Eight Lawmakers Write NCUA over Melrose's Treatment of Taxi Medallion Borrowers "Credit News 24"

Crain's New York Business is reporting that eight New York Democratic lawmakers wrote National Credit Union Administration (NCUA) Chairm...

CU Taxi Medallion Lender Likened to Last Decade's Predatory Subprime Lenders "Credit News 24"

The Philadelphia Inquirer is compares the collapsing of the Philadelphia taxi market to the mortgage meltdown last decade and has some harsh...

46 NYC Taxi Medallions Sell for Under $200,000 in Auction "Credit News 24"

Crain's New York Business is reporting that 46 foreclosed New York City (NYC) taxi medallions sold at auction for $186,000 each. The for...

Auction of Foreclosed Taxi Medallions Did Not Get Any Bidder at $300,000 "Credit News 24"

An auction of 49 foreclosed New York City taxi medallions held by Capital One did not get any bids. According to Crain's New York Busin...

Ahead of Auction, Minimum Bid for 46 New York City Taxi Medallions Set at $165,000 Each "Credit News 24"

The Wall Street Journal is reporting that trustee liquidating part of New York taxi mogul Evgeny “Gene” Freidman’s holdings has found a bidd...

Other CUs Impacted by Troubled Taxi Medallion Loans "Credit News 24"

While the remaining three New York City taxi medallion lending credit unions garner most of the attention, there are other credit unions tha...

Taxi Medallion Participation Loan Defaults Rose at Quorum FCU during Q2 2018 "Credit News 24"

Quorum Federal Credit Union (Purchase, NY) reported an increase in delinquent loans during the second quarter of 2018 driven by poor perform...

Taxi Medallion Lender Progressive CU Recorded YTD Loss of $45 Million "Credit News 24"

Progressive Credit Union (New York, NY) reported a loss of $45 million through the first six months of 2018, as troubled taxi medallion loan...