taxi medallion financing News

Montauk Credit Union, a large provider of loans to taxi medallion owners, was seized on Friday by New York State’s top financial regulator. The New York State Department of Financial Services said the seizure was necessary because the credit union, …

New York credit unions that have run up large exposures to the city’s iconic yellow cabs are facing a sharp increase in loan losses after a judge threw out a legal challenge to ride-hailing service Uber Technologies Inc. Four credit …