>

<link:label id="lab_us-gaap_AssetsFairValueDisclosureNonrecurring_A60BB847A844E2E6F17B16EC268637D4_label_en-US" xlink:label="lab_us-gaap_AssetsFairValueDisclosureNonrecurring_A60BB847A844E2E6F17B16EC268637D4" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Assets, Fair Value Disclosure, Nonrecurring </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_AssetsFairValueDisclosureNonrecurring" xlink:label="loc_us-gaap_AssetsFairValueDisclosureNonrecurring_A60BB847A844E2E6F17B16EC268637D4" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AssetsFairValueDisclosureNonrecurring_A60BB847A844E2E6F17B16EC268637D4" xlink:to="lab_us-gaap_AssetsFairValueDisclosureNonrecurring_A60BB847A844E2E6F17B16EC268637D4" xlink:type="arc"/>

<link:label id="lab_us-gaap_FinancingReceivableAllowanceForCreditLossesWriteOffs_9D00A28A97E09A9962831703837860AF_terseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableAllowanceForCreditLossesWriteOffs_9D00A28A97E09A9962831703837860AF" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Charge-off of impaired loan </link:label>

<link:label id="lab_us-gaap_FinancingReceivableAllowanceForCreditLossesWriteOffs_9D00A28A97E09A9962831703837860AF_label_en-US" xlink:label="lab_us-gaap_FinancingReceivableAllowanceForCreditLossesWriteOffs_9D00A28A97E09A9962831703837860AF" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Financing Receivable, Allowance for Credit Losses, Write-downs </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_FinancingReceivableAllowanceForCreditLossesWriteOffs" xlink:label="loc_us-gaap_FinancingReceivableAllowanceForCreditLossesWriteOffs_9D00A28A97E09A9962831703837860AF" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinancingReceivableAllowanceForCreditLossesWriteOffs_9D00A28A97E09A9962831703837860AF" xlink:to="lab_us-gaap_FinancingReceivableAllowanceForCreditLossesWriteOffs_9D00A28A97E09A9962831703837860AF" xlink:type="arc"/>

<link:label id="lab_us-gaap_ScheduleOfFinancingReceivablesPastDueTable_22154AF2A6C22BFB894D21FAC228631F_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfFinancingReceivablesPastDueTable_22154AF2A6C22BFB894D21FAC228631F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Schedule of Financing Receivables Past Due [Table] </link:label>

<link:label id="lab_us-gaap_ScheduleOfFinancingReceivablesPastDueTable_22154AF2A6C22BFB894D21FAC228631F_label_en-US" xlink:label="lab_us-gaap_ScheduleOfFinancingReceivablesPastDueTable_22154AF2A6C22BFB894D21FAC228631F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Schedule of Financing Receivables Past Due [Table] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ScheduleOfFinancingReceivablesPastDueTable" xlink:label="loc_us-gaap_ScheduleOfFinancingReceivablesPastDueTable_22154AF2A6C22BFB894D21FAC228631F" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfFinancingReceivablesPastDueTable_22154AF2A6C22BFB894D21FAC228631F" xlink:to="lab_us-gaap_ScheduleOfFinancingReceivablesPastDueTable_22154AF2A6C22BFB894D21FAC228631F" xlink:type="arc"/>

<link:label id="lab_cit_RailMember_E61F933E229AABC1B40E21FAC228D649_terseLabel_en-US" xlink:label="lab_cit_RailMember_E61F933E229AABC1B40E21FAC228D649" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Rail </link:label>

<link:label id="lab_cit_RailMember_E61F933E229AABC1B40E21FAC228D649_label_en-US" xlink:label="lab_cit_RailMember_E61F933E229AABC1B40E21FAC228D649" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Rail [Member] </link:label>

<link:label id="lab_cit_RailMember_E61F933E229AABC1B40E21FAC228D649_documentation_en-US" xlink:label="lab_cit_RailMember_E61F933E229AABC1B40E21FAC228D649" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Rail [Member] </link:label>

<link:loc xlink:href="cit-20180331.xsd#cit_RailMember" xlink:label="loc_cit_RailMember_E61F933E229AABC1B40E21FAC228D649" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cit_RailMember_E61F933E229AABC1B40E21FAC228D649" xlink:to="lab_cit_RailMember_E61F933E229AABC1B40E21FAC228D649" xlink:type="arc"/>

<link:label id="lab_cit_LegacyConsumerMortgagesMember_3806EAE08707C5B8B24721FAC2282874_terseLabel_en-US" xlink:label="lab_cit_LegacyConsumerMortgagesMember_3806EAE08707C5B8B24721FAC2282874" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Legacy Consumer Mortgages </link:label>

<link:label id="lab_cit_LegacyConsumerMortgagesMember_3806EAE08707C5B8B24721FAC2282874_label_en-US" xlink:label="lab_cit_LegacyConsumerMortgagesMember_3806EAE08707C5B8B24721FAC2282874" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Legacy Consumer Mortgages [Member] </link:label>

<link:label id="lab_cit_LegacyConsumerMortgagesMember_3806EAE08707C5B8B24721FAC2282874_documentation_en-US" xlink:label="lab_cit_LegacyConsumerMortgagesMember_3806EAE08707C5B8B24721FAC2282874" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Legacy Consumer Mortgages [Member] </link:label>

<link:loc xlink:href="cit-20180331.xsd#cit_LegacyConsumerMortgagesMember" xlink:label="loc_cit_LegacyConsumerMortgagesMember_3806EAE08707C5B8B24721FAC2282874" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cit_LegacyConsumerMortgagesMember_3806EAE08707C5B8B24721FAC2282874" xlink:to="lab_cit_LegacyConsumerMortgagesMember_3806EAE08707C5B8B24721FAC2282874" xlink:type="arc"/>

<link:label id="lab_cit_ConsumerBankingMember_3A2B4021D2A3BA7D079D21FAC2289265_terseLabel_en-US" xlink:label="lab_cit_ConsumerBankingMember_3A2B4021D2A3BA7D079D21FAC2289265" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Other Consumer Banking </link:label>

<link:label id="lab_cit_ConsumerBankingMember_3A2B4021D2A3BA7D079D21FAC2289265_label_en-US" xlink:label="lab_cit_ConsumerBankingMember_3A2B4021D2A3BA7D079D21FAC2289265" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Consumer Banking [Member] </link:label>

<link:label id="lab_cit_ConsumerBankingMember_3A2B4021D2A3BA7D079D21FAC2289265_documentation_en-US" xlink:label="lab_cit_ConsumerBankingMember_3A2B4021D2A3BA7D079D21FAC2289265" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Consumer Banking [Member] </link:label>

<link:loc xlink:href="cit-20180331.xsd#cit_ConsumerBankingMember" xlink:label="loc_cit_ConsumerBankingMember_3A2B4021D2A3BA7D079D21FAC2289265" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cit_ConsumerBankingMember_3A2B4021D2A3BA7D079D21FAC2289265" xlink:to="lab_cit_ConsumerBankingMember_3A2B4021D2A3BA7D079D21FAC2289265" xlink:type="arc"/>

<link:label id="lab_us-gaap_CoreAndNonCoreStatusAxis_E355BCAE1E0CDEFDF3E821FAC229077A_terseLabel_en-US" xlink:label="lab_us-gaap_CoreAndNonCoreStatusAxis_E355BCAE1E0CDEFDF3E821FAC229077A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Core and Non-core Status [Axis] </link:label>

<link:label id="lab_us-gaap_CoreAndNonCoreStatusAxis_E355BCAE1E0CDEFDF3E821FAC229077A_label_en-US" xlink:label="lab_us-gaap_CoreAndNonCoreStatusAxis_E355BCAE1E0CDEFDF3E821FAC229077A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Core and Non-core Status [Axis] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_CoreAndNonCoreStatusAxis" xlink:label="loc_us-gaap_CoreAndNonCoreStatusAxis_E355BCAE1E0CDEFDF3E821FAC229077A" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CoreAndNonCoreStatusAxis_E355BCAE1E0CDEFDF3E821FAC229077A" xlink:to="lab_us-gaap_CoreAndNonCoreStatusAxis_E355BCAE1E0CDEFDF3E821FAC229077A" xlink:type="arc"/>

<link:label id="lab_us-gaap_CoreAndNonCoreStatusDomain_D2C9691B23473412199D21FAC2291BD8_terseLabel_en-US" xlink:label="lab_us-gaap_CoreAndNonCoreStatusDomain_D2C9691B23473412199D21FAC2291BD8" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Core and Non-core Status [Domain] </link:label>

<link:label id="lab_us-gaap_CoreAndNonCoreStatusDomain_D2C9691B23473412199D21FAC2291BD8_label_en-US" xlink:label="lab_us-gaap_CoreAndNonCoreStatusDomain_D2C9691B23473412199D21FAC2291BD8" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Core and Non-core Status [Domain] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_CoreAndNonCoreStatusDomain" xlink:label="loc_us-gaap_CoreAndNonCoreStatusDomain_D2C9691B23473412199D21FAC2291BD8" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CoreAndNonCoreStatusDomain_D2C9691B23473412199D21FAC2291BD8" xlink:to="lab_us-gaap_CoreAndNonCoreStatusDomain_D2C9691B23473412199D21FAC2291BD8" xlink:type="arc"/>

<link:label id="lab_us-gaap_NonCoreMember_1DE8900B5BF9DA8456A321FAC2298515_terseLabel_en-US" xlink:label="lab_us-gaap_NonCoreMember_1DE8900B5BF9DA8456A321FAC2298515" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Non- Strategic Portfolios </link:label>

<link:label id="lab_us-gaap_NonCoreMember_1DE8900B5BF9DA8456A321FAC2298515_label_en-US" xlink:label="lab_us-gaap_NonCoreMember_1DE8900B5BF9DA8456A321FAC2298515" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Non-core [Member] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_NonCoreMember" xlink:label="loc_us-gaap_NonCoreMember_1DE8900B5BF9DA8456A321FAC2298515" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NonCoreMember_1DE8900B5BF9DA8456A321FAC2298515" xlink:to="lab_us-gaap_NonCoreMember_1DE8900B5BF9DA8456A321FAC2298515" xlink:type="arc"/>

<link:label id="lab_us-gaap_FinancingReceivablesPeriodPastDueAxis_AAB7234460F3FE80182421FAC229831A_terseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivablesPeriodPastDueAxis_AAB7234460F3FE80182421FAC229831A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Financing Receivables, Period Past Due [Axis] </link:label>

<link:label id="lab_us-gaap_FinancingReceivablesPeriodPastDueAxis_AAB7234460F3FE80182421FAC229831A_label_en-US" xlink:label="lab_us-gaap_FinancingReceivablesPeriodPastDueAxis_AAB7234460F3FE80182421FAC229831A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Financing Receivables, Period Past Due [Axis] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_FinancingReceivablesPeriodPastDueAxis" xlink:label="loc_us-gaap_FinancingReceivablesPeriodPastDueAxis_AAB7234460F3FE80182421FAC229831A" xlink:type="locator"/>

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<link:label id="lab_us-gaap_FinancingReceivablesPeriodPastDueDomain_0792DC3AA47421CE05D921FAC2297453_terseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivablesPeriodPastDueDomain_0792DC3AA47421CE05D921FAC2297453" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Financing Receivables, Period Past Due [Domain] </link:label>

<link:label id="lab_us-gaap_FinancingReceivablesPeriodPastDueDomain_0792DC3AA47421CE05D921FAC2297453_label_en-US" xlink:label="lab_us-gaap_FinancingReceivablesPeriodPastDueDomain_0792DC3AA47421CE05D921FAC2297453" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Financing Receivables, Period Past Due [Domain] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_FinancingReceivablesPeriodPastDueDomain" xlink:label="loc_us-gaap_FinancingReceivablesPeriodPastDueDomain_0792DC3AA47421CE05D921FAC2297453" xlink:type="locator"/>

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<link:label id="lab_us-gaap_FinancingReceivables30To59DaysPastDueMember_D31F58BE3C6AA14800FB21FAC2294643_terseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivables30To59DaysPastDueMember_D31F58BE3C6AA14800FB21FAC2294643" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> 30–59 Days Past Due </link:label>

<link:label id="lab_us-gaap_FinancingReceivables30To59DaysPastDueMember_D31F58BE3C6AA14800FB21FAC2294643_label_en-US" xlink:label="lab_us-gaap_FinancingReceivables30To59DaysPastDueMember_D31F58BE3C6AA14800FB21FAC2294643" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Financing Receivables, 30 to 59 Days Past Due [Member] </link:label>

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<link:label id="lab_us-gaap_FinancingReceivables60To89DaysPastDueMember_01E33CA1DD505CA6D77E21FAC22932A2_terseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivables60To89DaysPastDueMember_01E33CA1DD505CA6D77E21FAC22932A2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> 60–89 Days Past Due </link:label>

<link:label id="lab_us-gaap_FinancingReceivables60To89DaysPastDueMember_01E33CA1DD505CA6D77E21FAC22932A2_label_en-US" xlink:label="lab_us-gaap_FinancingReceivables60To89DaysPastDueMember_01E33CA1DD505CA6D77E21FAC22932A2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Financing Receivables, 60 to 89 Days Past Due [Member] </link:label>

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<link:label id="lab_us-gaap_FinancingReceivablesEqualToGreaterThan90DaysPastDueMember_435F3F178DCA0D24083421FAC229CF5D_terseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivablesEqualToGreaterThan90DaysPastDueMember_435F3F178DCA0D24083421FAC229CF5D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> 90 Days or Greater </link:label>

<link:label id="lab_us-gaap_FinancingReceivablesEqualToGreaterThan90DaysPastDueMember_435F3F178DCA0D24083421FAC229CF5D_label_en-US" xlink:label="lab_us-gaap_FinancingReceivablesEqualToGreaterThan90DaysPastDueMember_435F3F178DCA0D24083421FAC229CF5D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Financing Receivables, Equal to Greater than 90 Days Past Due [Member] </link:label>

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<link:label id="lab_cit_ErrorRelatedtoClassificationofCurrentBalanceofConsumerBankingPastDueFinanceandHeldforSaleLoansMember_6AF25FE87C65044B11EC21FAC229C4DC_terseLabel_en-US" xlink:label="lab_cit_ErrorRelatedtoClassificationofCurrentBalanceofConsumerBankingPastDueFinanceandHeldforSaleLoansMember_6AF25FE87C65044B11EC21FAC229C4DC" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Error Related to Classification of Current Balance of Consumer Banking Past Due Finance and Held for Sale Loans </link:label>

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<link:label id="lab_us-gaap_FinancingReceivableRecordedInvestmentPastDueLineItems_9E5030925EAF4BBF225021FAC22955C2_terseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableRecordedInvestmentPastDueLineItems_9E5030925EAF4BBF225021FAC22955C2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Financing Receivable, Recorded Investment, Past Due [Line Items] </link:label>

<link:label id="lab_us-gaap_FinancingReceivableRecordedInvestmentPastDueLineItems_9E5030925EAF4BBF225021FAC22955C2_label_en-US" xlink:label="lab_us-gaap_FinancingReceivableRecordedInvestmentPastDueLineItems_9E5030925EAF4BBF225021FAC22955C2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Financing Receivable, Recorded Investment, Past Due [Line Items] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_FinancingReceivableRecordedInvestmentPastDueLineItems" xlink:label="loc_us-gaap_FinancingReceivableRecordedInvestmentPastDueLineItems_9E5030925EAF4BBF225021FAC22955C2" xlink:type="locator"/>

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<link:label id="lab_us-gaap_FinancingReceivableRecordedInvestmentPastDue_08C8832924309ED64DA421FAC2291A61_terseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableRecordedInvestmentPastDue_08C8832924309ED64DA421FAC2291A61" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Total Past Due </link:label>

<link:label id="lab_us-gaap_FinancingReceivableRecordedInvestmentPastDue_08C8832924309ED64DA421FAC2291A61_label_en-US" xlink:label="lab_us-gaap_FinancingReceivableRecordedInvestmentPastDue_08C8832924309ED64DA421FAC2291A61" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Financing Receivable, Recorded Investment, Past Due </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_FinancingReceivableRecordedInvestmentPastDue" xlink:label="loc_us-gaap_FinancingReceivableRecordedInvestmentPastDue_08C8832924309ED64DA421FAC2291A61" xlink:type="locator"/>

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<link:label id="lab_us-gaap_FinancingReceivableRecordedInvestmentCurrent_4F4264649DACE16B8AB121FAC22970FE_terseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableRecordedInvestmentCurrent_4F4264649DACE16B8AB121FAC22970FE" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Current </link:label>

<link:label id="lab_us-gaap_FinancingReceivableRecordedInvestmentCurrent_4F4264649DACE16B8AB121FAC22970FE_label_en-US" xlink:label="lab_us-gaap_FinancingReceivableRecordedInvestmentCurrent_4F4264649DACE16B8AB121FAC22970FE" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Financing Receivable, Recorded Investment, Current </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_FinancingReceivableRecordedInvestmentCurrent" xlink:label="loc_us-gaap_FinancingReceivableRecordedInvestmentCurrent_4F4264649DACE16B8AB121FAC22970FE" xlink:type="locator"/>

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<link:label id="lab_cit_LoansReceivableIncludingHeldForSaleGross_F49409CCF8A499AE7A6221FAC22A2FAB_terseLabel_en-US" xlink:label="lab_cit_LoansReceivableIncludingHeldForSaleGross_F49409CCF8A499AE7A6221FAC22A2FAB" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Total </link:label>

<link:loc xlink:href="cit-20180331.xsd#cit_LoansReceivableIncludingHeldForSaleGross" xlink:label="loc_cit_LoansReceivableIncludingHeldForSaleGross_F49409CCF8A499AE7A6221FAC22A2FAB" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cit_LoansReceivableIncludingHeldForSaleGross_F49409CCF8A499AE7A6221FAC22A2FAB" xlink:to="lab_cit_LoansReceivableIncludingHeldForSaleGross_F49409CCF8A499AE7A6221FAC22A2FAB" xlink:type="arc"/>

<link:label id="lab_cit_ScheduleOfAvailableForSaleAndHeldToMaturitySecuritiesTable_88A6A89D00DE03C4BC3C23D1A596E495_terseLabel_en-US" xlink:label="lab_cit_ScheduleOfAvailableForSaleAndHeldToMaturitySecuritiesTable_88A6A89D00DE03C4BC3C23D1A596E495" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Schedule Of Available For Sale And Held To Maturity Securities [Table] </link:label>

<link:label id="lab_cit_ScheduleOfAvailableForSaleAndHeldToMaturitySecuritiesTable_88A6A89D00DE03C4BC3C23D1A596E495_label_en-US" xlink:label="lab_cit_ScheduleOfAvailableForSaleAndHeldToMaturitySecuritiesTable_88A6A89D00DE03C4BC3C23D1A596E495" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Schedule Of Available For Sale And Held To Maturity Securities [Table] </link:label>

<link:label id="lab_cit_ScheduleOfAvailableForSaleAndHeldToMaturitySecuritiesTable_88A6A89D00DE03C4BC3C23D1A596E495_documentation_en-US" xlink:label="lab_cit_ScheduleOfAvailableForSaleAndHeldToMaturitySecuritiesTable_88A6A89D00DE03C4BC3C23D1A596E495" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Schedule Of Available For Sale And Held To Maturity Securities [Table] </link:label>

<link:loc xlink:href="cit-20180331.xsd#cit_ScheduleOfAvailableForSaleAndHeldToMaturitySecuritiesTable" xlink:label="loc_cit_ScheduleOfAvailableForSaleAndHeldToMaturitySecuritiesTable_88A6A89D00DE03C4BC3C23D1A596E495" xlink:type="locator"/>

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<link:label id="lab_cit_NonMarketableEquityInvestmentsMember_12623E24869309E6C45923D1A598B536_terseLabel_en-US" xlink:label="lab_cit_NonMarketableEquityInvestmentsMember_12623E24869309E6C45923D1A598B536" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Non-marketable Investments </link:label>

<link:label id="lab_cit_NonMarketableEquityInvestmentsMember_12623E24869309E6C45923D1A598B536_label_en-US" xlink:label="lab_cit_NonMarketableEquityInvestmentsMember_12623E24869309E6C45923D1A598B536" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Non Marketable Equity Investments [Member] </link:label>

<link:label id="lab_cit_NonMarketableEquityInvestmentsMember_12623E24869309E6C45923D1A598B536_documentation_en-US" xlink:label="lab_cit_NonMarketableEquityInvestmentsMember_12623E24869309E6C45923D1A598B536" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Non-marketable Equity Investments [Member] </link:label>

<link:loc xlink:href="cit-20180331.xsd#cit_NonMarketableEquityInvestmentsMember" xlink:label="loc_cit_NonMarketableEquityInvestmentsMember_12623E24869309E6C45923D1A598B536" xlink:type="locator"/>

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<link:label id="lab_cit_RestrictedStockofFederalReserveBankandFederalHomeLoanBankMember_494BC28217F7BA91EEA523D1A598E4F2_terseLabel_en-US" xlink:label="lab_cit_RestrictedStockofFederalReserveBankandFederalHomeLoanBankMember_494BC28217F7BA91EEA523D1A598E4F2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Restricted Stock of FRB and FHLB </link:label>

<link:label id="lab_cit_RestrictedStockofFederalReserveBankandFederalHomeLoanBankMember_494BC28217F7BA91EEA523D1A598E4F2_label_en-US" xlink:label="lab_cit_RestrictedStockofFederalReserveBankandFederalHomeLoanBankMember_494BC28217F7BA91EEA523D1A598E4F2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Restricted Stock of Federal Reserve Bank and Federal Home Loan Bank [Member] </link:label>

<link:label id="lab_cit_RestrictedStockofFederalReserveBankandFederalHomeLoanBankMember_494BC28217F7BA91EEA523D1A598E4F2_documentation_en-US" xlink:label="lab_cit_RestrictedStockofFederalReserveBankandFederalHomeLoanBankMember_494BC28217F7BA91EEA523D1A598E4F2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Restricted Stock of Federal Reserve Bank and Federal Home Loan Bank [Member] </link:label>

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<link:label id="lab_cit_NonMarketableEquityInvestmentsExcludingRestrictedStockofFederalReserveBankandFederalHomeLoanBankMember_85F00F1E544E9798B37D23D1A5981FA6_terseLabel_en-US" xlink:label="lab_cit_NonMarketableEquityInvestmentsExcludingRestrictedStockofFederalReserveBankandFederalHomeLoanBankMember_85F00F1E544E9798B37D23D1A5981FA6" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Remaining Non-Marketable Equity Investments </link:label>

<link:label id="lab_cit_NonMarketableEquityInvestmentsExcludingRestrictedStockofFederalReserveBankandFederalHomeLoanBankMember_85F00F1E544E9798B37D23D1A5981FA6_label_en-US" xlink:label="lab_cit_NonMarketableEquityInvestmentsExcludingRestrictedStockofFederalReserveBankandFederalHomeLoanBankMember_85F00F1E544E9798B37D23D1A5981FA6" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Non-Marketable Equity Investments, Excluding Restricted Stock of Federal Reserve Bank and Federal Home Loan Bank [Member] </link:label>

<link:label id="lab_cit_NonMarketableEquityInvestmentsExcludingRestrictedStockofFederalReserveBankandFederalHomeLoanBankMember_85F00F1E544E9798B37D23D1A5981FA6_documentation_en-US" xlink:label="lab_cit_NonMarketableEquityInvestmentsExcludingRestrictedStockofFederalReserveBankandFederalHomeLoanBankMember_85F00F1E544E9798B37D23D1A5981FA6" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Non-Marketable Equity Investments, Excluding Restricted Stock of Federal Reserve Bank and Federal Home Loan Bank [Member] </link:label>

<link:loc xlink:href="cit-20180331.xsd#cit_NonMarketableEquityInvestmentsExcludingRestrictedStockofFederalReserveBankandFederalHomeLoanBankMember" xlink:label="loc_cit_NonMarketableEquityInvestmentsExcludingRestrictedStockofFederalReserveBankandFederalHomeLoanBankMember_85F00F1E544E9798B37D23D1A5981FA6" xlink:type="locator"/>

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<link:label id="lab_us-gaap_EquityMethodInvestmentsMember_5BC739975B56068D49B323D1A59837D9_terseLabel_en-US" xlink:label="lab_us-gaap_EquityMethodInvestmentsMember_5BC739975B56068D49B323D1A59837D9" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Equity Method Investments </link:label>

<link:label id="lab_us-gaap_EquityMethodInvestmentsMember_5BC739975B56068D49B323D1A59837D9_label_en-US" xlink:label="lab_us-gaap_EquityMethodInvestmentsMember_5BC739975B56068D49B323D1A59837D9" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Equity Method Investments [Member] </link:label>

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<link:label id="lab_cit_AlternativeInvestmentMember_35C69118531AF216176B23D1A598A41C_terseLabel_en-US" xlink:label="lab_cit_AlternativeInvestmentMember_35C69118531AF216176B23D1A598A41C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Other Equity Investments Measured Under the Measurement Exception </link:label>

<link:label id="lab_cit_AlternativeInvestmentMember_35C69118531AF216176B23D1A598A41C_label_en-US" xlink:label="lab_cit_AlternativeInvestmentMember_35C69118531AF216176B23D1A598A41C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Alternative Investment [Member] </link:label>

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<link:loc xlink:href="cit-20180331.xsd#cit_AlternativeInvestmentMember" xlink:label="loc_cit_AlternativeInvestmentMember_35C69118531AF216176B23D1A598A41C" xlink:type="locator"/>

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<link:label id="lab_cit_ScheduleOfAvailableForSaleAndHeldToMaturitySecuritiesLineItems_5AC7F3576B8DBEDF36BA23D1A59810B6_terseLabel_en-US" xlink:label="lab_cit_ScheduleOfAvailableForSaleAndHeldToMaturitySecuritiesLineItems_5AC7F3576B8DBEDF36BA23D1A59810B6" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Schedule Of Available For Sale And Held To Maturity Securities [Line Items] </link:label>

<link:label id="lab_cit_ScheduleOfAvailableForSaleAndHeldToMaturitySecuritiesLineItems_5AC7F3576B8DBEDF36BA23D1A59810B6_label_en-US" xlink:label="lab_cit_ScheduleOfAvailableForSaleAndHeldToMaturitySecuritiesLineItems_5AC7F3576B8DBEDF36BA23D1A59810B6" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Schedule Of Available For Sale And Held To Maturity Securities [Line Items] </link:label>

<link:label id="lab_cit_ScheduleOfAvailableForSaleAndHeldToMaturitySecuritiesLineItems_5AC7F3576B8DBEDF36BA23D1A59810B6_documentation_en-US" xlink:label="lab_cit_ScheduleOfAvailableForSaleAndHeldToMaturitySecuritiesLineItems_5AC7F3576B8DBEDF36BA23D1A59810B6" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Schedule Of Available For Sale And Held To Maturity Securities [Line Items] </link:label>

<link:loc xlink:href="cit-20180331.xsd#cit_ScheduleOfAvailableForSaleAndHeldToMaturitySecuritiesLineItems" xlink:label="loc_cit_ScheduleOfAvailableForSaleAndHeldToMaturitySecuritiesLineItems_5AC7F3576B8DBEDF36BA23D1A59810B6" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cit_ScheduleOfAvailableForSaleAndHeldToMaturitySecuritiesLineItems_5AC7F3576B8DBEDF36BA23D1A59810B6" xlink:to="lab_cit_ScheduleOfAvailableForSaleAndHeldToMaturitySecuritiesLineItems_5AC7F3576B8DBEDF36BA23D1A59810B6" xlink:type="arc"/>

<link:label id="lab_us-gaap_AvailableForSaleSecurities_F5A1DDA0A2679F28A93823D1A598EFE9_terseLabel_en-US" xlink:label="lab_us-gaap_AvailableForSaleSecurities_F5A1DDA0A2679F28A93823D1A598EFE9" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Available-for-sale securities </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_AvailableForSaleSecurities" xlink:label="loc_us-gaap_AvailableForSaleSecurities_F5A1DDA0A2679F28A93823D1A598EFE9" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AvailableForSaleSecurities_F5A1DDA0A2679F28A93823D1A598EFE9" xlink:to="lab_us-gaap_AvailableForSaleSecurities_F5A1DDA0A2679F28A93823D1A598EFE9" xlink:type="arc"/>

<link:label id="lab_us-gaap_Investments_A535B14ADF17165FC40C23D1A598B3D1_terseLabel_en-US" xlink:label="lab_us-gaap_Investments_A535B14ADF17165FC40C23D1A598B3D1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Total investment securities </link:label>

<link:label id="lab_us-gaap_Investments_A535B14ADF17165FC40C23D1A598B3D1_label_en-US" xlink:label="lab_us-gaap_Investments_A535B14ADF17165FC40C23D1A598B3D1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Investments </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_Investments" xlink:label="loc_us-gaap_Investments_A535B14ADF17165FC40C23D1A598B3D1" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_Investments_A535B14ADF17165FC40C23D1A598B3D1" xlink:to="lab_us-gaap_Investments_A535B14ADF17165FC40C23D1A598B3D1" xlink:type="arc"/>

<link:label id="lab_us-gaap_EquityMethodInvestmentOwnershipPercentage_93571FCB9DBB4C4AAD7423D1A598B580_terseLabel_en-US" xlink:label="lab_us-gaap_EquityMethodInvestmentOwnershipPercentage_93571FCB9DBB4C4AAD7423D1A598B580" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Percentage of non-marketable equity method ownership interests </link:label>

<link:label id="lab_us-gaap_EquityMethodInvestmentOwnershipPercentage_93571FCB9DBB4C4AAD7423D1A598B580_label_en-US" xlink:label="lab_us-gaap_EquityMethodInvestmentOwnershipPercentage_93571FCB9DBB4C4AAD7423D1A598B580" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Equity Method Investment, Ownership Percentage </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_EquityMethodInvestmentOwnershipPercentage" xlink:label="loc_us-gaap_EquityMethodInvestmentOwnershipPercentage_93571FCB9DBB4C4AAD7423D1A598B580" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EquityMethodInvestmentOwnershipPercentage_93571FCB9DBB4C4AAD7423D1A598B580" xlink:to="lab_us-gaap_EquityMethodInvestmentOwnershipPercentage_93571FCB9DBB4C4AAD7423D1A598B580" xlink:type="arc"/>

<link:label id="lab_cit_OnewestBankMember_27CAE41FA95B2AE636050802A575CEC7_verboseLabel_en-US" xlink:label="lab_cit_OnewestBankMember_27CAE41FA95B2AE636050802A575CEC7" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> One West Transaction </link:label>

<link:loc xlink:href="cit-20180331.xsd#cit_OnewestBankMember" xlink:label="loc_cit_OnewestBankMember_27CAE41FA95B2AE636050802A575CEC7" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cit_OnewestBankMember_27CAE41FA95B2AE636050802A575CEC7" xlink:to="lab_cit_OnewestBankMember_27CAE41FA95B2AE636050802A575CEC7" xlink:type="arc"/>

<link:label id="lab_us-gaap_ResidentialMortgageMember_BD8F53262CC3607F5F3E0802A5754B6B_terseLabel_en-US" xlink:label="lab_us-gaap_ResidentialMortgageMember_BD8F53262CC3607F5F3E0802A5754B6B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Residential Mortgage </link:label>

<link:label id="lab_us-gaap_ResidentialMortgageMember_BD8F53262CC3607F5F3E0802A5754B6B_label_en-US" xlink:label="lab_us-gaap_ResidentialMortgageMember_BD8F53262CC3607F5F3E0802A5754B6B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Residential Mortgage [Member] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ResidentialMortgageMember" xlink:label="loc_us-gaap_ResidentialMortgageMember_BD8F53262CC3607F5F3E0802A5754B6B" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ResidentialMortgageMember_BD8F53262CC3607F5F3E0802A5754B6B" xlink:to="lab_us-gaap_ResidentialMortgageMember_BD8F53262CC3607F5F3E0802A5754B6B" xlink:type="arc"/>

<link:label id="lab_us-gaap_LoansAndLeasesReceivableNetReportedAmount_63FC72C3E68FA6EA41A00802A576320A_terseLabel_en-US" xlink:label="lab_us-gaap_LoansAndLeasesReceivableNetReportedAmount_63FC72C3E68FA6EA41A00802A576320A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Portfolio of reverse mortgages </link:label>

<link:label id="lab_us-gaap_LoansAndLeasesReceivableNetReportedAmount_63FC72C3E68FA6EA41A00802A576320A_label_en-US" xlink:label="lab_us-gaap_LoansAndLeasesReceivableNetReportedAmount_63FC72C3E68FA6EA41A00802A576320A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Loans and Leases Receivable, Net Amount </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_LoansAndLeasesReceivableNetReportedAmount" xlink:label="loc_us-gaap_LoansAndLeasesReceivableNetReportedAmount_63FC72C3E68FA6EA41A00802A576320A" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LoansAndLeasesReceivableNetReportedAmount_63FC72C3E68FA6EA41A00802A576320A" xlink:to="lab_us-gaap_LoansAndLeasesReceivableNetReportedAmount_63FC72C3E68FA6EA41A00802A576320A" xlink:type="arc"/>

<link:label id="lab_us-gaap_RealEstateAcquiredThroughForeclosure_8478A675C912C15FE5A20802A576DCCD_verboseLabel_en-US" xlink:label="lab_us-gaap_RealEstateAcquiredThroughForeclosure_8478A675C912C15FE5A20802A576DCCD" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Other real estate owned assets </link:label>

<link:label id="lab_us-gaap_RealEstateAcquiredThroughForeclosure_8478A675C912C15FE5A20802A576DCCD_label_en-US" xlink:label="lab_us-gaap_RealEstateAcquiredThroughForeclosure_8478A675C912C15FE5A20802A576DCCD" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Real Estate Acquired Through Foreclosure </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_RealEstateAcquiredThroughForeclosure" xlink:label="loc_us-gaap_RealEstateAcquiredThroughForeclosure_8478A675C912C15FE5A20802A576DCCD" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RealEstateAcquiredThroughForeclosure_8478A675C912C15FE5A20802A576DCCD" xlink:to="lab_us-gaap_RealEstateAcquiredThroughForeclosure_8478A675C912C15FE5A20802A576DCCD" xlink:type="arc"/>

<link:label id="lab_us-gaap_FDICIndemnificationAsset_7D1CAA48BE9A7140BBE70802A576A6BD_verboseLabel_en-US" xlink:label="lab_us-gaap_FDICIndemnificationAsset_7D1CAA48BE9A7140BBE70802A576A6BD" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Indemnification receivable from the FDIC </link:label>

<link:label id="lab_us-gaap_FDICIndemnificationAsset_7D1CAA48BE9A7140BBE70802A576A6BD_label_en-US" xlink:label="lab_us-gaap_FDICIndemnificationAsset_7D1CAA48BE9A7140BBE70802A576A6BD" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> FDIC Indemnification Asset </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_FDICIndemnificationAsset" xlink:label="loc_us-gaap_FDICIndemnificationAsset_7D1CAA48BE9A7140BBE70802A576A6BD" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FDICIndemnificationAsset_7D1CAA48BE9A7140BBE70802A576A6BD" xlink:to="lab_us-gaap_FDICIndemnificationAsset_7D1CAA48BE9A7140BBE70802A576A6BD" xlink:type="arc"/>

<link:label id="lab_us-gaap_ScheduleOfFinancingReceivableRecordedInvestmentCreditQualityIndicatorTable_008EF30874F3213AB78F21FAC244F03C_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfFinancingReceivableRecordedInvestmentCreditQualityIndicatorTable_008EF30874F3213AB78F21FAC244F03C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Schedule of Financing Receivable, Recorded Investment, Credit Quality Indicator [Table] </link:label>

<link:label id="lab_us-gaap_ScheduleOfFinancingReceivableRecordedInvestmentCreditQualityIndicatorTable_008EF30874F3213AB78F21FAC244F03C_label_en-US" xlink:label="lab_us-gaap_ScheduleOfFinancingReceivableRecordedInvestmentCreditQualityIndicatorTable_008EF30874F3213AB78F21FAC244F03C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Schedule of Financing Receivable, Recorded Investment, Credit Quality Indicator [Table] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ScheduleOfFinancingReceivableRecordedInvestmentCreditQualityIndicatorTable" xlink:label="loc_us-gaap_ScheduleOfFinancingReceivableRecordedInvestmentCreditQualityIndicatorTable_008EF30874F3213AB78F21FAC244F03C" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfFinancingReceivableRecordedInvestmentCreditQualityIndicatorTable_008EF30874F3213AB78F21FAC244F03C" xlink:to="lab_us-gaap_ScheduleOfFinancingReceivableRecordedInvestmentCreditQualityIndicatorTable_008EF30874F3213AB78F21FAC244F03C" xlink:type="arc"/>

<link:label id="lab_us-gaap_PassMember_08DCB3D5C920440AADB021FAC2452196_terseLabel_en-US" xlink:label="lab_us-gaap_PassMember_08DCB3D5C920440AADB021FAC2452196" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Pass </link:label>

<link:label id="lab_us-gaap_PassMember_08DCB3D5C920440AADB021FAC2452196_label_en-US" xlink:label="lab_us-gaap_PassMember_08DCB3D5C920440AADB021FAC2452196" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Pass [Member] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_PassMember" xlink:label="loc_us-gaap_PassMember_08DCB3D5C920440AADB021FAC2452196" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PassMember_08DCB3D5C920440AADB021FAC2452196" xlink:to="lab_us-gaap_PassMember_08DCB3D5C920440AADB021FAC2452196" xlink:type="arc"/>

<link:label id="lab_us-gaap_SpecialMentionMember_9B03714E7348018756D721FAC2461513_terseLabel_en-US" xlink:label="lab_us-gaap_SpecialMentionMember_9B03714E7348018756D721FAC2461513" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Special Mention </link:label>

<link:label id="lab_us-gaap_SpecialMentionMember_9B03714E7348018756D721FAC2461513_label_en-US" xlink:label="lab_us-gaap_SpecialMentionMember_9B03714E7348018756D721FAC2461513" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Special Mention [Member] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_SpecialMentionMember" xlink:label="loc_us-gaap_SpecialMentionMember_9B03714E7348018756D721FAC2461513" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SpecialMentionMember_9B03714E7348018756D721FAC2461513" xlink:to="lab_us-gaap_SpecialMentionMember_9B03714E7348018756D721FAC2461513" xlink:type="arc"/>

<link:label id="lab_cit_ClassifiedAccrualMember_F425F01BAA6AE5C0BC3621FAC2467E52_terseLabel_en-US" xlink:label="lab_cit_ClassifiedAccrualMember_F425F01BAA6AE5C0BC3621FAC2467E52" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Classified- accruing </link:label>

<link:label id="lab_cit_ClassifiedAccrualMember_F425F01BAA6AE5C0BC3621FAC2467E52_label_en-US" xlink:label="lab_cit_ClassifiedAccrualMember_F425F01BAA6AE5C0BC3621FAC2467E52" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Classified Accrual [Member] </link:label>

<link:label id="lab_cit_ClassifiedAccrualMember_F425F01BAA6AE5C0BC3621FAC2467E52_documentation_en-US" xlink:label="lab_cit_ClassifiedAccrualMember_F425F01BAA6AE5C0BC3621FAC2467E52" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Classified Accrual [Member] </link:label>

<link:loc xlink:href="cit-20180331.xsd#cit_ClassifiedAccrualMember" xlink:label="loc_cit_ClassifiedAccrualMember_F425F01BAA6AE5C0BC3621FAC2467E52" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cit_ClassifiedAccrualMember_F425F01BAA6AE5C0BC3621FAC2467E52" xlink:to="lab_cit_ClassifiedAccrualMember_F425F01BAA6AE5C0BC3621FAC2467E52" xlink:type="arc"/>

<link:label id="lab_cit_ClassifiedNonAccrualMember_6BE565DB2E17CE2EBD9821FAC2468DC4_terseLabel_en-US" xlink:label="lab_cit_ClassifiedNonAccrualMember_6BE565DB2E17CE2EBD9821FAC2468DC4" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Classified- non-accrual </link:label>

<link:label id="lab_cit_ClassifiedNonAccrualMember_6BE565DB2E17CE2EBD9821FAC2468DC4_label_en-US" xlink:label="lab_cit_ClassifiedNonAccrualMember_6BE565DB2E17CE2EBD9821FAC2468DC4" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Classified Non Accrual [Member] </link:label>

<link:label id="lab_cit_ClassifiedNonAccrualMember_6BE565DB2E17CE2EBD9821FAC2468DC4_documentation_en-US" xlink:label="lab_cit_ClassifiedNonAccrualMember_6BE565DB2E17CE2EBD9821FAC2468DC4" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Classified Non Accrual [Member] </link:label>

<link:loc xlink:href="cit-20180331.xsd#cit_ClassifiedNonAccrualMember" xlink:label="loc_cit_ClassifiedNonAccrualMember_6BE565DB2E17CE2EBD9821FAC2468DC4" xlink:type="locator"/>

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<link:label id="lab_us-gaap_FinancingReceivableRecordedInvestmentLineItems_A74B521F24BD6FB6261821FAC246A222_terseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableRecordedInvestmentLineItems_A74B521F24BD6FB6261821FAC246A222" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Financing Receivable, Recorded Investment [Line Items] </link:label>

<link:label id="lab_us-gaap_FinancingReceivableRecordedInvestmentLineItems_A74B521F24BD6FB6261821FAC246A222_label_en-US" xlink:label="lab_us-gaap_FinancingReceivableRecordedInvestmentLineItems_A74B521F24BD6FB6261821FAC246A222" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Financing Receivable, Recorded Investment [Line Items] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_FinancingReceivableRecordedInvestmentLineItems" xlink:label="loc_us-gaap_FinancingReceivableRecordedInvestmentLineItems_A74B521F24BD6FB6261821FAC246A222" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinancingReceivableRecordedInvestmentLineItems_A74B521F24BD6FB6261821FAC246A222" xlink:to="lab_us-gaap_FinancingReceivableRecordedInvestmentLineItems_A74B521F24BD6FB6261821FAC246A222" xlink:type="arc"/>

<link:label id="lab_cit_LoansReceivableIncludingHeldForSaleGross_82466D37410F2BD83F8A21FAC246065A_verboseLabel_en-US" xlink:label="lab_cit_LoansReceivableIncludingHeldForSaleGross_82466D37410F2BD83F8A21FAC246065A" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Loans </link:label>

<link:loc xlink:href="cit-20180331.xsd#cit_LoansReceivableIncludingHeldForSaleGross" xlink:label="loc_cit_LoansReceivableIncludingHeldForSaleGross_82466D37410F2BD83F8A21FAC246065A" xlink:type="locator"/>

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<link:label id="lab_us-gaap_PassMember_6857019A513A1E80A07CFD8030F5EF95_verboseLabel_en-US" xlink:label="lab_us-gaap_PassMember_6857019A513A1E80A07CFD8030F5EF95" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Non- criticized </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_PassMember" xlink:label="loc_us-gaap_PassMember_6857019A513A1E80A07CFD8030F5EF95" xlink:type="locator"/>

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<link:label id="lab_us-gaap_CriticizedMember_CE7E2A9A65339866AFC8FD8030F5C747_terseLabel_en-US" xlink:label="lab_us-gaap_CriticizedMember_CE7E2A9A65339866AFC8FD8030F5C747" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Criticized </link:label>

<link:label id="lab_us-gaap_CriticizedMember_CE7E2A9A65339866AFC8FD8030F5C747_label_en-US" xlink:label="lab_us-gaap_CriticizedMember_CE7E2A9A65339866AFC8FD8030F5C747" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Criticized [Member] </link:label>

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<link:label id="lab_us-gaap_IncomeTaxDisclosureTextBlock_2C974EDC874CD7B9BCC6071F6EDD0F94_terseLabel_en-US" xlink:label="lab_us-gaap_IncomeTaxDisclosureTextBlock_E0FF58D9F44B5782BC7670C13EA03F35" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> INCOME TAXES </link:label>

<link:label id="lab_us-gaap_IncomeTaxDisclosureTextBlock_2C974EDC874CD7B9BCC6071F6EDD0F94_label_en-US" xlink:label="lab_us-gaap_IncomeTaxDisclosureTextBlock_E0FF58D9F44B5782BC7670C13EA03F35" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Income Tax Disclosure [Text Block] </link:label>

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<link:label id="lab_us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock_C1EB370FE46614AB7A82071F6E45E532_verboseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock_18C41CA085B85C7D8DA5472836CF3BB0" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Segment Pre-Tax Income (Loss) </link:label>

<link:label id="lab_us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock_C1EB370FE46614AB7A82071F6E45E532_label_en-US" xlink:label="lab_us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock_18C41CA085B85C7D8DA5472836CF3BB0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Schedule of Segment Reporting Information, by Segment [Table Text Block] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock" xlink:label="loc_us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock_18C41CA085B85C7D8DA5472836CF3BB0" xlink:type="locator"/>

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<link:label id="lab_cit_UnearnedIncome_0978458BB7B54D088DCE0802A5423511_negatedTerseLabel_en-US" xlink:label="lab_cit_UnearnedIncome_0978458BB7B54D088DCE0802A5423511" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US"> Unearned income </link:label>

<link:label id="lab_cit_UnearnedIncome_0978458BB7B54D088DCE0802A5423511_label_en-US" xlink:label="lab_cit_UnearnedIncome_0978458BB7B54D088DCE0802A5423511" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Unearned Income </link:label>

<link:label id="lab_cit_UnearnedIncome_0978458BB7B54D088DCE0802A5423511_documentation_en-US" xlink:label="lab_cit_UnearnedIncome_0978458BB7B54D088DCE0802A5423511" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Unearned Income </link:label>

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<link:label id="lab_cit_UnamortizedLoanCommitmentAndUnamortizedPremiumsAndDiscounts_8316AA3E1FFF06551AD50802A54295A0_negatedTerseLabel_en-US" xlink:label="lab_cit_UnamortizedLoanCommitmentAndUnamortizedPremiumsAndDiscounts_8316AA3E1FFF06551AD50802A54295A0" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US"> Unamortized premiums / (discounts) </link:label>

<link:label id="lab_cit_UnamortizedLoanCommitmentAndUnamortizedPremiumsAndDiscounts_8316AA3E1FFF06551AD50802A54295A0_label_en-US" xlink:label="lab_cit_UnamortizedLoanCommitmentAndUnamortizedPremiumsAndDiscounts_8316AA3E1FFF06551AD50802A54295A0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Unamortized Loan Commitment And Unamortized Premiums And Discounts </link:label>

<link:label id="lab_cit_UnamortizedLoanCommitmentAndUnamortizedPremiumsAndDiscounts_8316AA3E1FFF06551AD50802A54295A0_documentation_en-US" xlink:label="lab_cit_UnamortizedLoanCommitmentAndUnamortizedPremiumsAndDiscounts_8316AA3E1FFF06551AD50802A54295A0" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Unamortized Loan Commitment And Unamortized Premiums And Discounts </link:label>

<link:loc xlink:href="cit-20180331.xsd#cit_UnamortizedLoanCommitmentAndUnamortizedPremiumsAndDiscounts" xlink:label="loc_cit_UnamortizedLoanCommitmentAndUnamortizedPremiumsAndDiscounts_8316AA3E1FFF06551AD50802A54295A0" xlink:type="locator"/>

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<link:label id="lab_us-gaap_CertainLoansAcquiredInTransferAccretableYield_B5B941959104ED7ADD1F0802A5425376_negatedNetLabel_en-US" xlink:label="lab_us-gaap_CertainLoansAcquiredInTransferAccretableYield_B5B941959104ED7ADD1F0802A5425376" xlink:role="http://www.xbrl.org/2009/role/negatedNetLabel" xlink:type="resource" xml:lang="en-US"> Accretable yield on Purchased Credit-Impaired (“PCI”) loans </link:label>

<link:label id="lab_us-gaap_CertainLoansAcquiredInTransferAccretableYield_B5B941959104ED7ADD1F0802A5425376_label_en-US" xlink:label="lab_us-gaap_CertainLoansAcquiredInTransferAccretableYield_B5B941959104ED7ADD1F0802A5425376" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Certain Loans Acquired in Transfer, Accretable Yield </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_CertainLoansAcquiredInTransferAccretableYield" xlink:label="loc_us-gaap_CertainLoansAcquiredInTransferAccretableYield_B5B941959104ED7ADD1F0802A5425376" xlink:type="locator"/>

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<link:label id="lab_cit_NetUnamortizedDeferredFeesAndCosts_FD5A000AD379DFFDAE760802A5421F0E_terseLabel_en-US" xlink:label="lab_cit_NetUnamortizedDeferredFeesAndCosts_FD5A000AD379DFFDAE760802A5421F0E" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Net unamortized deferred costs and (fees) </link:label>

<link:label id="lab_cit_NetUnamortizedDeferredFeesAndCosts_FD5A000AD379DFFDAE760802A5421F0E_label_en-US" xlink:label="lab_cit_NetUnamortizedDeferredFeesAndCosts_FD5A000AD379DFFDAE760802A5421F0E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Net Unamortized Deferred Fees And Costs </link:label>

<link:label id="lab_cit_NetUnamortizedDeferredFeesAndCosts_FD5A000AD379DFFDAE760802A5421F0E_documentation_en-US" xlink:label="lab_cit_NetUnamortizedDeferredFeesAndCosts_FD5A000AD379DFFDAE760802A5421F0E" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Net Unamortized Deferred Fees And Costs </link:label>

<link:loc xlink:href="cit-20180331.xsd#cit_NetUnamortizedDeferredFeesAndCosts" xlink:label="loc_cit_NetUnamortizedDeferredFeesAndCosts_FD5A000AD379DFFDAE760802A5421F0E" xlink:type="locator"/>

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<link:label id="lab_us-gaap_ImpairedFinancingReceivableUnpaidPrincipalBalance_0E3EFFB4270C4AC44B7421FAC20EC499_terseLabel_en-US" xlink:label="lab_us-gaap_ImpairedFinancingReceivableUnpaidPrincipalBalance_0E3EFFB4270C4AC44B7421FAC20EC499" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Unpaid Principal Balance </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ImpairedFinancingReceivableUnpaidPrincipalBalance" xlink:label="loc_us-gaap_ImpairedFinancingReceivableUnpaidPrincipalBalance_0E3EFFB4270C4AC44B7421FAC20EC499" xlink:type="locator"/>

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<link:label id="lab_us-gaap_ImpairedFinancingReceivableRecordedInvestment_12881CA9A96D0BB01B2421FAC20E8C7B_terseLabel_en-US" xlink:label="lab_us-gaap_ImpairedFinancingReceivableRecordedInvestment_12881CA9A96D0BB01B2421FAC20E8C7B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Carrying Value </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ImpairedFinancingReceivableRecordedInvestment" xlink:label="loc_us-gaap_ImpairedFinancingReceivableRecordedInvestment_12881CA9A96D0BB01B2421FAC20E8C7B" xlink:type="locator"/>

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<link:label id="lab_us-gaap_ImpairedFinancingReceivableRelatedAllowance_8FC69DCEC47132EDA9A221FAC20E33F4_netLabel_en-US" xlink:label="lab_us-gaap_ImpairedFinancingReceivableRelatedAllowance_8FC69DCEC47132EDA9A221FAC20E33F4" xlink:role="http://www.xbrl.org/2009/role/netLabel" xlink:type="resource" xml:lang="en-US"> Allowance for Loan Losses </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ImpairedFinancingReceivableRelatedAllowance" xlink:label="loc_us-gaap_ImpairedFinancingReceivableRelatedAllowance_8FC69DCEC47132EDA9A221FAC20E33F4" xlink:type="locator"/>

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<link:label id="lab_cit_FairValueDisclosureTable_6D0B0EFF5C94349CC86503BBBF171141_terseLabel_en-US" xlink:label="lab_cit_FairValueDisclosureTable_6D0B0EFF5C94349CC86503BBBF171141" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Fair Value Disclosure [Table] </link:label>

<link:label id="lab_cit_FairValueDisclosureTable_6D0B0EFF5C94349CC86503BBBF171141_label_en-US" xlink:label="lab_cit_FairValueDisclosureTable_6D0B0EFF5C94349CC86503BBBF171141" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Fair Value Disclosure [Table] </link:label>

<link:label id="lab_cit_FairValueDisclosureTable_6D0B0EFF5C94349CC86503BBBF171141_documentation_en-US" xlink:label="lab_cit_FairValueDisclosureTable_6D0B0EFF5C94349CC86503BBBF171141" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Fair Value Disclosure [Table] </link:label>

<link:loc xlink:href="cit-20180331.xsd#cit_FairValueDisclosureTable" xlink:label="loc_cit_FairValueDisclosureTable_6D0B0EFF5C94349CC86503BBBF171141" xlink:type="locator"/>

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<link:label id="lab_cit_OtherRealEstateOwnedMember_25A0C732F22C76EAA56703BBBF1DF367_terseLabel_en-US" xlink:label="lab_cit_OtherRealEstateOwnedMember_25A0C732F22C76EAA56703BBBF1DF367" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Other Real Estate Owned </link:label>

<link:label id="lab_cit_OtherRealEstateOwnedMember_25A0C732F22C76EAA56703BBBF1DF367_label_en-US" xlink:label="lab_cit_OtherRealEstateOwnedMember_25A0C732F22C76EAA56703BBBF1DF367" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Other Real Estate Owned [Member] </link:label>

<link:label id="lab_cit_OtherRealEstateOwnedMember_25A0C732F22C76EAA56703BBBF1DF367_documentation_en-US" xlink:label="lab_cit_OtherRealEstateOwnedMember_25A0C732F22C76EAA56703BBBF1DF367" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Other Real Estate Owned [Member] </link:label>

<link:loc xlink:href="cit-20180331.xsd#cit_OtherRealEstateOwnedMember" xlink:label="loc_cit_OtherRealEstateOwnedMember_25A0C732F22C76EAA56703BBBF1DF367" xlink:type="locator"/>

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<link:label id="lab_cit_FairValueDisclosureLineItems_7D3FA4BB53676990C6A203BBBF1EFC6E_terseLabel_en-US" xlink:label="lab_cit_FairValueDisclosureLineItems_7D3FA4BB53676990C6A203BBBF1EFC6E" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Fair Value Disclosure [Line Items] </link:label>

<link:label id="lab_cit_FairValueDisclosureLineItems_7D3FA4BB53676990C6A203BBBF1EFC6E_label_en-US" xlink:label="lab_cit_FairValueDisclosureLineItems_7D3FA4BB53676990C6A203BBBF1EFC6E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Fair Value Disclosure [Line Items] </link:label>

<link:label id="lab_cit_FairValueDisclosureLineItems_7D3FA4BB53676990C6A203BBBF1EFC6E_documentation_en-US" xlink:label="lab_cit_FairValueDisclosureLineItems_7D3FA4BB53676990C6A203BBBF1EFC6E" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Fair Value Disclosure [Line Items] </link:label>

<link:loc xlink:href="cit-20180331.xsd#cit_FairValueDisclosureLineItems" xlink:label="loc_cit_FairValueDisclosureLineItems_7D3FA4BB53676990C6A203BBBF1EFC6E" xlink:type="locator"/>

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<link:label id="lab_cit_NumberOfConsiderationHoldbackLiabilities_BED548133B6E4930D95803BBBF1E376B_verboseLabel_en-US" xlink:label="lab_cit_NumberOfConsiderationHoldbackLiabilities_BED548133B6E4930D95803BBBF1E376B" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Number of consideration holdback liabilities </link:label>

<link:label id="lab_cit_NumberOfConsiderationHoldbackLiabilities_BED548133B6E4930D95803BBBF1E376B_label_en-US" xlink:label="lab_cit_NumberOfConsiderationHoldbackLiabilities_BED548133B6E4930D95803BBBF1E376B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Number Of Consideration Holdback Liabilities </link:label>

<link:label id="lab_cit_NumberOfConsiderationHoldbackLiabilities_BED548133B6E4930D95803BBBF1E376B_documentation_en-US" xlink:label="lab_cit_NumberOfConsiderationHoldbackLiabilities_BED548133B6E4930D95803BBBF1E376B" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Number Of Consideration Holdback Liabilities </link:label>

<link:loc xlink:href="cit-20180331.xsd#cit_NumberOfConsiderationHoldbackLiabilities" xlink:label="loc_cit_NumberOfConsiderationHoldbackLiabilities_BED548133B6E4930D95803BBBF1E376B" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cit_NumberOfConsiderationHoldbackLiabilities_BED548133B6E4930D95803BBBF1E376B" xlink:to="lab_cit_NumberOfConsiderationHoldbackLiabilities_BED548133B6E4930D95803BBBF1E376B" xlink:type="arc"/>

<link:label id="lab_cit_ReductionInCashConsiderationDueToTrailingRisks_4FA2C183C09C9AF699BA03BBBF1EEED3_terseLabel_en-US" xlink:label="lab_cit_ReductionInCashConsiderationDueToTrailingRisks_4FA2C183C09C9AF699BA03BBBF1EEED3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Reduction in cash consideration due to trailing risks </link:label>

<link:label id="lab_cit_ReductionInCashConsiderationDueToTrailingRisks_4FA2C183C09C9AF699BA03BBBF1EEED3_label_en-US" xlink:label="lab_cit_ReductionInCashConsiderationDueToTrailingRisks_4FA2C183C09C9AF699BA03BBBF1EEED3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Reduction in cash consideration due to trailing risks </link:label>

<link:label id="lab_cit_ReductionInCashConsiderationDueToTrailingRisks_4FA2C183C09C9AF699BA03BBBF1EEED3_documentation_en-US" xlink:label="lab_cit_ReductionInCashConsiderationDueToTrailingRisks_4FA2C183C09C9AF699BA03BBBF1EEED3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Reduction in cash consideration due to trailing risks </link:label>

<link:loc xlink:href="cit-20180331.xsd#cit_ReductionInCashConsiderationDueToTrailingRisks" xlink:label="loc_cit_ReductionInCashConsiderationDueToTrailingRisks_4FA2C183C09C9AF699BA03BBBF1EEED3" xlink:type="locator"/>

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<link:label id="lab_cit_HoldbackPeriods_05A9C00DCDFB8FD8E80403BBBF1E0207_terseLabel_en-US" xlink:label="lab_cit_HoldbackPeriods_05A9C00DCDFB8FD8E80403BBBF1E0207" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Holdback periods </link:label>

<link:label id="lab_cit_HoldbackPeriods_05A9C00DCDFB8FD8E80403BBBF1E0207_label_en-US" xlink:label="lab_cit_HoldbackPeriods_05A9C00DCDFB8FD8E80403BBBF1E0207" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Holdback periods </link:label>

<link:label id="lab_cit_HoldbackPeriods_05A9C00DCDFB8FD8E80403BBBF1E0207_documentation_en-US" xlink:label="lab_cit_HoldbackPeriods_05A9C00DCDFB8FD8E80403BBBF1E0207" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Holdback periods </link:label>

<link:loc xlink:href="cit-20180331.xsd#cit_HoldbackPeriods" xlink:label="loc_cit_HoldbackPeriods_05A9C00DCDFB8FD8E80403BBBF1E0207" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cit_HoldbackPeriods_05A9C00DCDFB8FD8E80403BBBF1E0207" xlink:to="lab_cit_HoldbackPeriods_05A9C00DCDFB8FD8E80403BBBF1E0207" xlink:type="arc"/>

<link:label id="lab_us-gaap_BusinessCombinationContingentConsiderationArrangementsRangeOfOutcomesValueHigh_6E6FCB278CC04874556F03BBBF1E6AAA_terseLabel_en-US" xlink:label="lab_us-gaap_BusinessCombinationContingentConsiderationArrangementsRangeOfOutcomesValueHigh_6E6FCB278CC04874556F03BBBF1E6AAA" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Range of potential holdback to be paid </link:label>

<link:label id="lab_us-gaap_BusinessCombinationContingentConsiderationArrangementsRangeOfOutcomesValueHigh_6E6FCB278CC04874556F03BBBF1E6AAA_label_en-US" xlink:label="lab_us-gaap_BusinessCombinationContingentConsiderationArrangementsRangeOfOutcomesValueHigh_6E6FCB278CC04874556F03BBBF1E6AAA" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_BusinessCombinationContingentConsiderationArrangementsRangeOfOutcomesValueHigh" xlink:label="loc_us-gaap_BusinessCombinationContingentConsiderationArrangementsRangeOfOutcomesValueHigh_6E6FCB278CC04874556F03BBBF1E6AAA" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BusinessCombinationContingentConsiderationArrangementsRangeOfOutcomesValueHigh_6E6FCB278CC04874556F03BBBF1E6AAA" xlink:to="lab_us-gaap_BusinessCombinationContingentConsiderationArrangementsRangeOfOutcomesValueHigh_6E6FCB278CC04874556F03BBBF1E6AAA" xlink:type="arc"/>

<link:label id="lab_cit_ProbableAmountOfHoldbackToBePaid_4E2FE2033FBDB181E09103BBBF1E6FB3_terseLabel_en-US" xlink:label="lab_cit_ProbableAmountOfHoldbackToBePaid_4E2FE2033FBDB181E09103BBBF1E6FB3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Probable amount of holdback to be paid </link:label>

<link:label id="lab_cit_ProbableAmountOfHoldbackToBePaid_4E2FE2033FBDB181E09103BBBF1E6FB3_label_en-US" xlink:label="lab_cit_ProbableAmountOfHoldbackToBePaid_4E2FE2033FBDB181E09103BBBF1E6FB3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Probable Amount Of Holdback To Be Paid </link:label>

<link:label id="lab_cit_ProbableAmountOfHoldbackToBePaid_4E2FE2033FBDB181E09103BBBF1E6FB3_documentation_en-US" xlink:label="lab_cit_ProbableAmountOfHoldbackToBePaid_4E2FE2033FBDB181E09103BBBF1E6FB3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Probable Amount Of Holdback To Be Paid </link:label>

<link:loc xlink:href="cit-20180331.xsd#cit_ProbableAmountOfHoldbackToBePaid" xlink:label="loc_cit_ProbableAmountOfHoldbackToBePaid_4E2FE2033FBDB181E09103BBBF1E6FB3" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cit_ProbableAmountOfHoldbackToBePaid_4E2FE2033FBDB181E09103BBBF1E6FB3" xlink:to="lab_cit_ProbableAmountOfHoldbackToBePaid_4E2FE2033FBDB181E09103BBBF1E6FB3" xlink:type="arc"/>

<link:label id="lab_us-gaap_BusinessCombinationContingentConsiderationLiability_8ACC0780D5E3F6E0912103BBBF1F8968_terseLabel_en-US" xlink:label="lab_us-gaap_BusinessCombinationContingentConsiderationLiability_8ACC0780D5E3F6E0912103BBBF1F8968" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Contingent liabilities </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_BusinessCombinationContingentConsiderationLiability" xlink:label="loc_us-gaap_BusinessCombinationContingentConsiderationLiability_8ACC0780D5E3F6E0912103BBBF1F8968" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BusinessCombinationContingentConsiderationLiability_8ACC0780D5E3F6E0912103BBBF1F8968" xlink:to="lab_us-gaap_BusinessCombinationContingentConsiderationLiability_8ACC0780D5E3F6E0912103BBBF1F8968" xlink:type="arc"/>

<link:label id="lab_cit_BorrowerRateMaximumEffectivePeriod_2B713C39D137A957B9BD03BBBF1FE06C_terseLabel_en-US" xlink:label="lab_cit_BorrowerRateMaximumEffectivePeriod_2B713C39D137A957B9BD03BBBF1FE06C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Borrower rate, max effective period </link:label>

<link:label id="lab_cit_BorrowerRateMaximumEffectivePeriod_2B713C39D137A957B9BD03BBBF1FE06C_label_en-US" xlink:label="lab_cit_BorrowerRateMaximumEffectivePeriod_2B713C39D137A957B9BD03BBBF1FE06C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Borrower Rate, Maximum Effective Period </link:label>

<link:label id="lab_cit_BorrowerRateMaximumEffectivePeriod_2B713C39D137A957B9BD03BBBF1FE06C_documentation_en-US" xlink:label="lab_cit_BorrowerRateMaximumEffectivePeriod_2B713C39D137A957B9BD03BBBF1FE06C" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Borrower Rate, Maximum Effective Period </link:label>

<link:loc xlink:href="cit-20180331.xsd#cit_BorrowerRateMaximumEffectivePeriod" xlink:label="loc_cit_BorrowerRateMaximumEffectivePeriod_2B713C39D137A957B9BD03BBBF1FE06C" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cit_BorrowerRateMaximumEffectivePeriod_2B713C39D137A957B9BD03BBBF1FE06C" xlink:to="lab_cit_BorrowerRateMaximumEffectivePeriod_2B713C39D137A957B9BD03BBBF1FE06C" xlink:type="arc"/>

<link:label id="lab_cit_FairValueInputsCosttoSellasaPercentage_E9FF9412DA2F47C86A1403BBBF1FD342_terseLabel_en-US" xlink:label="lab_cit_FairValueInputsCosttoSellasaPercentage_E9FF9412DA2F47C86A1403BBBF1FD342" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Inputs used to estimate cost to sell </link:label>

<link:label id="lab_cit_FairValueInputsCosttoSellasaPercentage_E9FF9412DA2F47C86A1403BBBF1FD342_label_en-US" xlink:label="lab_cit_FairValueInputsCosttoSellasaPercentage_E9FF9412DA2F47C86A1403BBBF1FD342" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Fair Value Inputs, Cost to Sell as a Percentage </link:label>

<link:label id="lab_cit_FairValueInputsCosttoSellasaPercentage_E9FF9412DA2F47C86A1403BBBF1FD342_documentation_en-US" xlink:label="lab_cit_FairValueInputsCosttoSellasaPercentage_E9FF9412DA2F47C86A1403BBBF1FD342" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Fair Value Inputs, Cost to Sell as a Percentage </link:label>

<link:loc xlink:href="cit-20180331.xsd#cit_FairValueInputsCosttoSellasaPercentage" xlink:label="loc_cit_FairValueInputsCosttoSellasaPercentage_E9FF9412DA2F47C86A1403BBBF1FD342" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cit_FairValueInputsCosttoSellasaPercentage_E9FF9412DA2F47C86A1403BBBF1FD342" xlink:to="lab_cit_FairValueInputsCosttoSellasaPercentage_E9FF9412DA2F47C86A1403BBBF1FD342" xlink:type="arc"/>

<link:label id="lab_us-gaap_LoansReceivableFairValueDisclosure_783516C8C77402868CDF03BBBF1FBF46_terseLabel_en-US" xlink:label="lab_us-gaap_LoansReceivableFairValueDisclosure_783516C8C77402868CDF03BBBF1FBF46" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Fair value of loans </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_LoansReceivableFairValueDisclosure" xlink:label="loc_us-gaap_LoansReceivableFairValueDisclosure_783516C8C77402868CDF03BBBF1FBF46" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LoansReceivableFairValueDisclosure_783516C8C77402868CDF03BBBF1FBF46" xlink:to="lab_us-gaap_LoansReceivableFairValueDisclosure_783516C8C77402868CDF03BBBF1FBF46" xlink:type="arc"/>

<link:label id="lab_cit_FairValueOfLoansPercentage_424BF200C50ABA05952603BBBF1FB193_terseLabel_en-US" xlink:label="lab_cit_FairValueOfLoansPercentage_424BF200C50ABA05952603BBBF1FB193" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Fair value of loans, percentage </link:label>

<link:label id="lab_cit_FairValueOfLoansPercentage_424BF200C50ABA05952603BBBF1FB193_label_en-US" xlink:label="lab_cit_FairValueOfLoansPercentage_424BF200C50ABA05952603BBBF1FB193" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Fair Value Of Loans, Percentage </link:label>

<link:label id="lab_cit_FairValueOfLoansPercentage_424BF200C50ABA05952603BBBF1FB193_documentation_en-US" xlink:label="lab_cit_FairValueOfLoansPercentage_424BF200C50ABA05952603BBBF1FB193" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Fair Value Of Loans, Percentage </link:label>

<link:loc xlink:href="cit-20180331.xsd#cit_FairValueOfLoansPercentage" xlink:label="loc_cit_FairValueOfLoansPercentage_424BF200C50ABA05952603BBBF1FB193" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cit_FairValueOfLoansPercentage_424BF200C50ABA05952603BBBF1FB193" xlink:to="lab_cit_FairValueOfLoansPercentage_424BF200C50ABA05952603BBBF1FB193" xlink:type="arc"/>

<link:label id="lab_us-gaap_ImpairedFinancingReceivableUnpaidPrincipalBalance_F3CD0CC7181886AC5F4503BBBF1F948D_verboseLabel_en-US" xlink:label="lab_us-gaap_ImpairedFinancingReceivableUnpaidPrincipalBalance_F3CD0CC7181886AC5F4503BBBF1F948D" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Unpaid principal balance </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ImpairedFinancingReceivableUnpaidPrincipalBalance" xlink:label="loc_us-gaap_ImpairedFinancingReceivableUnpaidPrincipalBalance_F3CD0CC7181886AC5F4503BBBF1F948D" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ImpairedFinancingReceivableUnpaidPrincipalBalance_F3CD0CC7181886AC5F4503BBBF1F948D" xlink:to="lab_us-gaap_ImpairedFinancingReceivableUnpaidPrincipalBalance_F3CD0CC7181886AC5F4503BBBF1F948D" xlink:type="arc"/>

<link:label id="lab_cit_ImpairedLoansWithRelatedAllowanceCarryingAmount_D045DE38F765DE8EA00E03BBBF1FE347_terseLabel_en-US" xlink:label="lab_cit_ImpairedLoansWithRelatedAllowanceCarryingAmount_D045DE38F765DE8EA00E03BBBF1FE347" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Impaired loans carrying amount </link:label>

<link:label id="lab_cit_ImpairedLoansWithRelatedAllowanceCarryingAmount_D045DE38F765DE8EA00E03BBBF1FE347_label_en-US" xlink:label="lab_cit_ImpairedLoansWithRelatedAllowanceCarryingAmount_D045DE38F765DE8EA00E03BBBF1FE347" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Impaired Loans With Related Allowance Carrying Amount </link:label>

<link:label id="lab_cit_ImpairedLoansWithRelatedAllowanceCarryingAmount_D045DE38F765DE8EA00E03BBBF1FE347_documentation_en-US" xlink:label="lab_cit_ImpairedLoansWithRelatedAllowanceCarryingAmount_D045DE38F765DE8EA00E03BBBF1FE347" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Impaired Loans With Related Allowance Carrying Amount </link:label>

<link:loc xlink:href="cit-20180331.xsd#cit_ImpairedLoansWithRelatedAllowanceCarryingAmount" xlink:label="loc_cit_ImpairedLoansWithRelatedAllowanceCarryingAmount_D045DE38F765DE8EA00E03BBBF1FE347" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cit_ImpairedLoansWithRelatedAllowanceCarryingAmount_D045DE38F765DE8EA00E03BBBF1FE347" xlink:to="lab_cit_ImpairedLoansWithRelatedAllowanceCarryingAmount_D045DE38F765DE8EA00E03BBBF1FE347" xlink:type="arc"/>

<link:label id="lab_cit_ImpairedLoansWithRelatedAllowanceCarryingAmountPercentageOfUnpaidPrincipalBalance_414E11DD55B5DF8062EE03BBBF1FE266_terseLabel_en-US" xlink:label="lab_cit_ImpairedLoansWithRelatedAllowanceCarryingAmountPercentageOfUnpaidPrincipalBalance_414E11DD55B5DF8062EE03BBBF1FE266" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Carrying amount of impaired loans percentage of unpaid principal balance </link:label>

<link:label id="lab_cit_ImpairedLoansWithRelatedAllowanceCarryingAmountPercentageOfUnpaidPrincipalBalance_414E11DD55B5DF8062EE03BBBF1FE266_label_en-US" xlink:label="lab_cit_ImpairedLoansWithRelatedAllowanceCarryingAmountPercentageOfUnpaidPrincipalBalance_414E11DD55B5DF8062EE03BBBF1FE266" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Impaired Loans With Related Allowance Carrying Amount Percentage Of Unpaid Principal Balance </link:label>

<link:label id="lab_cit_ImpairedLoansWithRelatedAllowanceCarryingAmountPercentageOfUnpaidPrincipalBalance_414E11DD55B5DF8062EE03BBBF1FE266_documentation_en-US" xlink:label="lab_cit_ImpairedLoansWithRelatedAllowanceCarryingAmountPercentageOfUnpaidPrincipalBalance_414E11DD55B5DF8062EE03BBBF1FE266" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Impaired Loans With Related Allowance Carrying Amount Percentage Of Unpaid Principal Balance </link:label>

<link:loc xlink:href="cit-20180331.xsd#cit_ImpairedLoansWithRelatedAllowanceCarryingAmountPercentageOfUnpaidPrincipalBalance" xlink:label="loc_cit_ImpairedLoansWithRelatedAllowanceCarryingAmountPercentageOfUnpaidPrincipalBalance_414E11DD55B5DF8062EE03BBBF1FE266" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cit_ImpairedLoansWithRelatedAllowanceCarryingAmountPercentageOfUnpaidPrincipalBalance_414E11DD55B5DF8062EE03BBBF1FE266" xlink:to="lab_cit_ImpairedLoansWithRelatedAllowanceCarryingAmountPercentageOfUnpaidPrincipalBalance_414E11DD55B5DF8062EE03BBBF1FE266" xlink:type="arc"/>

<link:label id="lab_cit_ImpairedLoansWithNoSpecificAllowanceUnpaidPrincipalBalance_62620E89C966F0D477A603BBBF1FA4E8_terseLabel_en-US" xlink:label="lab_cit_ImpairedLoansWithNoSpecificAllowanceUnpaidPrincipalBalance_62620E89C966F0D477A603BBBF1FA4E8" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Impaired loans unpaid principal balance with no specific allowance </link:label>

<link:label id="lab_cit_ImpairedLoansWithNoSpecificAllowanceUnpaidPrincipalBalance_62620E89C966F0D477A603BBBF1FA4E8_label_en-US" xlink:label="lab_cit_ImpairedLoansWithNoSpecificAllowanceUnpaidPrincipalBalance_62620E89C966F0D477A603BBBF1FA4E8" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Impaired Loans With No Specific Allowance Unpaid Principal Balance </link:label>

<link:label id="lab_cit_ImpairedLoansWithNoSpecificAllowanceUnpaidPrincipalBalance_62620E89C966F0D477A603BBBF1FA4E8_documentation_en-US" xlink:label="lab_cit_ImpairedLoansWithNoSpecificAllowanceUnpaidPrincipalBalance_62620E89C966F0D477A603BBBF1FA4E8" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Impaired Loans With No Specific Allowance Unpaid Principal Balance </link:label>

<link:loc xlink:href="cit-20180331.xsd#cit_ImpairedLoansWithNoSpecificAllowanceUnpaidPrincipalBalance" xlink:label="loc_cit_ImpairedLoansWithNoSpecificAllowanceUnpaidPrincipalBalance_62620E89C966F0D477A603BBBF1FA4E8" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cit_ImpairedLoansWithNoSpecificAllowanceUnpaidPrincipalBalance_62620E89C966F0D477A603BBBF1FA4E8" xlink:to="lab_cit_ImpairedLoansWithNoSpecificAllowanceUnpaidPrincipalBalance_62620E89C966F0D477A603BBBF1FA4E8" xlink:type="arc"/>

<link:label id="lab_cit_ImpairedLoansWithNoSpecificAllowanceCarryingValue_EFC528D8878113B8E28203BBBF1F6593_terseLabel_en-US" xlink:label="lab_cit_ImpairedLoansWithNoSpecificAllowanceCarryingValue_EFC528D8878113B8E28203BBBF1F6593" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Impaired loans carrying value with no specific allowance </link:label>

<link:label id="lab_cit_ImpairedLoansWithNoSpecificAllowanceCarryingValue_EFC528D8878113B8E28203BBBF1F6593_label_en-US" xlink:label="lab_cit_ImpairedLoansWithNoSpecificAllowanceCarryingValue_EFC528D8878113B8E28203BBBF1F6593" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Impaired Loans With No Specific Allowance Carrying Value </link:label>

<link:label id="lab_cit_ImpairedLoansWithNoSpecificAllowanceCarryingValue_EFC528D8878113B8E28203BBBF1F6593_documentation_en-US" xlink:label="lab_cit_ImpairedLoansWithNoSpecificAllowanceCarryingValue_EFC528D8878113B8E28203BBBF1F6593" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Impaired Loans With No Specific Allowance Carrying Value </link:label>

<link:loc xlink:href="cit-20180331.xsd#cit_ImpairedLoansWithNoSpecificAllowanceCarryingValue" xlink:label="loc_cit_ImpairedLoansWithNoSpecificAllowanceCarryingValue_EFC528D8878113B8E28203BBBF1F6593" xlink:type="locator"/>

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<link:label id="lab_us-gaap_UnsecuredDebt_DD3C5685FAC776C1C64603BBBF1F2390_terseLabel_en-US" xlink:label="lab_us-gaap_UnsecuredDebt_DD3C5685FAC776C1C64603BBBF1F2390" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Unsecured borrowings </link:label>

<link:label id="lab_us-gaap_UnsecuredDebt_DD3C5685FAC776C1C64603BBBF1F2390_label_en-US" xlink:label="lab_us-gaap_UnsecuredDebt_DD3C5685FAC776C1C64603BBBF1F2390" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Unsecured Debt </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_UnsecuredDebt" xlink:label="loc_us-gaap_UnsecuredDebt_DD3C5685FAC776C1C64603BBBF1F2390" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_UnsecuredDebt_DD3C5685FAC776C1C64603BBBF1F2390" xlink:to="lab_us-gaap_UnsecuredDebt_DD3C5685FAC776C1C64603BBBF1F2390" xlink:type="arc"/>

<link:label id="lab_cit_FinanceReceivablesNonAccrualStatusByTypeOfHoldingTable_B733C296113325EEE87721FAC220C728_terseLabel_en-US" xlink:label="lab_cit_FinanceReceivablesNonAccrualStatusByTypeOfHoldingTable_B733C296113325EEE87721FAC220C728" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Finance Receivables Non Accrual Status By Type Of Holding [Table] </link:label>

<link:label id="lab_cit_FinanceReceivablesNonAccrualStatusByTypeOfHoldingTable_B733C296113325EEE87721FAC220C728_label_en-US" xlink:label="lab_cit_FinanceReceivablesNonAccrualStatusByTypeOfHoldingTable_B733C296113325EEE87721FAC220C728" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Finance Receivables Non Accrual Status By Type Of Holding [Table] </link:label>

<link:label id="lab_cit_FinanceReceivablesNonAccrualStatusByTypeOfHoldingTable_B733C296113325EEE87721FAC220C728_documentation_en-US" xlink:label="lab_cit_FinanceReceivablesNonAccrualStatusByTypeOfHoldingTable_B733C296113325EEE87721FAC220C728" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Finance Receivables Non Accrual Status By Type Of Holding [Table] </link:label>

<link:loc xlink:href="cit-20180331.xsd#cit_FinanceReceivablesNonAccrualStatusByTypeOfHoldingTable" xlink:label="loc_cit_FinanceReceivablesNonAccrualStatusByTypeOfHoldingTable_B733C296113325EEE87721FAC220C728" xlink:type="locator"/>

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<link:label id="lab_cit_HeldForInvestmentMember_C203AFEE9DC934239EA921FAC2205FA1_terseLabel_en-US" xlink:label="lab_cit_HeldForInvestmentMember_C203AFEE9DC934239EA921FAC2205FA1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Held for Investment </link:label>

<link:label id="lab_cit_HeldForInvestmentMember_C203AFEE9DC934239EA921FAC2205FA1_label_en-US" xlink:label="lab_cit_HeldForInvestmentMember_C203AFEE9DC934239EA921FAC2205FA1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Held For Investment [Member] </link:label>

<link:label id="lab_cit_HeldForInvestmentMember_C203AFEE9DC934239EA921FAC2205FA1_documentation_en-US" xlink:label="lab_cit_HeldForInvestmentMember_C203AFEE9DC934239EA921FAC2205FA1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Held For Investment [Member] </link:label>

<link:loc xlink:href="cit-20180331.xsd#cit_HeldForInvestmentMember" xlink:label="loc_cit_HeldForInvestmentMember_C203AFEE9DC934239EA921FAC2205FA1" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cit_HeldForInvestmentMember_C203AFEE9DC934239EA921FAC2205FA1" xlink:to="lab_cit_HeldForInvestmentMember_C203AFEE9DC934239EA921FAC2205FA1" xlink:type="arc"/>

<link:label id="lab_cit_HeldForSaleMember_7C248F3988B50C70974821FAC22105C8_terseLabel_en-US" xlink:label="lab_cit_HeldForSaleMember_7C248F3988B50C70974821FAC22105C8" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Held for Sale </link:label>

<link:label id="lab_cit_HeldForSaleMember_7C248F3988B50C70974821FAC22105C8_label_en-US" xlink:label="lab_cit_HeldForSaleMember_7C248F3988B50C70974821FAC22105C8" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Held For Sale [Member] </link:label>

<link:label id="lab_cit_HeldForSaleMember_7C248F3988B50C70974821FAC22105C8_documentation_en-US" xlink:label="lab_cit_HeldForSaleMember_7C248F3988B50C70974821FAC22105C8" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Held For Sale [Member] </link:label>

<link:loc xlink:href="cit-20180331.xsd#cit_HeldForSaleMember" xlink:label="loc_cit_HeldForSaleMember_7C248F3988B50C70974821FAC22105C8" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cit_HeldForSaleMember_7C248F3988B50C70974821FAC22105C8" xlink:to="lab_cit_HeldForSaleMember_7C248F3988B50C70974821FAC22105C8" xlink:type="arc"/>

<link:label id="lab_cit_FinanceReceivablesNonAccrualStatusByTypeOfHoldingLineItems_26B54976772C3C4ACDAE21FAC2215B7D_terseLabel_en-US" xlink:label="lab_cit_FinanceReceivablesNonAccrualStatusByTypeOfHoldingLineItems_26B54976772C3C4ACDAE21FAC2215B7D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Finance Receivables Non Accrual Status By Type Of Holding [Line Items] </link:label>

<link:label id="lab_cit_FinanceReceivablesNonAccrualStatusByTypeOfHoldingLineItems_26B54976772C3C4ACDAE21FAC2215B7D_label_en-US" xlink:label="lab_cit_FinanceReceivablesNonAccrualStatusByTypeOfHoldingLineItems_26B54976772C3C4ACDAE21FAC2215B7D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Finance Receivables Non Accrual Status By Type Of Holding [Line Items] </link:label>

<link:label id="lab_cit_FinanceReceivablesNonAccrualStatusByTypeOfHoldingLineItems_26B54976772C3C4ACDAE21FAC2215B7D_documentation_en-US" xlink:label="lab_cit_FinanceReceivablesNonAccrualStatusByTypeOfHoldingLineItems_26B54976772C3C4ACDAE21FAC2215B7D" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Finance Receivables Non Accrual Status By Type Of Holding [Line Items] </link:label>

<link:loc xlink:href="cit-20180331.xsd#cit_FinanceReceivablesNonAccrualStatusByTypeOfHoldingLineItems" xlink:label="loc_cit_FinanceReceivablesNonAccrualStatusByTypeOfHoldingLineItems_26B54976772C3C4ACDAE21FAC2215B7D" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cit_FinanceReceivablesNonAccrualStatusByTypeOfHoldingLineItems_26B54976772C3C4ACDAE21FAC2215B7D" xlink:to="lab_cit_FinanceReceivablesNonAccrualStatusByTypeOfHoldingLineItems_26B54976772C3C4ACDAE21FAC2215B7D" xlink:type="arc"/>

<link:label id="lab_us-gaap_FinancingReceivableRecordedInvestmentNonaccrualStatus_91B94B854421CDA0E97521FAC221DFB1_terseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableRecordedInvestmentNonaccrualStatus_91B94B854421CDA0E97521FAC221DFB1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Total non-accrual loans </link:label>

<link:label id="lab_us-gaap_FinancingReceivableRecordedInvestmentNonaccrualStatus_91B94B854421CDA0E97521FAC221DFB1_label_en-US" xlink:label="lab_us-gaap_FinancingReceivableRecordedInvestmentNonaccrualStatus_91B94B854421CDA0E97521FAC221DFB1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Financing Receivable, Recorded Investment, Nonaccrual Status </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_FinancingReceivableRecordedInvestmentNonaccrualStatus" xlink:label="loc_us-gaap_FinancingReceivableRecordedInvestmentNonaccrualStatus_91B94B854421CDA0E97521FAC221DFB1" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinancingReceivableRecordedInvestmentNonaccrualStatus_91B94B854421CDA0E97521FAC221DFB1" xlink:to="lab_us-gaap_FinancingReceivableRecordedInvestmentNonaccrualStatus_91B94B854421CDA0E97521FAC221DFB1" xlink:type="arc"/>

<link:label id="lab_us-gaap_ForeclosedAssets_8EBE1FCA4ADF9C6A3A1421FAC221233B_terseLabel_en-US" xlink:label="lab_us-gaap_ForeclosedAssets_8EBE1FCA4ADF9C6A3A1421FAC221233B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Repossessed assets and OREO </link:label>

<link:label id="lab_us-gaap_ForeclosedAssets_8EBE1FCA4ADF9C6A3A1421FAC221233B_label_en-US" xlink:label="lab_us-gaap_ForeclosedAssets_8EBE1FCA4ADF9C6A3A1421FAC221233B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Repossessed Assets </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ForeclosedAssets" xlink:label="loc_us-gaap_ForeclosedAssets_8EBE1FCA4ADF9C6A3A1421FAC221233B" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ForeclosedAssets_8EBE1FCA4ADF9C6A3A1421FAC221233B" xlink:to="lab_us-gaap_ForeclosedAssets_8EBE1FCA4ADF9C6A3A1421FAC221233B" xlink:type="arc"/>

<link:label id="lab_cit_TotalNonPerformingAssets_62E2191AD777A18C5B2D21FAC2219EDE_totalLabel_en-US" xlink:label="lab_cit_TotalNonPerformingAssets_62E2191AD777A18C5B2D21FAC2219EDE" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US"> Total non-performing assets </link:label>

<link:label id="lab_cit_TotalNonPerformingAssets_62E2191AD777A18C5B2D21FAC2219EDE_label_en-US" xlink:label="lab_cit_TotalNonPerformingAssets_62E2191AD777A18C5B2D21FAC2219EDE" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Total Non-Performing Assets </link:label>

<link:label id="lab_cit_TotalNonPerformingAssets_62E2191AD777A18C5B2D21FAC2219EDE_documentation_en-US" xlink:label="lab_cit_TotalNonPerformingAssets_62E2191AD777A18C5B2D21FAC2219EDE" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Total Non-Performing Assets </link:label>

<link:loc xlink:href="cit-20180331.xsd#cit_TotalNonPerformingAssets" xlink:label="loc_cit_TotalNonPerformingAssets_62E2191AD777A18C5B2D21FAC2219EDE" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cit_TotalNonPerformingAssets_62E2191AD777A18C5B2D21FAC2219EDE" xlink:to="lab_cit_TotalNonPerformingAssets_62E2191AD777A18C5B2D21FAC2219EDE" xlink:type="arc"/>

<link:label id="lab_us-gaap_FinancingReceivableRecordedInvestment90DaysPastDueAndStillAccruing_0989F27606847A0D66E321FAC22159F0_terseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableRecordedInvestment90DaysPastDueAndStillAccruing_0989F27606847A0D66E321FAC22159F0" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Total Accruing loans past due 90 days or more </link:label>

<link:label id="lab_us-gaap_FinancingReceivableRecordedInvestment90DaysPastDueAndStillAccruing_0989F27606847A0D66E321FAC22159F0_label_en-US" xlink:label="lab_us-gaap_FinancingReceivableRecordedInvestment90DaysPastDueAndStillAccruing_0989F27606847A0D66E321FAC22159F0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_FinancingReceivableRecordedInvestment90DaysPastDueAndStillAccruing" xlink:label="loc_us-gaap_FinancingReceivableRecordedInvestment90DaysPastDueAndStillAccruing_0989F27606847A0D66E321FAC22159F0" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinancingReceivableRecordedInvestment90DaysPastDueAndStillAccruing_0989F27606847A0D66E321FAC22159F0" xlink:to="lab_us-gaap_FinancingReceivableRecordedInvestment90DaysPastDueAndStillAccruing_0989F27606847A0D66E321FAC22159F0" xlink:type="arc"/>

<link:label id="lab_us-gaap_AvailableForSaleSecuritiesContinuousUnrealizedLossPositionLessThanTwelveMonthsFairValue_4E66564D89ED9D61F083024AD3F09D87_verboseLabel_en-US" xlink:label="lab_us-gaap_AvailableForSaleSecuritiesContinuousUnrealizedLossPositionLessThanTwelveMonthsFairValue_4E66564D89ED9D61F083024AD3F09D87" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Total securities available-for-sale, Less than 12 months, Fair Value </link:label>

<link:label id="lab_us-gaap_AvailableForSaleSecuritiesContinuousUnrealizedLossPositionLessThanTwelveMonthsFairValue_4E66564D89ED9D61F083024AD3F09D87_label_en-US" xlink:label="lab_us-gaap_AvailableForSaleSecuritiesContinuousUnrealizedLossPositionLessThanTwelveMonthsFairValue_4E66564D89ED9D61F083024AD3F09D87" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_AvailableForSaleSecuritiesContinuousUnrealizedLossPositionLessThanTwelveMonthsFairValue" xlink:label="loc_us-gaap_AvailableForSaleSecuritiesContinuousUnrealizedLossPositionLessThanTwelveMonthsFairValue_4E66564D89ED9D61F083024AD3F09D87" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AvailableForSaleSecuritiesContinuousUnrealizedLossPositionLessThanTwelveMonthsFairValue_4E66564D89ED9D61F083024AD3F09D87" xlink:to="lab_us-gaap_AvailableForSaleSecuritiesContinuousUnrealizedLossPositionLessThanTwelveMonthsFairValue_4E66564D89ED9D61F083024AD3F09D87" xlink:type="arc"/>

<link:label id="lab_us-gaap_AvailableForSaleSecuritiesContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss_06E931FBD07FB8E091C1024AD3F0B085_negatedLabel_en-US" xlink:label="lab_us-gaap_AvailableForSaleSecuritiesContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss_06E931FBD07FB8E091C1024AD3F0B085" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US"> Total securities available-for-sale, Less than 12 months, Gross Unrealized Loss </link:label>

<link:label id="lab_us-gaap_AvailableForSaleSecuritiesContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss_06E931FBD07FB8E091C1024AD3F0B085_label_en-US" xlink:label="lab_us-gaap_AvailableForSaleSecuritiesContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss_06E931FBD07FB8E091C1024AD3F0B085" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_AvailableForSaleSecuritiesContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss" xlink:label="loc_us-gaap_AvailableForSaleSecuritiesContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss_06E931FBD07FB8E091C1024AD3F0B085" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AvailableForSaleSecuritiesContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss_06E931FBD07FB8E091C1024AD3F0B085" xlink:to="lab_us-gaap_AvailableForSaleSecuritiesContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss_06E931FBD07FB8E091C1024AD3F0B085" xlink:type="arc"/>

<link:label id="lab_us-gaap_AvailableForSaleSecuritiesContinuousUnrealizedLossPositionTwelveMonthsOrLongerFairValue_8685FBAE3C14CB6E92A9024AD3F0AF40_verboseLabel_en-US" xlink:label="lab_us-gaap_AvailableForSaleSecuritiesContinuousUnrealizedLossPositionTwelveMonthsOrLongerFairValue_8685FBAE3C14CB6E92A9024AD3F0AF40" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Total securities available-for-sale, 12 months or greater, Fair Value </link:label>

<link:label id="lab_us-gaap_AvailableForSaleSecuritiesContinuousUnrealizedLossPositionTwelveMonthsOrLongerFairValue_8685FBAE3C14CB6E92A9024AD3F0AF40_label_en-US" xlink:label="lab_us-gaap_AvailableForSaleSecuritiesContinuousUnrealizedLossPositionTwelveMonthsOrLongerFairValue_8685FBAE3C14CB6E92A9024AD3F0AF40" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_AvailableForSaleSecuritiesContinuousUnrealizedLossPositionTwelveMonthsOrLongerFairValue" xlink:label="loc_us-gaap_AvailableForSaleSecuritiesContinuousUnrealizedLossPositionTwelveMonthsOrLongerFairValue_8685FBAE3C14CB6E92A9024AD3F0AF40" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AvailableForSaleSecuritiesContinuousUnrealizedLossPositionTwelveMonthsOrLongerFairValue_8685FBAE3C14CB6E92A9024AD3F0AF40" xlink:to="lab_us-gaap_AvailableForSaleSecuritiesContinuousUnrealizedLossPositionTwelveMonthsOrLongerFairValue_8685FBAE3C14CB6E92A9024AD3F0AF40" xlink:type="arc"/>

<link:label id="lab_us-gaap_AvailableForSaleSecuritiesContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss_A6F74B058FF977545477024AD3F0C676_negatedLabel_en-US" xlink:label="lab_us-gaap_AvailableForSaleSecuritiesContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss_A6F74B058FF977545477024AD3F0C676" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US"> Total securities available-for-sale, 12 months or greater, Gross Unrealized Loss </link:label>

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<link:label id="lab_us-gaap_TreasuryStockAcquiredAverageCostPerShare_4EEF1AC9C77FFCA87E700877591E8ABD_terseLabel_en-US" xlink:label="lab_us-gaap_TreasuryStockAcquiredAverageCostPerShare_4EEF1AC9C77FFCA87E700877591E8ABD" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Purchase price per share (in dollars per share) </link:label>

<link:label id="lab_us-gaap_TreasuryStockAcquiredAverageCostPerShare_4EEF1AC9C77FFCA87E700877591E8ABD_label_en-US" xlink:label="lab_us-gaap_TreasuryStockAcquiredAverageCostPerShare_4EEF1AC9C77FFCA87E700877591E8ABD" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Treasury Stock Acquired, Average Cost Per Share </link:label>

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<link:label id="lab_us-gaap_ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax_6A7455C858ECFED5CAD60877591E120E_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax_6A7455C858ECFED5CAD60877591E120E" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US"> Amounts reclassified from AOCI </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax" xlink:label="loc_us-gaap_ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax_6A7455C858ECFED5CAD60877591E120E" xlink:type="locator"/>

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<link:label id="lab_us-gaap_OtherComprehensiveIncomeLossTax_DD18BD6A5B5BB227EDAE0877591E4D12_terseLabel_en-US" xlink:label="lab_us-gaap_OtherComprehensiveIncomeLossTax_DD18BD6A5B5BB227EDAE0877591E4D12" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Other comprehensive income, tax </link:label>

<link:label id="lab_us-gaap_OtherComprehensiveIncomeLossTax_DD18BD6A5B5BB227EDAE0877591E4D12_label_en-US" xlink:label="lab_us-gaap_OtherComprehensiveIncomeLossTax_DD18BD6A5B5BB227EDAE0877591E4D12" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Other Comprehensive Income (Loss), Tax </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_OtherComprehensiveIncomeLossTax" xlink:label="loc_us-gaap_OtherComprehensiveIncomeLossTax_DD18BD6A5B5BB227EDAE0877591E4D12" xlink:type="locator"/>

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<link:label id="lab_us-gaap_StockholdersEquityNoteDisclosureTextBlock_A1014D30DFD383DFBDA4071F6F03FF5B_terseLabel_en-US" xlink:label="lab_us-gaap_StockholdersEquityNoteDisclosureTextBlock_5FB42739C20E5D47828028CE10645430" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> STOCKHOLDERS' EQUITY </link:label>

<link:label id="lab_us-gaap_StockholdersEquityNoteDisclosureTextBlock_A1014D30DFD383DFBDA4071F6F03FF5B_label_en-US" xlink:label="lab_us-gaap_StockholdersEquityNoteDisclosureTextBlock_5FB42739C20E5D47828028CE10645430" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Stockholders' Equity Note Disclosure [Text Block] </link:label>

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<link:label id="lab_us-gaap_AssetsAbstract_8B73B7FBF26DE417FF3D27BDCAD79BDF_terseLabel_en-US" xlink:label="lab_us-gaap_AssetsAbstract_8B73B7FBF26DE417FF3D27BDCAD79BDF" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Assets </link:label>

<link:label id="lab_us-gaap_AssetsAbstract_8B73B7FBF26DE417FF3D27BDCAD79BDF_label_en-US" xlink:label="lab_us-gaap_AssetsAbstract_8B73B7FBF26DE417FF3D27BDCAD79BDF" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Assets [Abstract] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_AssetsAbstract" xlink:label="loc_us-gaap_AssetsAbstract_8B73B7FBF26DE417FF3D27BDCAD79BDF" xlink:type="locator"/>

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<link:label id="lab_cit_CashAndDueFromBanksIncludingRestrictedCash_BFCD495E2D65EB5729BF27BDCAD7AD46_verboseLabel_en-US" xlink:label="lab_cit_CashAndDueFromBanksIncludingRestrictedCash_BFCD495E2D65EB5729BF27BDCAD7AD46" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Cash and due from banks, including restricted balances of $34.7 and $42.9 at March 31, 2018 and December 31, 2017(1), respectively (see Note 6 for amounts pledged) </link:label>

<link:loc xlink:href="cit-20180331.xsd#cit_CashAndDueFromBanksIncludingRestrictedCash" xlink:label="loc_cit_CashAndDueFromBanksIncludingRestrictedCash_BFCD495E2D65EB5729BF27BDCAD7AD46" xlink:type="locator"/>

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<link:label id="lab_us-gaap_InterestBearingDepositsInBanks_77EBB2111FCB4172408F27BDCAD7F021_terseLabel_en-US" xlink:label="lab_us-gaap_InterestBearingDepositsInBanks_77EBB2111FCB4172408F27BDCAD7F021" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Interest bearing deposits, including restricted balances of $82.3 and $81.8 at March 31, 2018 and December 31, 2017(1), respectively (see Note 6 for amounts pledged) </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_InterestBearingDepositsInBanks" xlink:label="loc_us-gaap_InterestBearingDepositsInBanks_77EBB2111FCB4172408F27BDCAD7F021" xlink:type="locator"/>

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<link:label id="lab_us-gaap_SecuritiesPurchasedUnderAgreementsToResell_0B6A9582825B18A5A16E27BDCAD80C57_terseLabel_en-US" xlink:label="lab_us-gaap_SecuritiesPurchasedUnderAgreementsToResell_0B6A9582825B18A5A16E27BDCAD80C57" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Securities purchased under agreement to resell </link:label>

<link:label id="lab_us-gaap_SecuritiesPurchasedUnderAgreementsToResell_0B6A9582825B18A5A16E27BDCAD80C57_label_en-US" xlink:label="lab_us-gaap_SecuritiesPurchasedUnderAgreementsToResell_0B6A9582825B18A5A16E27BDCAD80C57" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Securities Purchased under Agreements to Resell </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_SecuritiesPurchasedUnderAgreementsToResell" xlink:label="loc_us-gaap_SecuritiesPurchasedUnderAgreementsToResell_0B6A9582825B18A5A16E27BDCAD80C57" xlink:type="locator"/>

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<link:label id="lab_us-gaap_RestrictedCashAndCashEquivalents_8DC5A3AE65D75A12CC2427BDCAD8D7F7_terseLabel_en-US" xlink:label="lab_us-gaap_RestrictedCashAndCashEquivalents_8DC5A3AE65D75A12CC2427BDCAD8D7F7" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Cash and interest bearing deposits, restricted </link:label>

<link:label id="lab_us-gaap_RestrictedCashAndCashEquivalents_8DC5A3AE65D75A12CC2427BDCAD8D7F7_label_en-US" xlink:label="lab_us-gaap_RestrictedCashAndCashEquivalents_8DC5A3AE65D75A12CC2427BDCAD8D7F7" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Restricted Cash and Cash Equivalents </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_RestrictedCashAndCashEquivalents" xlink:label="loc_us-gaap_RestrictedCashAndCashEquivalents_8DC5A3AE65D75A12CC2427BDCAD8D7F7" xlink:type="locator"/>

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<link:label id="lab_us-gaap_Investments_5F50B68E21CFB03BECE627BDCAD80AF3_verboseLabel_en-US" xlink:label="lab_us-gaap_Investments_5F50B68E21CFB03BECE627BDCAD80AF3" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Investment securities, including securities carried at fair value with changes recorded in net income of $44.1 at March 31, 2018 and $0.4 at December 31, 2017 (see Note 6 for amounts pledged) </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_Investments" xlink:label="loc_us-gaap_Investments_5F50B68E21CFB03BECE627BDCAD80AF3" xlink:type="locator"/>

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<link:label id="lab_us-gaap_LoansAndLeasesReceivableNetOfDeferredIncome_C9BD67BE58E333A08E8627BDCAD8EF78_netLabel_en-US" xlink:label="lab_us-gaap_LoansAndLeasesReceivableNetOfDeferredIncome_C9BD67BE58E333A08E8627BDCAD8EF78" xlink:role="http://www.xbrl.org/2009/role/netLabel" xlink:type="resource" xml:lang="en-US"> Loans (see Note 6 for amounts pledged) </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_LoansAndLeasesReceivableNetOfDeferredIncome" xlink:label="loc_us-gaap_LoansAndLeasesReceivableNetOfDeferredIncome_C9BD67BE58E333A08E8627BDCAD8EF78" xlink:type="locator"/>

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<link:label id="lab_us-gaap_LoansAndLeasesReceivableAllowance_3FD8F5F27C47D2B4FA2627BDCAD8F34A_negatedLabel_en-US" xlink:label="lab_us-gaap_LoansAndLeasesReceivableAllowance_3FD8F5F27C47D2B4FA2627BDCAD8F34A" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US"> Allowance for loan losses </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_LoansAndLeasesReceivableAllowance" xlink:label="loc_us-gaap_LoansAndLeasesReceivableAllowance_3FD8F5F27C47D2B4FA2627BDCAD8F34A" xlink:type="locator"/>

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<link:label id="lab_us-gaap_LoansAndLeasesReceivableNetReportedAmount_1187470BF3787D2097B727BDCAD840B6_totalLabel_en-US" xlink:label="lab_us-gaap_LoansAndLeasesReceivableNetReportedAmount_1187470BF3787D2097B727BDCAD840B6" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US"> Total loans, net of allowance for loan losses </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_LoansAndLeasesReceivableNetReportedAmount" xlink:label="loc_us-gaap_LoansAndLeasesReceivableNetReportedAmount_1187470BF3787D2097B727BDCAD840B6" xlink:type="locator"/>

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<link:label id="lab_us-gaap_PropertySubjectToOrAvailableForOperatingLeaseNet_45CADD4CB23B26041E9927BDCAD8C7A6_verboseLabel_en-US" xlink:label="lab_us-gaap_PropertySubjectToOrAvailableForOperatingLeaseNet_45CADD4CB23B26041E9927BDCAD8C7A6" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Operating lease equipment, net </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_PropertySubjectToOrAvailableForOperatingLeaseNet" xlink:label="loc_us-gaap_PropertySubjectToOrAvailableForOperatingLeaseNet_45CADD4CB23B26041E9927BDCAD8C7A6" xlink:type="locator"/>

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<link:label id="lab_us-gaap_BankOwnedLifeInsurance_6B52EDB5163BE803378B27BDCAD83021_terseLabel_en-US" xlink:label="lab_us-gaap_BankOwnedLifeInsurance_6B52EDB5163BE803378B27BDCAD83021" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Bank-owned life insurance </link:label>

<link:label id="lab_us-gaap_BankOwnedLifeInsurance_6B52EDB5163BE803378B27BDCAD83021_label_en-US" xlink:label="lab_us-gaap_BankOwnedLifeInsurance_6B52EDB5163BE803378B27BDCAD83021" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Bank Owned Life Insurance </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_BankOwnedLifeInsurance" xlink:label="loc_us-gaap_BankOwnedLifeInsurance_6B52EDB5163BE803378B27BDCAD83021" xlink:type="locator"/>

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<link:label id="lab_us-gaap_Goodwill_19C248CE839D37FF0D4A27BDCAD882FD_terseLabel_en-US" xlink:label="lab_us-gaap_Goodwill_19C248CE839D37FF0D4A27BDCAD882FD" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Goodwill </link:label>

<link:label id="lab_us-gaap_Goodwill_19C248CE839D37FF0D4A27BDCAD882FD_label_en-US" xlink:label="lab_us-gaap_Goodwill_19C248CE839D37FF0D4A27BDCAD882FD" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Goodwill </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_Goodwill" xlink:label="loc_us-gaap_Goodwill_19C248CE839D37FF0D4A27BDCAD882FD" xlink:type="locator"/>

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<link:label id="lab_us-gaap_OtherAssets_E9B971340B36D9AF586827BDCAD8941E_terseLabel_en-US" xlink:label="lab_us-gaap_OtherAssets_E9B971340B36D9AF586827BDCAD8941E" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Other assets, including $118.7 and $68.7 at March 31, 2018 and December 31, 2017, respectively, at fair value </link:label>

<link:label id="lab_us-gaap_OtherAssets_E9B971340B36D9AF586827BDCAD8941E_label_en-US" xlink:label="lab_us-gaap_OtherAssets_E9B971340B36D9AF586827BDCAD8941E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Other Assets </link:label>

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<link:label id="lab_us-gaap_LiabilitiesAbstract_D3F6465ECBBD053767CD27BDCAD8EDD4_label_en-US" xlink:label="lab_us-gaap_LiabilitiesAbstract_D3F6465ECBBD053767CD27BDCAD8EDD4" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Liabilities [Abstract] </link:label>

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<link:label id="lab_us-gaap_OtherLiabilities_A1678ADA9427F9851A3E27BDCAD83190_terseLabel_en-US" xlink:label="lab_us-gaap_OtherLiabilities_A1678ADA9427F9851A3E27BDCAD83190" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Other liabilities, including $215.4 and $198.1 at March 31, 2018 and December 31, 2017, respectively, at fair value </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_OtherLiabilities" xlink:label="loc_us-gaap_OtherLiabilities_A1678ADA9427F9851A3E27BDCAD83190" xlink:type="locator"/>

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<link:label id="lab_us-gaap_LongTermDebt_DB5A886498D06079B26627BDCAD86828_netLabel_en-US" xlink:label="lab_us-gaap_LongTermDebt_DB5A886498D06079B26627BDCAD86828" xlink:role="http://www.xbrl.org/2009/role/netLabel" xlink:type="resource" xml:lang="en-US"> Borrowings, including $1,875.0 and $1,626.3 contractually due within twelve months at March 31, 2018 and December 31, 2017, respectively </link:label>

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<link:label id="lab_us-gaap_BeneficialInterest_2524FD691D4FD98E317527BDCAD93E4E_terseLabel_en-US" xlink:label="lab_us-gaap_BeneficialInterest_2524FD691D4FD98E317527BDCAD93E4E" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Beneficial interests issued by consolidated VIEs (classified as long-term borrowings) </link:label>

<link:label id="lab_us-gaap_BeneficialInterest_2524FD691D4FD98E317527BDCAD93E4E_label_en-US" xlink:label="lab_us-gaap_BeneficialInterest_2524FD691D4FD98E317527BDCAD93E4E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Beneficial Interest Liability </link:label>

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<link:label id="lab_us-gaap_Liabilities_A08407F690DE5669A73C27BDCAD981C6_label_en-US" xlink:label="lab_us-gaap_Liabilities_A08407F690DE5669A73C27BDCAD981C6" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Liabilities </link:label>

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<link:label id="lab_us-gaap_StockholdersEquityAbstract_B4AE8126B5D59525C03A27BDCAD99716_terseLabel_en-US" xlink:label="lab_us-gaap_StockholdersEquityAbstract_B4AE8126B5D59525C03A27BDCAD99716" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Stockholders’ Equity </link:label>

<link:label id="lab_us-gaap_StockholdersEquityAbstract_B4AE8126B5D59525C03A27BDCAD99716_label_en-US" xlink:label="lab_us-gaap_StockholdersEquityAbstract_B4AE8126B5D59525C03A27BDCAD99716" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Stockholders' Equity Attributable to Parent [Abstract] </link:label>

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<link:label id="lab_us-gaap_PreferredStockValue_93E82D202E4E7BB4AF1D27BDCAD9ECCF_terseLabel_en-US" xlink:label="lab_us-gaap_PreferredStockValue_93E82D202E4E7BB4AF1D27BDCAD9ECCF" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Preferred Stock: $0.01 par value, 100,000,000 authorized, 325,000 shares issued and outstanding </link:label>

<link:label id="lab_us-gaap_PreferredStockValue_93E82D202E4E7BB4AF1D27BDCAD9ECCF_label_en-US" xlink:label="lab_us-gaap_PreferredStockValue_93E82D202E4E7BB4AF1D27BDCAD9ECCF" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Preferred Stock, Value, Issued </link:label>

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<link:label id="lab_us-gaap_CommonStockValue_AF9DDF43197964D6469D27BDCAD93996_label_en-US" xlink:label="lab_us-gaap_CommonStockValue_AF9DDF43197964D6469D27BDCAD93996" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Common Stock, Value, Issued </link:label>

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<link:label id="lab_us-gaap_AdditionalPaidInCapital_3E6D9F4BAFAB79A219DD27BDCAD99EBC_terseLabel_en-US" xlink:label="lab_us-gaap_AdditionalPaidInCapital_3E6D9F4BAFAB79A219DD27BDCAD99EBC" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Paid-in capital </link:label>

<link:label id="lab_us-gaap_AdditionalPaidInCapital_3E6D9F4BAFAB79A219DD27BDCAD99EBC_label_en-US" xlink:label="lab_us-gaap_AdditionalPaidInCapital_3E6D9F4BAFAB79A219DD27BDCAD99EBC" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Additional Paid in Capital </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_AdditionalPaidInCapital" xlink:label="loc_us-gaap_AdditionalPaidInCapital_3E6D9F4BAFAB79A219DD27BDCAD99EBC" xlink:type="locator"/>

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<link:label id="lab_us-gaap_RetainedEarningsAccumulatedDeficit_E3138F035BDC8A18C8CA27BDCAD9DE4C_label_en-US" xlink:label="lab_us-gaap_RetainedEarningsAccumulatedDeficit_E3138F035BDC8A18C8CA27BDCAD9DE4C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Retained Earnings (Accumulated Deficit) </link:label>

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<link:label id="lab_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax_2FB37794C274BEF8A54827BDCAD91C74_label_en-US" xlink:label="lab_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax_2FB37794C274BEF8A54827BDCAD91C74" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Accumulated Other Comprehensive Income (Loss), Net of Tax </link:label>

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<link:label id="lab_us-gaap_TreasuryStockValue_515F72F47BDB9C8ACF4227BDCAD9529B_negatedLabel_en-US" xlink:label="lab_us-gaap_TreasuryStockValue_515F72F47BDB9C8ACF4227BDCAD9529B" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US"> Treasury stock: 80,412,114 and 76,275,567 shares at March 31, 2018 and December 31, 2017 at cost, respectively </link:label>

<link:label id="lab_us-gaap_TreasuryStockValue_515F72F47BDB9C8ACF4227BDCAD9529B_label_en-US" xlink:label="lab_us-gaap_TreasuryStockValue_515F72F47BDB9C8ACF4227BDCAD9529B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Treasury Stock, Value </link:label>

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<link:label id="lab_cit_CommonStockholdersEquityAttributabletoParent_6463D45B14E3204E400427BDCAD97997_totalLabel_en-US" xlink:label="lab_cit_CommonStockholdersEquityAttributabletoParent_6463D45B14E3204E400427BDCAD97997" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US"> Total Common Stockholders’ Equity </link:label>

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<link:label id="lab_us-gaap_MarketableSecuritiesTextBlock_ED9A40C4177EE3C88E99FE390D97ECC2_label_en-US" xlink:label="lab_us-gaap_MarketableSecuritiesTextBlock_ED9A40C4177EE3C88E99FE390D97ECC2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Marketable Securities [Table Text Block] </link:label>

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<link:label id="lab_us-gaap_AvailableForSaleSecuritiesTextBlock_0D538FD9A643BFE6239AFE390DB639B2_label_en-US" xlink:label="lab_us-gaap_AvailableForSaleSecuritiesTextBlock_0D538FD9A643BFE6239AFE390DB639B2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Available-for-sale Securities [Table Text Block] </link:label>

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<link:label id="lab_us-gaap_InvestmentsClassifiedByContractualMaturityDateTableTextBlock_572D887372D051A649EDFE390DBDACA2_terseLabel_en-US" xlink:label="lab_us-gaap_InvestmentsClassifiedByContractualMaturityDateTableTextBlock_572D887372D051A649EDFE390DBDACA2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Amortized Cost And Fair Value Of Debt Securities By Contractual Maturity Dates </link:label>

<link:label id="lab_us-gaap_InvestmentsClassifiedByContractualMaturityDateTableTextBlock_572D887372D051A649EDFE390DBDACA2_label_en-US" xlink:label="lab_us-gaap_InvestmentsClassifiedByContractualMaturityDateTableTextBlock_572D887372D051A649EDFE390DBDACA2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Investments Classified by Contractual Maturity Date [Table Text Block] </link:label>

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<link:label id="lab_us-gaap_UnrealizedGainLossOnInvestmentsTableTextBlock_62FAA728AD61975EF2E9FE390DC4B9AE_verboseLabel_en-US" xlink:label="lab_us-gaap_UnrealizedGainLossOnInvestmentsTableTextBlock_62FAA728AD61975EF2E9FE390DC4B9AE" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Schedule Of Debt Securities AFS - Estimated Unrealized Losses </link:label>

<link:label id="lab_us-gaap_UnrealizedGainLossOnInvestmentsTableTextBlock_62FAA728AD61975EF2E9FE390DC4B9AE_label_en-US" xlink:label="lab_us-gaap_UnrealizedGainLossOnInvestmentsTableTextBlock_62FAA728AD61975EF2E9FE390DC4B9AE" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Unrealized Gain (Loss) on Investments [Table Text Block] </link:label>

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<link:label id="lab_cit_FivePointThreeSevenFivePercentSeniorUnsecuredDebtDueMayTwentyTwentyMember_6AE92D82FD06101C236F02A9882AF87A_terseLabel_en-US" xlink:label="lab_cit_FivePointThreeSevenFivePercentSeniorUnsecuredDebtDueMayTwentyTwentyMember_6AE92D82FD06101C236F02A9882AF87A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> 5.375% Senior Unsecured Notes Due May 2020 </link:label>

<link:label id="lab_cit_FivePointThreeSevenFivePercentSeniorUnsecuredDebtDueMayTwentyTwentyMember_6AE92D82FD06101C236F02A9882AF87A_label_en-US" xlink:label="lab_cit_FivePointThreeSevenFivePercentSeniorUnsecuredDebtDueMayTwentyTwentyMember_6AE92D82FD06101C236F02A9882AF87A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Five Point Three Seven Five Percent Senior Unsecured Debt Due May Twenty Twenty [Member] </link:label>

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<link:label id="lab_cit_FivePointFiveZeroZeroPercentSeniorUnsecuredDebtDueAugustTwentyTwentyTwoMember_EF87AF86D39EF889EEEA02AAC569550E_terseLabel_en-US" xlink:label="lab_cit_FivePointFiveZeroZeroPercentSeniorUnsecuredDebtDueAugustTwentyTwentyTwoMember_EF87AF86D39EF889EEEA02AAC569550E" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> 5.000% Senior Unsecured Notes Due August 2022 </link:label>

<link:label id="lab_cit_FivePointFiveZeroZeroPercentSeniorUnsecuredDebtDueAugustTwentyTwentyTwoMember_EF87AF86D39EF889EEEA02AAC569550E_label_en-US" xlink:label="lab_cit_FivePointFiveZeroZeroPercentSeniorUnsecuredDebtDueAugustTwentyTwentyTwoMember_EF87AF86D39EF889EEEA02AAC569550E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Five Point Five Zero Zero Percent Senior Unsecured Debt Due August Twenty Twenty Two [Member] </link:label>

<link:label id="lab_cit_FivePointFiveZeroZeroPercentSeniorUnsecuredDebtDueAugustTwentyTwentyTwoMember_EF87AF86D39EF889EEEA02AAC569550E_documentation_en-US" xlink:label="lab_cit_FivePointFiveZeroZeroPercentSeniorUnsecuredDebtDueAugustTwentyTwentyTwoMember_EF87AF86D39EF889EEEA02AAC569550E" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Five Point Five Zero Zero Percent Senior Unsecured Debt Due August Twenty Twenty Two [Member] </link:label>

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<link:label id="lab_cit_FivePointFiveZeroZeroPercentSeniorUnsecuredDebtDueAugustTwentyTwentyThreeMember_DEE8B4DE23705CD8A16E02AB40FA24E3_terseLabel_en-US" xlink:label="lab_cit_FivePointFiveZeroZeroPercentSeniorUnsecuredDebtDueAugustTwentyTwentyThreeMember_DEE8B4DE23705CD8A16E02AB40FA24E3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> 5.000% Senior Unsecured Notes Due August 2023 </link:label>

<link:label id="lab_cit_FivePointFiveZeroZeroPercentSeniorUnsecuredDebtDueAugustTwentyTwentyThreeMember_DEE8B4DE23705CD8A16E02AB40FA24E3_label_en-US" xlink:label="lab_cit_FivePointFiveZeroZeroPercentSeniorUnsecuredDebtDueAugustTwentyTwentyThreeMember_DEE8B4DE23705CD8A16E02AB40FA24E3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Five Point Five Zero Zero Percent Senior Unsecured Debt Due August Twenty Twenty Three [Member] </link:label>

<link:label id="lab_cit_FivePointFiveZeroZeroPercentSeniorUnsecuredDebtDueAugustTwentyTwentyThreeMember_DEE8B4DE23705CD8A16E02AB40FA24E3_documentation_en-US" xlink:label="lab_cit_FivePointFiveZeroZeroPercentSeniorUnsecuredDebtDueAugustTwentyTwentyThreeMember_DEE8B4DE23705CD8A16E02AB40FA24E3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Five Point Five Zero Zero Percent Senior Unsecured Debt Due August Twenty Twenty Three [Member] </link:label>

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<link:label id="lab_cit_FivePointTwoFiveZeroPercentSeniorUnsecuredDebtDueMarchTwentyEighteenMember_16DC000079049F15D9F702ABE0040A10_terseLabel_en-US" xlink:label="lab_cit_FivePointTwoFiveZeroPercentSeniorUnsecuredDebtDueMarchTwentyEighteenMember_16DC000079049F15D9F702ABE0040A10" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> 5.250% Senior Unsecured Notes Due March 2025 </link:label>

<link:label id="lab_cit_FivePointTwoFiveZeroPercentSeniorUnsecuredDebtDueMarchTwentyEighteenMember_16DC000079049F15D9F702ABE0040A10_label_en-US" xlink:label="lab_cit_FivePointTwoFiveZeroPercentSeniorUnsecuredDebtDueMarchTwentyEighteenMember_16DC000079049F15D9F702ABE0040A10" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Five Point Two Five Zero Percent Senior Unsecured Debt Due March Twenty Eighteen [Member] </link:label>

<link:label id="lab_cit_FivePointTwoFiveZeroPercentSeniorUnsecuredDebtDueMarchTwentyEighteenMember_16DC000079049F15D9F702ABE0040A10_documentation_en-US" xlink:label="lab_cit_FivePointTwoFiveZeroPercentSeniorUnsecuredDebtDueMarchTwentyEighteenMember_16DC000079049F15D9F702ABE0040A10" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Five Point Two Five Zero Percent Senior Unsecured Debt Due March Twenty Eighteen [Member] </link:label>

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<link:label id="lab_us-gaap_DebtInstrumentInterestRateStatedPercentage_D7AD7F4D5869B25D5BBE027A4907AFBA_terseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentInterestRateStatedPercentage_D7AD7F4D5869B25D5BBE027A4907AFBA" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Rate (%) </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_DebtInstrumentInterestRateStatedPercentage" xlink:label="loc_us-gaap_DebtInstrumentInterestRateStatedPercentage_D7AD7F4D5869B25D5BBE027A4907AFBA" xlink:type="locator"/>

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<link:label id="lab_us-gaap_DebtInstrumentFaceAmount_FCE4530A2FEE6E3432EB027A4907D7B5_verboseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentFaceAmount_FCE4530A2FEE6E3432EB027A4907D7B5" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Par Value </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_DebtInstrumentFaceAmount" xlink:label="loc_us-gaap_DebtInstrumentFaceAmount_FCE4530A2FEE6E3432EB027A4907D7B5" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentFaceAmount_FCE4530A2FEE6E3432EB027A4907D7B5" xlink:to="lab_us-gaap_DebtInstrumentFaceAmount_FCE4530A2FEE6E3432EB027A4907D7B5" xlink:type="arc"/>

<link:label id="lab_us-gaap_DebtWeightedAverageInterestRate_B07A3BF288E5F07E8A81027A49077600_terseLabel_en-US" xlink:label="lab_us-gaap_DebtWeightedAverageInterestRate_B07A3BF288E5F07E8A81027A49077600" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Weighted Average Rate (%) </link:label>

<link:label id="lab_us-gaap_DebtWeightedAverageInterestRate_B07A3BF288E5F07E8A81027A49077600_label_en-US" xlink:label="lab_us-gaap_DebtWeightedAverageInterestRate_B07A3BF288E5F07E8A81027A49077600" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Debt, Weighted Average Interest Rate </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_DebtWeightedAverageInterestRate" xlink:label="loc_us-gaap_DebtWeightedAverageInterestRate_B07A3BF288E5F07E8A81027A49077600" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtWeightedAverageInterestRate_B07A3BF288E5F07E8A81027A49077600" xlink:to="lab_us-gaap_DebtWeightedAverageInterestRate_B07A3BF288E5F07E8A81027A49077600" xlink:type="arc"/>

<link:label id="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearAmortizedCost_4450D9ECE5071EE0CA7C08770850EDC2_terseLabel_en-US" xlink:label="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearAmortizedCost_4450D9ECE5071EE0CA7C08770850EDC2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Due within 1 year, Amortized Cost </link:label>

<link:label id="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearAmortizedCost_4450D9ECE5071EE0CA7C08770850EDC2_label_en-US" xlink:label="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearAmortizedCost_4450D9ECE5071EE0CA7C08770850EDC2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Available-for-sale Securities, Debt Maturities, Next Twelve Months, Amortized Cost Basis </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearAmortizedCost" xlink:label="loc_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearAmortizedCost_4450D9ECE5071EE0CA7C08770850EDC2" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearAmortizedCost_4450D9ECE5071EE0CA7C08770850EDC2" xlink:to="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearAmortizedCost_4450D9ECE5071EE0CA7C08770850EDC2" xlink:type="arc"/>

<link:label id="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsAmortizedCost_B4658E912EF05349AB58087708505263_verboseLabel_en-US" xlink:label="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsAmortizedCost_B4658E912EF05349AB58087708505263" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> After 1 but within 5 years, Amortized Cost </link:label>

<link:label id="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsAmortizedCost_B4658E912EF05349AB58087708505263_label_en-US" xlink:label="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsAmortizedCost_B4658E912EF05349AB58087708505263" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Available-for-sale Securities, Debt Maturities, Year Two Through Five, Amortized Cost Basis </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsAmortizedCost" xlink:label="loc_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsAmortizedCost_B4658E912EF05349AB58087708505263" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsAmortizedCost_B4658E912EF05349AB58087708505263" xlink:to="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsAmortizedCost_B4658E912EF05349AB58087708505263" xlink:type="arc"/>

<link:label id="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsAmortizedCost_E3296F8A7D4EF840B9AC08770850907E_verboseLabel_en-US" xlink:label="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsAmortizedCost_E3296F8A7D4EF840B9AC08770850907E" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> After 5 but within 10 years, Amortized Cost </link:label>

<link:label id="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsAmortizedCost_E3296F8A7D4EF840B9AC08770850907E_label_en-US" xlink:label="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsAmortizedCost_E3296F8A7D4EF840B9AC08770850907E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Available-for-sale Securities, Debt Maturities, Year Six Through Ten, Amortized Cost Basis </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsAmortizedCost" xlink:label="loc_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsAmortizedCost_E3296F8A7D4EF840B9AC08770850907E" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsAmortizedCost_E3296F8A7D4EF840B9AC08770850907E" xlink:to="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsAmortizedCost_E3296F8A7D4EF840B9AC08770850907E" xlink:type="arc"/>

<link:label id="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsAmortizedCost_058D7E84A923A1B4228D087708502863_verboseLabel_en-US" xlink:label="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsAmortizedCost_058D7E84A923A1B4228D087708502863" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Due after 10 years, Amortized Cost </link:label>

<link:label id="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsAmortizedCost_058D7E84A923A1B4228D087708502863_label_en-US" xlink:label="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsAmortizedCost_058D7E84A923A1B4228D087708502863" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Available-for-sale Securities, Debt Maturities, after Ten Years, Amortized Cost Basis </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsAmortizedCost" xlink:label="loc_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsAmortizedCost_058D7E84A923A1B4228D087708502863" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsAmortizedCost_058D7E84A923A1B4228D087708502863" xlink:to="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsAmortizedCost_058D7E84A923A1B4228D087708502863" xlink:type="arc"/>

<link:label id="lab_us-gaap_AvailableForSaleDebtSecuritiesAmortizedCostBasis_F40C9AAFE3809A867900087708506921_totalLabel_en-US" xlink:label="lab_us-gaap_AvailableForSaleDebtSecuritiesAmortizedCostBasis_F40C9AAFE3809A867900087708506921" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US"> Total debt securities available-for-sale, Amortized Cost </link:label>

<link:label id="lab_us-gaap_AvailableForSaleDebtSecuritiesAmortizedCostBasis_F40C9AAFE3809A867900087708506921_label_en-US" xlink:label="lab_us-gaap_AvailableForSaleDebtSecuritiesAmortizedCostBasis_F40C9AAFE3809A867900087708506921" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Available-for-sale Debt Securities, Amortized Cost Basis </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_AvailableForSaleDebtSecuritiesAmortizedCostBasis" xlink:label="loc_us-gaap_AvailableForSaleDebtSecuritiesAmortizedCostBasis_F40C9AAFE3809A867900087708506921" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AvailableForSaleDebtSecuritiesAmortizedCostBasis_F40C9AAFE3809A867900087708506921" xlink:to="lab_us-gaap_AvailableForSaleDebtSecuritiesAmortizedCostBasis_F40C9AAFE3809A867900087708506921" xlink:type="arc"/>

<link:label id="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue_E813651B2A89BD548EEA08770850EDCE_terseLabel_en-US" xlink:label="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue_E813651B2A89BD548EEA08770850EDCE" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Due within 1 year, Fair Value </link:label>

<link:label id="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue_E813651B2A89BD548EEA08770850EDCE_label_en-US" xlink:label="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue_E813651B2A89BD548EEA08770850EDCE" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Available-for-sale Securities, Debt Maturities, Next Twelve Months, Fair Value </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue" xlink:label="loc_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue_E813651B2A89BD548EEA08770850EDCE" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue_E813651B2A89BD548EEA08770850EDCE" xlink:to="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue_E813651B2A89BD548EEA08770850EDCE" xlink:type="arc"/>

<link:label id="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue_359356A557F75F2671260877085081AA_verboseLabel_en-US" xlink:label="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue_359356A557F75F2671260877085081AA" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> After 1 but within 5 years, Fair Value </link:label>

<link:label id="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue_359356A557F75F2671260877085081AA_label_en-US" xlink:label="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue_359356A557F75F2671260877085081AA" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Available-for-sale Securities, Debt Maturities, Year Two Through Five, Fair Value </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue" xlink:label="loc_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue_359356A557F75F2671260877085081AA" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue_359356A557F75F2671260877085081AA" xlink:to="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue_359356A557F75F2671260877085081AA" xlink:type="arc"/>

<link:label id="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsFairValue_76C22F2D3004BC5A1B2D08770850572F_verboseLabel_en-US" xlink:label="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsFairValue_76C22F2D3004BC5A1B2D08770850572F" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> After 5 but within 10 years, Fair Value </link:label>

<link:label id="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsFairValue_76C22F2D3004BC5A1B2D08770850572F_label_en-US" xlink:label="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsFairValue_76C22F2D3004BC5A1B2D08770850572F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Available-for-sale Securities, Debt Maturities, Year Six Through Ten, Fair Value </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsFairValue" xlink:label="loc_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsFairValue_76C22F2D3004BC5A1B2D08770850572F" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsFairValue_76C22F2D3004BC5A1B2D08770850572F" xlink:to="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsFairValue_76C22F2D3004BC5A1B2D08770850572F" xlink:type="arc"/>

<link:label id="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsFairValue_DAC5C30EFE83F3348D09087708502443_verboseLabel_en-US" xlink:label="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsFairValue_DAC5C30EFE83F3348D09087708502443" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Due after 10 years, Fair Value </link:label>

<link:label id="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsFairValue_DAC5C30EFE83F3348D09087708502443_label_en-US" xlink:label="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsFairValue_DAC5C30EFE83F3348D09087708502443" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Available-for-sale Securities, Debt Maturities, after Ten Years, Fair Value </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsFairValue" xlink:label="loc_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsFairValue_DAC5C30EFE83F3348D09087708502443" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsFairValue_DAC5C30EFE83F3348D09087708502443" xlink:to="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsFairValue_DAC5C30EFE83F3348D09087708502443" xlink:type="arc"/>

<link:label id="lab_us-gaap_AvailableForSaleSecuritiesDebtSecurities_BA229F9A0A703F5A7B7808770850D41F_totalLabel_en-US" xlink:label="lab_us-gaap_AvailableForSaleSecuritiesDebtSecurities_BA229F9A0A703F5A7B7808770850D41F" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US"> Total debt securities available-for-sale, Fair Value </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_AvailableForSaleSecuritiesDebtSecurities" xlink:label="loc_us-gaap_AvailableForSaleSecuritiesDebtSecurities_BA229F9A0A703F5A7B7808770850D41F" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AvailableForSaleSecuritiesDebtSecurities_BA229F9A0A703F5A7B7808770850D41F" xlink:to="lab_us-gaap_AvailableForSaleSecuritiesDebtSecurities_BA229F9A0A703F5A7B7808770850D41F" xlink:type="arc"/>

<link:label id="lab_cit_AvailableForSaleSecuritiesDebtMaturitiesNextTwelveMonthsAverageYield_38439FFBD9A5A9591B1D08770850DFBD_terseLabel_en-US" xlink:label="lab_cit_AvailableForSaleSecuritiesDebtMaturitiesNextTwelveMonthsAverageYield_38439FFBD9A5A9591B1D08770850DFBD" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Due within 1 year, Weighted Average Yield </link:label>

<link:label id="lab_cit_AvailableForSaleSecuritiesDebtMaturitiesNextTwelveMonthsAverageYield_38439FFBD9A5A9591B1D08770850DFBD_label_en-US" xlink:label="lab_cit_AvailableForSaleSecuritiesDebtMaturitiesNextTwelveMonthsAverageYield_38439FFBD9A5A9591B1D08770850DFBD" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Available-for-sale Securities, Debt Maturities, Next Twelve Months, Average Yield </link:label>

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<link:label id="lab_cit_AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsAverageYield_50D742C4EC1B9097297908770850FAAE_label_en-US" xlink:label="lab_cit_AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsAverageYield_50D742C4EC1B9097297908770850FAAE" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Available-for-sale Securities, Debt Maturities, after Ten Years, Average Yield </link:label>

<link:label id="lab_cit_AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsAverageYield_50D742C4EC1B9097297908770850FAAE_documentation_en-US" xlink:label="lab_cit_AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsAverageYield_50D742C4EC1B9097297908770850FAAE" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Available-for-sale Securities, Debt Maturities, after Ten Years, Average Yield </link:label>

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<link:label id="lab_cit_AvailableForSaleDebtSecuritiesAverageYield_9D3F884D5EE0A078B2A808770850B561_terseLabel_en-US" xlink:label="lab_cit_AvailableForSaleDebtSecuritiesAverageYield_9D3F884D5EE0A078B2A808770850B561" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Weighted Average Yield </link:label>

<link:label id="lab_cit_AvailableForSaleDebtSecuritiesAverageYield_9D3F884D5EE0A078B2A808770850B561_label_en-US" xlink:label="lab_cit_AvailableForSaleDebtSecuritiesAverageYield_9D3F884D5EE0A078B2A808770850B561" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Available-for-sale Debt Securities, Average Yield </link:label>

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<link:label id="lab_us-gaap_InvestmentHoldingsLineItems_CAFB947F27D0395E023C23D1A32D5E63_terseLabel_en-US" xlink:label="lab_us-gaap_InvestmentHoldingsLineItems_CAFB947F27D0395E023C23D1A32D5E63" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Investment Holdings [Line Items] </link:label>

<link:label id="lab_us-gaap_InvestmentHoldingsLineItems_CAFB947F27D0395E023C23D1A32D5E63_label_en-US" xlink:label="lab_us-gaap_InvestmentHoldingsLineItems_CAFB947F27D0395E023C23D1A32D5E63" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Investment Holdings [Line Items] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_InvestmentHoldingsLineItems" xlink:label="loc_us-gaap_InvestmentHoldingsLineItems_CAFB947F27D0395E023C23D1A32D5E63" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InvestmentHoldingsLineItems_CAFB947F27D0395E023C23D1A32D5E63" xlink:to="lab_us-gaap_InvestmentHoldingsLineItems_CAFB947F27D0395E023C23D1A32D5E63" xlink:type="arc"/>

<link:label id="lab_us-gaap_AvailableforsaleSecuritiesGrossRealizedGainLossExcludingOtherThanTemporaryImpairments_A83B78EFC8333821087F23D1A32DC9F2_verboseLabel_en-US" xlink:label="lab_us-gaap_AvailableforsaleSecuritiesGrossRealizedGainLossExcludingOtherThanTemporaryImpairments_A83B78EFC8333821087F23D1A32DC9F2" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Realized investment gains excluding losses from OTTI </link:label>

<link:label id="lab_us-gaap_AvailableforsaleSecuritiesGrossRealizedGainLossExcludingOtherThanTemporaryImpairments_A83B78EFC8333821087F23D1A32DC9F2_label_en-US" xlink:label="lab_us-gaap_AvailableforsaleSecuritiesGrossRealizedGainLossExcludingOtherThanTemporaryImpairments_A83B78EFC8333821087F23D1A32DC9F2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Available-for-sale Securities, Gross Realized Gain (Loss), Excluding Other than Temporary Impairments </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_AvailableforsaleSecuritiesGrossRealizedGainLossExcludingOtherThanTemporaryImpairments" xlink:label="loc_us-gaap_AvailableforsaleSecuritiesGrossRealizedGainLossExcludingOtherThanTemporaryImpairments_A83B78EFC8333821087F23D1A32DC9F2" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AvailableforsaleSecuritiesGrossRealizedGainLossExcludingOtherThanTemporaryImpairments_A83B78EFC8333821087F23D1A32DC9F2" xlink:to="lab_us-gaap_AvailableforsaleSecuritiesGrossRealizedGainLossExcludingOtherThanTemporaryImpairments_A83B78EFC8333821087F23D1A32DC9F2" xlink:type="arc"/>

<link:label id="lab_us-gaap_CertainLoansAcquiredInTransferAccountedForAsAvailableForSaleDebtSecuritiesAcquiredDuringPeriodAtAcquisitionAtFairValue_801D778DB4F1E7F5D0C723D1A32DC965_verboseLabel_en-US" xlink:label="lab_us-gaap_CertainLoansAcquiredInTransferAccountedForAsAvailableForSaleDebtSecuritiesAcquiredDuringPeriodAtAcquisitionAtFairValue_801D778DB4F1E7F5D0C723D1A32DC965" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Estimated fair value of purchased credit-impaired securities </link:label>

<link:label id="lab_us-gaap_CertainLoansAcquiredInTransferAccountedForAsAvailableForSaleDebtSecuritiesAcquiredDuringPeriodAtAcquisitionAtFairValue_801D778DB4F1E7F5D0C723D1A32DC965_label_en-US" xlink:label="lab_us-gaap_CertainLoansAcquiredInTransferAccountedForAsAvailableForSaleDebtSecuritiesAcquiredDuringPeriodAtAcquisitionAtFairValue_801D778DB4F1E7F5D0C723D1A32DC965" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Certain Loans Acquired in Transfer Accounted for as Available-for-sale Debt Securities, Acquired, at Acquisition, at Fair Value </link:label>

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<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CertainLoansAcquiredInTransferAccountedForAsAvailableForSaleDebtSecuritiesAcquiredDuringPeriodAtAcquisitionAtFairValue_801D778DB4F1E7F5D0C723D1A32DC965" xlink:to="lab_us-gaap_CertainLoansAcquiredInTransferAccountedForAsAvailableForSaleDebtSecuritiesAcquiredDuringPeriodAtAcquisitionAtFairValue_801D778DB4F1E7F5D0C723D1A32DC965" xlink:type="arc"/>

<link:label id="lab_cit_CertainLoansAcquiredInTransferAccountedForAsAvailableForSaleDebtSecuritiesAcquiredAtAcquisitionAtParValue_ECEC6D4E0068E0981C8423D1A32D80D8_verboseLabel_en-US" xlink:label="lab_cit_CertainLoansAcquiredInTransferAccountedForAsAvailableForSaleDebtSecuritiesAcquiredAtAcquisitionAtParValue_ECEC6D4E0068E0981C8423D1A32D80D8" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Par value of purchased credit-impaired securities </link:label>

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<link:label id="lab_cit_EquitySecuritiesFVNIUnrealizedLoss_C7F43E77E6BC8E75EBC723D1A32DE4F3_documentation_en-US" xlink:label="lab_cit_EquitySecuritiesFVNIUnrealizedLoss_C7F43E77E6BC8E75EBC723D1A32DE4F3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Equity Securities, FV-NI, Unrealized Loss </link:label>

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<link:label id="lab_us-gaap_TradingSecuritiesCost_ACFEFEB61ECF47E2FE3123D1A32D6272_label_en-US" xlink:label="lab_us-gaap_TradingSecuritiesCost_ACFEFEB61ECF47E2FE3123D1A32D6272" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Trading Securities, Cost </link:label>

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<link:label id="lab_us-gaap_TradingSecurities_68905657A52B876720FB23D1A32D5A0E_verboseLabel_en-US" xlink:label="lab_us-gaap_TradingSecurities_68905657A52B876720FB23D1A32D5A0E" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Securities carried at fair value with changes recorded in net income, fair value </link:label>

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<link:label id="lab_us-gaap_OtherThanTemporaryImpairmentLossesInvestmentsPortionInOtherComprehensiveIncomeLossBeforeTaxIncludingPortionAttributableToNoncontrollingInterest_86B0C0E577B9F6E3DBC223D1A32D00A5_terseLabel_en-US" xlink:label="lab_us-gaap_OtherThanTemporaryImpairmentLossesInvestmentsPortionInOtherComprehensiveIncomeLossBeforeTaxIncludingPortionAttributableToNoncontrollingInterest_86B0C0E577B9F6E3DBC223D1A32D00A5" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> OTTI credit-related losses, PCI securities </link:label>

<link:label id="lab_us-gaap_OtherThanTemporaryImpairmentLossesInvestmentsPortionInOtherComprehensiveIncomeLossBeforeTaxIncludingPortionAttributableToNoncontrollingInterest_86B0C0E577B9F6E3DBC223D1A32D00A5_label_en-US" xlink:label="lab_us-gaap_OtherThanTemporaryImpairmentLossesInvestmentsPortionInOtherComprehensiveIncomeLossBeforeTaxIncludingPortionAttributableToNoncontrollingInterest_86B0C0E577B9F6E3DBC223D1A32D00A5" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Other than Temporary Impairment Losses, Investments, Portion in Other Comprehensive Loss, before Tax, Including Portion Attributable to Noncontrolling Interest </link:label>

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<link:label id="lab_us-gaap_AociBeforeTaxAttributableToParent_773C7477274F130FEF27087759175FAD_terseLabel_en-US" xlink:label="lab_us-gaap_AociBeforeTaxAttributableToParent_773C7477274F130FEF27087759175FAD" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Gross Unrealized </link:label>

<link:label id="lab_us-gaap_AociBeforeTaxAttributableToParent_773C7477274F130FEF27087759175FAD_label_en-US" xlink:label="lab_us-gaap_AociBeforeTaxAttributableToParent_773C7477274F130FEF27087759175FAD" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> AOCI before Tax, Attributable to Parent </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_AociBeforeTaxAttributableToParent" xlink:label="loc_us-gaap_AociBeforeTaxAttributableToParent_773C7477274F130FEF27087759175FAD" xlink:type="locator"/>

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<link:label id="lab_us-gaap_AociTaxAttributableToParent_8E94DFCBE1BCEF63A9D808775917105E_negatedLabel_en-US" xlink:label="lab_us-gaap_AociTaxAttributableToParent_8E94DFCBE1BCEF63A9D808775917105E" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US"> Income Taxes </link:label>

<link:label id="lab_us-gaap_AociTaxAttributableToParent_8E94DFCBE1BCEF63A9D808775917105E_label_en-US" xlink:label="lab_us-gaap_AociTaxAttributableToParent_8E94DFCBE1BCEF63A9D808775917105E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> AOCI Tax, Attributable to Parent </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_AociTaxAttributableToParent" xlink:label="loc_us-gaap_AociTaxAttributableToParent_8E94DFCBE1BCEF63A9D808775917105E" xlink:type="locator"/>

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<link:label id="lab_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax_807B29E47D1CD04937610877591753C1_totalLabel_en-US" xlink:label="lab_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax_807B29E47D1CD04937610877591753C1" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US"> Net Unrealized </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax" xlink:label="loc_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax_807B29E47D1CD04937610877591753C1" xlink:type="locator"/>

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<link:label id="lab_us-gaap_AllowanceForCreditLossesTextBlock_029AABB054EBD87D73DA071F6FC6F38E_terseLabel_en-US" xlink:label="lab_us-gaap_AllowanceForCreditLossesTextBlock_23B33A1FEF4754AD99172DD922ED2F68" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> ALLOWANCE FOR LOAN LOSSES </link:label>

<link:label id="lab_us-gaap_AllowanceForCreditLossesTextBlock_029AABB054EBD87D73DA071F6FC6F38E_label_en-US" xlink:label="lab_us-gaap_AllowanceForCreditLossesTextBlock_23B33A1FEF4754AD99172DD922ED2F68" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Allowance for Credit Losses [Text Block] </link:label>

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<link:label id="lab_us-gaap_SubsequentEventTable_4B78FC0282ED558AFDEF27BDC6AC1927_terseLabel_en-US" xlink:label="lab_us-gaap_SubsequentEventTable_4B78FC0282ED558AFDEF27BDC6AC1927" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Subsequent Event [Table] </link:label>

<link:label id="lab_us-gaap_SubsequentEventTable_4B78FC0282ED558AFDEF27BDC6AC1927_label_en-US" xlink:label="lab_us-gaap_SubsequentEventTable_4B78FC0282ED558AFDEF27BDC6AC1927" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Subsequent Event [Table] </link:label>

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<link:label id="lab_cit_ModifiedDutchAuctionCashTenderOfferMember_964784DAAD65E167BC4B27BDC6AD9644_terseLabel_en-US" xlink:label="lab_cit_ModifiedDutchAuctionCashTenderOfferMember_964784DAAD65E167BC4B27BDC6AD9644" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Modified Dutch Auction Cash Tender Offer </link:label>

<link:label id="lab_cit_ModifiedDutchAuctionCashTenderOfferMember_964784DAAD65E167BC4B27BDC6AD9644_label_en-US" xlink:label="lab_cit_ModifiedDutchAuctionCashTenderOfferMember_964784DAAD65E167BC4B27BDC6AD9644" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Modified Dutch Auction Cash Tender Offer [Member] </link:label>

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<link:label id="lab_us-gaap_SubsequentEventLineItems_92F30AE7B8203DC189B927BDC6B32BC2_terseLabel_en-US" xlink:label="lab_us-gaap_SubsequentEventLineItems_92F30AE7B8203DC189B927BDC6B32BC2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Subsequent Event [Line Items] </link:label>

<link:label id="lab_us-gaap_SubsequentEventLineItems_92F30AE7B8203DC189B927BDC6B32BC2_label_en-US" xlink:label="lab_us-gaap_SubsequentEventLineItems_92F30AE7B8203DC189B927BDC6B32BC2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Subsequent Event [Line Items] </link:label>

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<link:label id="lab_us-gaap_StockRepurchaseProgramAuthorizedAmount1_6C168C8013494900298427DEBB173F9A_terseLabel_en-US" xlink:label="lab_us-gaap_StockRepurchaseProgramAuthorizedAmount1_6C168C8013494900298427DEBB173F9A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Maximum cash tender offer </link:label>

<link:label id="lab_us-gaap_StockRepurchaseProgramAuthorizedAmount1_6C168C8013494900298427DEBB173F9A_label_en-US" xlink:label="lab_us-gaap_StockRepurchaseProgramAuthorizedAmount1_6C168C8013494900298427DEBB173F9A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Stock Repurchase Program, Authorized Amount </link:label>

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<link:label id="lab_us-gaap_CommonStockParOrStatedValuePerShare_AA854AD8CEFE5E1FF4A727BDC6B31FE5_verboseLabel_en-US" xlink:label="lab_us-gaap_CommonStockParOrStatedValuePerShare_AA854AD8CEFE5E1FF4A727BDC6B31FE5" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Par value (in dollars per share) </link:label>

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<link:loc xlink:href="cit-20180331.xsd#cit_CoveredLoansMember" xlink:label="loc_cit_CoveredLoansMember_7287ADE53E001E087185FD803125E481" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cit_CoveredLoansMember_7287ADE53E001E087185FD803125E481" xlink:to="lab_cit_CoveredLoansMember_7287ADE53E001E087185FD803125E481" xlink:type="arc"/>

<link:label id="lab_cit_NonCoveredLoansMember_883133BF3A3CB2E6EC55FD803125F8E3_terseLabel_en-US" xlink:label="lab_cit_NonCoveredLoansMember_883133BF3A3CB2E6EC55FD803125F8E3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Non-covered Loans </link:label>

<link:label id="lab_cit_NonCoveredLoansMember_883133BF3A3CB2E6EC55FD803125F8E3_label_en-US" xlink:label="lab_cit_NonCoveredLoansMember_883133BF3A3CB2E6EC55FD803125F8E3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Non Covered Loans [Member] </link:label>

<link:label id="lab_cit_NonCoveredLoansMember_883133BF3A3CB2E6EC55FD803125F8E3_documentation_en-US" xlink:label="lab_cit_NonCoveredLoansMember_883133BF3A3CB2E6EC55FD803125F8E3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Non-covered Loans [Member] </link:label>

<link:loc xlink:href="cit-20180331.xsd#cit_NonCoveredLoansMember" xlink:label="loc_cit_NonCoveredLoansMember_883133BF3A3CB2E6EC55FD803125F8E3" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cit_NonCoveredLoansMember_883133BF3A3CB2E6EC55FD803125F8E3" xlink:to="lab_cit_NonCoveredLoansMember_883133BF3A3CB2E6EC55FD803125F8E3" xlink:type="arc"/>

<link:label id="lab_us-gaap_LoanToValueAxis_2F81718BA95D34C28A8EFD803125B1E2_terseLabel_en-US" xlink:label="lab_us-gaap_LoanToValueAxis_2F81718BA95D34C28A8EFD803125B1E2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Loan to Value [Axis] </link:label>

<link:label id="lab_us-gaap_LoanToValueAxis_2F81718BA95D34C28A8EFD803125B1E2_label_en-US" xlink:label="lab_us-gaap_LoanToValueAxis_2F81718BA95D34C28A8EFD803125B1E2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Loan to Value [Axis] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_LoanToValueAxis" xlink:label="loc_us-gaap_LoanToValueAxis_2F81718BA95D34C28A8EFD803125B1E2" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LoanToValueAxis_2F81718BA95D34C28A8EFD803125B1E2" xlink:to="lab_us-gaap_LoanToValueAxis_2F81718BA95D34C28A8EFD803125B1E2" xlink:type="arc"/>

<link:label id="lab_us-gaap_LoanToValueDomain_F6028BFD151CF275710BFD803125CC48_terseLabel_en-US" xlink:label="lab_us-gaap_LoanToValueDomain_F6028BFD151CF275710BFD803125CC48" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Loan to Value [Domain] </link:label>

<link:label id="lab_us-gaap_LoanToValueDomain_F6028BFD151CF275710BFD803125CC48_label_en-US" xlink:label="lab_us-gaap_LoanToValueDomain_F6028BFD151CF275710BFD803125CC48" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Loan to Value [Domain] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_LoanToValueDomain" xlink:label="loc_us-gaap_LoanToValueDomain_F6028BFD151CF275710BFD803125CC48" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LoanToValueDomain_F6028BFD151CF275710BFD803125CC48" xlink:to="lab_us-gaap_LoanToValueDomain_F6028BFD151CF275710BFD803125CC48" xlink:type="arc"/>

<link:label id="lab_cit_LtvGreaterThan125PercentMember_C979F747C13EDF6C483CFD8031257130_terseLabel_en-US" xlink:label="lab_cit_LtvGreaterThan125PercentMember_C979F747C13EDF6C483CFD8031257130" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Greater than 125% </link:label>

<link:label id="lab_cit_LtvGreaterThan125PercentMember_C979F747C13EDF6C483CFD8031257130_label_en-US" xlink:label="lab_cit_LtvGreaterThan125PercentMember_C979F747C13EDF6C483CFD8031257130" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Ltv Greater Than125 Percent [Member] </link:label>

<link:label id="lab_cit_LtvGreaterThan125PercentMember_C979F747C13EDF6C483CFD8031257130_documentation_en-US" xlink:label="lab_cit_LtvGreaterThan125PercentMember_C979F747C13EDF6C483CFD8031257130" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Loan-to-value (LTV) greater than 125%. Element name and standard label in LTV Greater Than [low end numeric value] Percent [Member] or LTV Less Than [high end numeric value] Percent [Member] formats. </link:label>

<link:loc xlink:href="cit-20180331.xsd#cit_LtvGreaterThan125PercentMember" xlink:label="loc_cit_LtvGreaterThan125PercentMember_C979F747C13EDF6C483CFD8031257130" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cit_LtvGreaterThan125PercentMember_C979F747C13EDF6C483CFD8031257130" xlink:to="lab_cit_LtvGreaterThan125PercentMember_C979F747C13EDF6C483CFD8031257130" xlink:type="arc"/>

<link:label id="lab_cit_Ltv101To125PercentMember_DC34893536F0E3EF62FAFD8031258D34_terseLabel_en-US" xlink:label="lab_cit_Ltv101To125PercentMember_DC34893536F0E3EF62FAFD8031258D34" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> 101% – 125% </link:label>

<link:label id="lab_cit_Ltv101To125PercentMember_DC34893536F0E3EF62FAFD8031258D34_label_en-US" xlink:label="lab_cit_Ltv101To125PercentMember_DC34893536F0E3EF62FAFD8031258D34" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Ltv101 To125 Percent [Member] </link:label>

<link:label id="lab_cit_Ltv101To125PercentMember_DC34893536F0E3EF62FAFD8031258D34_documentation_en-US" xlink:label="lab_cit_Ltv101To125PercentMember_DC34893536F0E3EF62FAFD8031258D34" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> LTV 101 to 125 Percent [Member] </link:label>

<link:loc xlink:href="cit-20180331.xsd#cit_Ltv101To125PercentMember" xlink:label="loc_cit_Ltv101To125PercentMember_DC34893536F0E3EF62FAFD8031258D34" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cit_Ltv101To125PercentMember_DC34893536F0E3EF62FAFD8031258D34" xlink:to="lab_cit_Ltv101To125PercentMember_DC34893536F0E3EF62FAFD8031258D34" xlink:type="arc"/>

<link:label id="lab_us-gaap_Ltv80To100PercentMember_2A4A3D6B8210C06941D4FD803125F531_terseLabel_en-US" xlink:label="lab_us-gaap_Ltv80To100PercentMember_2A4A3D6B8210C06941D4FD803125F531" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> 80% – 100% </link:label>

<link:label id="lab_us-gaap_Ltv80To100PercentMember_2A4A3D6B8210C06941D4FD803125F531_label_en-US" xlink:label="lab_us-gaap_Ltv80To100PercentMember_2A4A3D6B8210C06941D4FD803125F531" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> LTV 80 to 100 Percent [Member] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_Ltv80To100PercentMember" xlink:label="loc_us-gaap_Ltv80To100PercentMember_2A4A3D6B8210C06941D4FD803125F531" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_Ltv80To100PercentMember_2A4A3D6B8210C06941D4FD803125F531" xlink:to="lab_us-gaap_Ltv80To100PercentMember_2A4A3D6B8210C06941D4FD803125F531" xlink:type="arc"/>

<link:label id="lab_us-gaap_LtvLessThan80PercentMember_31755ACC9266C2EF8E5AFD803125D33A_terseLabel_en-US" xlink:label="lab_us-gaap_LtvLessThan80PercentMember_31755ACC9266C2EF8E5AFD803125D33A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Less than 80% </link:label>

<link:label id="lab_us-gaap_LtvLessThan80PercentMember_31755ACC9266C2EF8E5AFD803125D33A_label_en-US" xlink:label="lab_us-gaap_LtvLessThan80PercentMember_31755ACC9266C2EF8E5AFD803125D33A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> LTV Less than 80 Percent [Member] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_LtvLessThan80PercentMember" xlink:label="loc_us-gaap_LtvLessThan80PercentMember_31755ACC9266C2EF8E5AFD803125D33A" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LtvLessThan80PercentMember_31755ACC9266C2EF8E5AFD803125D33A" xlink:to="lab_us-gaap_LtvLessThan80PercentMember_31755ACC9266C2EF8E5AFD803125D33A" xlink:type="arc"/>

<link:label id="lab_cit_NMember_A44E74FA746F1B544FFFFD803125BCA2_terseLabel_en-US" xlink:label="lab_cit_NMember_A44E74FA746F1B544FFFFD803125BCA2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Not Applicable </link:label>

<link:label id="lab_cit_NMember_A44E74FA746F1B544FFFFD803125BCA2_label_en-US" xlink:label="lab_cit_NMember_A44E74FA746F1B544FFFFD803125BCA2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> N [Member] </link:label>

<link:label id="lab_cit_NMember_A44E74FA746F1B544FFFFD803125BCA2_documentation_en-US" xlink:label="lab_cit_NMember_A44E74FA746F1B544FFFFD803125BCA2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> N/A [Member] </link:label>

<link:loc xlink:href="cit-20180331.xsd#cit_NMember" xlink:label="loc_cit_NMember_A44E74FA746F1B544FFFFD803125BCA2" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cit_NMember_A44E74FA746F1B544FFFFD803125BCA2" xlink:to="lab_cit_NMember_A44E74FA746F1B544FFFFD803125BCA2" xlink:type="arc"/>

<link:label id="lab_cit_ContingenciesTable_464FD0861242B95EDA4616EC24F56D14_terseLabel_en-US" xlink:label="lab_cit_ContingenciesTable_464FD0861242B95EDA4616EC24F56D14" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Contingencies [Table] </link:label>

<link:label id="lab_cit_ContingenciesTable_464FD0861242B95EDA4616EC24F56D14_label_en-US" xlink:label="lab_cit_ContingenciesTable_464FD0861242B95EDA4616EC24F56D14" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Contingencies [Table] </link:label>

<link:label id="lab_cit_ContingenciesTable_464FD0861242B95EDA4616EC24F56D14_documentation_en-US" xlink:label="lab_cit_ContingenciesTable_464FD0861242B95EDA4616EC24F56D14" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Contingencies [Table] </link:label>

<link:loc xlink:href="cit-20180331.xsd#cit_ContingenciesTable" xlink:label="loc_cit_ContingenciesTable_464FD0861242B95EDA4616EC24F56D14" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cit_ContingenciesTable_464FD0861242B95EDA4616EC24F56D14" xlink:to="lab_cit_ContingenciesTable_464FD0861242B95EDA4616EC24F56D14" xlink:type="arc"/>

<link:label id="lab_us-gaap_LitigationCaseAxis_7CE8FA75E7B9A55265F516EC24F5975E_terseLabel_en-US" xlink:label="lab_us-gaap_LitigationCaseAxis_7CE8FA75E7B9A55265F516EC24F5975E" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Litigation Case [Axis] </link:label>

<link:label id="lab_us-gaap_LitigationCaseAxis_7CE8FA75E7B9A55265F516EC24F5975E_label_en-US" xlink:label="lab_us-gaap_LitigationCaseAxis_7CE8FA75E7B9A55265F516EC24F5975E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Litigation Case [Axis] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_LitigationCaseAxis" xlink:label="loc_us-gaap_LitigationCaseAxis_7CE8FA75E7B9A55265F516EC24F5975E" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LitigationCaseAxis_7CE8FA75E7B9A55265F516EC24F5975E" xlink:to="lab_us-gaap_LitigationCaseAxis_7CE8FA75E7B9A55265F516EC24F5975E" xlink:type="arc"/>

<link:label id="lab_us-gaap_LitigationCaseTypeDomain_4B4D094A4487ADB4F23316EC24F5A162_terseLabel_en-US" xlink:label="lab_us-gaap_LitigationCaseTypeDomain_4B4D094A4487ADB4F23316EC24F5A162" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Litigation Case [Domain] </link:label>

<link:label id="lab_us-gaap_LitigationCaseTypeDomain_4B4D094A4487ADB4F23316EC24F5A162_label_en-US" xlink:label="lab_us-gaap_LitigationCaseTypeDomain_4B4D094A4487ADB4F23316EC24F5A162" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Litigation Case [Domain] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_LitigationCaseTypeDomain" xlink:label="loc_us-gaap_LitigationCaseTypeDomain_4B4D094A4487ADB4F23316EC24F5A162" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LitigationCaseTypeDomain_4B4D094A4487ADB4F23316EC24F5A162" xlink:to="lab_us-gaap_LitigationCaseTypeDomain_4B4D094A4487ADB4F23316EC24F5A162" xlink:type="arc"/>

<link:label id="lab_cit_HUDOIGInvestigationMember_E9C2FA3E0E84E5A851C116EC24F54880_terseLabel_en-US" xlink:label="lab_cit_HUDOIGInvestigationMember_E9C2FA3E0E84E5A851C116EC24F54880" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> HUD OIG Investigation </link:label>

<link:label id="lab_cit_HUDOIGInvestigationMember_E9C2FA3E0E84E5A851C116EC24F54880_label_en-US" xlink:label="lab_cit_HUDOIGInvestigationMember_E9C2FA3E0E84E5A851C116EC24F54880" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> HUD OIG Investigation [Member] </link:label>

<link:label id="lab_cit_HUDOIGInvestigationMember_E9C2FA3E0E84E5A851C116EC24F54880_documentation_en-US" xlink:label="lab_cit_HUDOIGInvestigationMember_E9C2FA3E0E84E5A851C116EC24F54880" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> HUD OIG Investigation [Member] </link:label>

<link:loc xlink:href="cit-20180331.xsd#cit_HUDOIGInvestigationMember" xlink:label="loc_cit_HUDOIGInvestigationMember_E9C2FA3E0E84E5A851C116EC24F54880" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cit_HUDOIGInvestigationMember_E9C2FA3E0E84E5A851C116EC24F54880" xlink:to="lab_cit_HUDOIGInvestigationMember_E9C2FA3E0E84E5A851C116EC24F54880" xlink:type="arc"/>

<link:label id="lab_us-gaap_LossContingenciesByNatureOfContingencyAxis_2396BA9F6E28916621B116EC24F5E106_terseLabel_en-US" xlink:label="lab_us-gaap_LossContingenciesByNatureOfContingencyAxis_2396BA9F6E28916621B116EC24F5E106" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Loss Contingency Nature [Axis] </link:label>

<link:label id="lab_us-gaap_LossContingenciesByNatureOfContingencyAxis_2396BA9F6E28916621B116EC24F5E106_label_en-US" xlink:label="lab_us-gaap_LossContingenciesByNatureOfContingencyAxis_2396BA9F6E28916621B116EC24F5E106" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Loss Contingency Nature [Axis] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_LossContingenciesByNatureOfContingencyAxis" xlink:label="loc_us-gaap_LossContingenciesByNatureOfContingencyAxis_2396BA9F6E28916621B116EC24F5E106" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LossContingenciesByNatureOfContingencyAxis_2396BA9F6E28916621B116EC24F5E106" xlink:to="lab_us-gaap_LossContingenciesByNatureOfContingencyAxis_2396BA9F6E28916621B116EC24F5E106" xlink:type="arc"/>

<link:label id="lab_us-gaap_LossContingencyNatureDomain_3E77D5491D6855D04C9916EC24F564B2_terseLabel_en-US" xlink:label="lab_us-gaap_LossContingencyNatureDomain_3E77D5491D6855D04C9916EC24F564B2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Loss Contingency, Nature [Domain] </link:label>

<link:label id="lab_us-gaap_LossContingencyNatureDomain_3E77D5491D6855D04C9916EC24F564B2_label_en-US" xlink:label="lab_us-gaap_LossContingencyNatureDomain_3E77D5491D6855D04C9916EC24F564B2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Loss Contingency, Nature [Domain] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_LossContingencyNatureDomain" xlink:label="loc_us-gaap_LossContingencyNatureDomain_3E77D5491D6855D04C9916EC24F564B2" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LossContingencyNatureDomain_3E77D5491D6855D04C9916EC24F564B2" xlink:to="lab_us-gaap_LossContingencyNatureDomain_3E77D5491D6855D04C9916EC24F564B2" xlink:type="arc"/>

<link:label id="lab_us-gaap_UnfavorableRegulatoryActionMember_86DC6E94E36EC10E25A616EC24F534BE_terseLabel_en-US" xlink:label="lab_us-gaap_UnfavorableRegulatoryActionMember_86DC6E94E36EC10E25A616EC24F534BE" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Unfavorable Regulatory Action </link:label>

<link:label id="lab_us-gaap_UnfavorableRegulatoryActionMember_86DC6E94E36EC10E25A616EC24F534BE_label_en-US" xlink:label="lab_us-gaap_UnfavorableRegulatoryActionMember_86DC6E94E36EC10E25A616EC24F534BE" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Unfavorable Regulatory Action [Member] </link:label>

<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_UnfavorableRegulatoryActionMember" xlink:label="loc_us-gaap_UnfavorableRegulatoryActionMember_86DC6E94E36EC10E25A616EC24F534BE" xlink:type="locator"/>

<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_UnfavorableRegulatoryActionMember_86DC6E94E36EC10E25A616EC24F534BE" xlink:to="lab_us-gaap_UnfavorableRegulatoryActionMember_86DC6E94E36EC10E25A616EC24F534BE" xlink:type="arc"/>

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6 Subsequent Filings that Reference this Filing

  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

11/05/21  Cit Group Inc.                    10-Q        9/30/21  110:47M                                    ActiveDisclosure/FA
 7/30/21  Cit Group Inc.                    10-Q        6/30/21  111:47M                                    ActiveDisclosure/FA
 4/30/21  Cit Group Inc.                    10-Q        3/31/21  111:42M                                    ActiveDisclosure/FA
 4/30/21  Cit Group Inc.                    10-K/A     12/31/20   14:1.6M                                   Donnelley … Solutions/FA
 2/19/21  Cit Group Inc.                    10-K       12/31/20  214:68M                                    ActiveDisclosure/FA
10/30/20  Cit Group Inc.                    10-Q        9/30/20  146:52M                                    ActiveDisclosure/FA

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