With claims that a plan from the mayor of New York’s office to create up to 18,000 livery cabs would create unfair competition with the city’s yellow cabs, an association of credit union lenders has filed a lawsuit to halt the effort.
A year after it started offering them, San Francisco Federal Credit Union has funded its 100th taxi medallion loan.
The question of whether a CUSO can act as a loan broker for loans used to finance the purchase of New York City taxi medallions was recently addressed by the NCUA.
In labyrinthine San Francisco, taxi cabs are always in high demand to help tourists and residents navigate the city's tight spaces.
At least two credit unions are involved in a new pilot program from the San Francisco Municipal Transportation Agency that will permit the sale of coveted taxi medallions.