NCUA official seal NCUA official seal. (Source: NCUA)

New York government and private industry officials had no immediate plan to obtain the funds needed to purchase the NCUA’s taxi medallion loans and the agency could not give them additional time to do it, NCUA board member J. Mark McWatters said Monday.

But a former NCUA senior official said the sale of taxi loans to a Connecticut hedge fund shreds the goals of the credit union movement and that there was no rush to sell the loans.

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David Baumann

 

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