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Taxi battle brewing in San Francisco. Taxi battle brewing in San Francisco. (Source: Shutterstock)

San Francisco city officials said this month that they have no obligation to pay the San Francisco Federal Credit Union millions of dollars as a result of taxi medallion loans that have remained unpaid.

Responding to a lawsuit filed by the $1 billion credit union last year, the San Francisco Municipal Transit Agency said, “it did not guarantee the value or profitability of transferable medallions, the continued demand of medallions, or [the agency’s] ability to retransfer foreclosed medallions.”

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David Baumann

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