NCUA Issues Letter to Credit Unions Addressing Taxi Medallion Loan Issues
Last year, NCUA issued Letter to Credit Unions, 14-CU-06, which addressed the agency’s concerns about increasing risks associated with making or participating in taxi medallion loans. Now NCUA has issued a second letter, 15-CU-03, which provides answers to frequently asked questions concerning financial reporting and the valuation of and factors that may influence the valuation of taxi medallions. [5/27/15]