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New York City taxicabs

Net losses nearly doubled to $93.5 million in the second quarter for three New York credit unions heavily saddled with taxi medallion loans.

More than three quarters of the losses came from two Queens credit unions that were placed into NCUA conservatorship last year: Melrose Credit Union, Briarwood, N.Y. ($1.1 billion in assets, 19,864 members) and LOMTO Federal Credit Union, Woodside, N.Y. ($156.2 million in assets, 2,283 members).

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Jim DuPlessis

A journalist for decades.

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