Are the Risks Rising for Taxi Medallion Loan Participants?
The declining value of taxi medallions could have an impact beyond the doors of the four credit unions that have traditionally originated these loans and which are now experiencing rising delinquencies. As of June 30, 2015, the four credit unions have collectively sold participation interests in more than 1,442 MBLs totaling more than $814.5 million. However, NCUA has not revealed what percentage of those MBLs are medallion loans or how many of those loans are currently delinquent. [9/30/15]