San Francisco Federal Credit Union files a lawsuit against the city concerning monetizing taxi medallions.

A San Francisco credit union is suing the city’s transportation agency for $28 million or more in compensatory damages over a failed taxi medallion program.

The $1 billion San Francisco Federal Credit Union filed a civil lawsuit Tuesday in a California Circuit Court claiming the San Francisco Municipal Transportation Agency allegedly violated certain contract provisions of a public-private partnership program to protect the credit union from suffering millions of dollars in damages.

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Peter Strozniak

 

Credit Union Times

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