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Taxi driving in downtown San Francisco. Source: Shutterstock.

A jury found that a city agency did not breach a lender agreement with the $1.3 billion San Francisco Federal Credit Union that forced it to foreclose on hundreds of taxi medallion loans worth millions of dollars.

According to court records, the jury reached its verdict over the contract dispute last month and that the credit union could be held responsible for paying the attorney fees and costs of the San Francisco Municipal Transportation Agency (SFMTA), a state court judge ruled on Nov. 8.

Peter Strozniak


Credit Union Times

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