Thank you for sharing!

Your article was successfully shared with the contacts you provided.

The NCUA may be forced to increase loss reserves for the Share Insurance Fund as the value of taxi medallions plunges, putting credit unions that made medallion loans at risk, NCUA board member Rick Metsger said Friday.

“Prices for New York taxi medallions at two recent public auctions have been considerably lower,” Metsger said, speaking at the Oregon Department of Financial Services CEO roundtable. “That, combined with a continued increase in already high delinquency rates on medallion loans, suggests the Share Insurance Fund’s reserves may have to increase in the very near future.”

David Baumann

Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.