Yellow Cab Drivers Rally Near New York City Hall, Asking For Taxi Medallion Debt ReliefMedallion owners would be allowed to repay loans with interest rates capped at 4% and monthly payments at less than $800.
Task Force Recommends How To Help Taxi Medallion Owners Drowning In DebtThe 77-page report says the industry is in a state of crisis and needs immediate action. So the group is sharing its recommendations for city, state and federal government officials to help drivers survive.
‘This Is What I Live For:’ Taxi Medallion Owners Hopeful That Help Is On The WayTaxi medallions used to be a hot commodity, but their values have plummeted, leaving many owners drowning in debt.
Taxi Medallion Holders Drowning In Debt May Soon Get Major Relief Under Proposed Refinancing LawTaxi medallions were once a luxury most livery drivers wanted, but thanks to rideshare apps like Uber, medallions are worth a lot less - leaving many owners drowning in debt.
Report: City-Appointed Panel Seeking Bailout To Help Taxi Drivers Struggling To Pay Medallion LoansThe city-issued permits, many of which were sold at artificially inflated prices, allow them to own cabs.
NYC To Help Taxi Drivers Against Medallion Broker MisconductIn New York City, 95 percent of taxi drivers are immigrants, and documents for them will now be available in 10 languages.
De Blasio Orders Investigation Into ‘Predatory Practices’ By Taxi Medallion BrokersDe Blasio’s announcement follows a New York Times report on what it called “reckless loans to low-income buyers.”