8-K

                      SECURITIES AND EXCHANGE COMMISSION


                            Washington, D.C. 20549

                                    FORM 8-K

                                 CURRENT REPORT

                   Pursuant to Section 13 and 15 (d) of the
                        Securities Exchange Act of 1934

     Date of Report (Date of earliest event reported):  November 23, 1999


                               THE CIT GROUP, INC.
           (Exact name of Registrant as specified in its charter)








Delaware                       1-1861                  13-2994534
(State or other jurisdiction   (Commission             (I.R.S. Employer
 of incorporation)             File Number)            Identification No.)

                       1211 Avenue of the Americas
                        New York, New York  10036
                 (Address of principal executive offices)
Registrant's telephone number, including area code:     (212) 536-1390




Item 5.     Other Events.
            On November 23, 1999, CIT announced the commencement of a consent
solicitation relating to certain of its public debt.  The press release
announcing the consent solicitation is filed as Exhibit 99.1 and is
incorporated by reference herein in its entirety.
Item 7.     Financial Statements, Pro Forma Financial Information and
            Exhibits.

           (c)   Exhibits.

                  99.1  Press Release, dated November 23, 1999, Regarding
                        Consent Solicitation of Debtholders.




                                 SIGNATURES

          Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.

                                          The CIT Group, Inc.




                                          By:  /s/  Joseph M. Leone
                                              ---------------------
                                              Joseph M. Leone
                                              Executive Vice President and
                                              Chief Financial Officer

Date:  November 23, 1999

EX-99.1

The CIT Group, Inc. Announces Consent Solicitation For Its 5.875% Senior Debt
Securities due 2008 9.25% Senior Subordinated Debt Securities due 2001 8.375%
Senior Subordinated Debt Securities due 2001

LIVINGSTON, NJ--November 23, 1999--The CIT Group, Inc. (NYSE: CIT; TSE:CGN)
announced today the commencement of a consent solicitation from the holders of
its $200,000,000 in principal amount 5.875% Senior Debt Securities due 2008,
$100,000,000 in principal amount 9.25% Senior Subordinated Debt Securities due
2001 and $100,000,000 in principal amount 8.375% Senior Subordinated Debt
Securities due 2001 (collectively, the "Debt Securities"). The record date has
been set as the close of business on November 22, 1999.

CIT is soliciting consents to conform the negative pledge clause in the
indentures for these Debt Securities to the negative pledge clause in CIT's
current indenture. This consent would provide CIT and its subsidiaries greater
flexibility in structuring financial transactions arising out of CIT's
operating businesses, including securitizations.

CIT is offering a cash consent payment of (i) $3.00, with respect to the
Senior Debt Securities and (ii) $1.50, with respect to the Senior Subordinated
Debt Securities, in each case, per $1,000 in principal amount of the Debt
Securities to all holders of record who consent (and do not revoke their
consent) to the proposed amendment on or prior to December 6, 1999.

The consent payment is conditioned upon, among other things, the receipt of
consents from holders of at least two-thirds in aggregate principal amount of
each series of Debt Securities. The consent solicitation expires at 5:00 p.m.,
New York time, on December 6, 1999, unless extended.

Lehman Brothers Inc. is serving as Solicitation Agent in connection with the
consent solicitation. Questions regarding the terms of the consent
solicitation may be directed to the Solicitation Agent at Toll Free: 800-438-
3242, Attention: Scott Macklin.

D.F. King & Co., Inc. is serving as Information Agent. Questions regarding the
delivery procedures for the consents and requests for additional copies of the
consent solicitation statement or related documents may be directed to the
Information Agent at Toll Free: 800-848-2998.

CIT is a leading diversified finance company offering commercial financing
secured by various types of collateral. Historically, CIT has operated almost
exclusively in the United States and has marketed its products and services to
smaller, middle-market and larger businesses and to individuals through a
nationwide distribution network. CIT has been in business since 1908 and is
recognized as a leader in many of the markets it serves.

On November 15, 1999, CIT acquired Newcourt Credit Group Inc. Newcourt is one
of the world's largest independent, non-bank financial services companies.
Newcourt originates, sells, co-invests in and manages asset-based financings



Newcourt originates the financing of a broad range of equipment and capital
assets by way of secured loans, conditional sales contracts and financial
leases.