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Senate Minority Leader Chuck Schumer Senate Minority Leader Chuck Schumer. (Source: Shutterstock)

In the wake of a New York Times investigation of loans made to the taxi industry, Senate Majority Leader Charles Schumer (D-N.Y.) has accused the NCUA of lax oversight and is asking the agency to speed up efforts to improve its examination process.

The newspaper reported earlier this month that the NCUA and others allowed credit unions to make predatory loans to taxi medallion owners who may have been unaware of the risks.

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David Baumann


Credit Union Times

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