Medallion Financial Corp. got hit a decade ago as ride-sharing apps like Uber and Lyft began to tank the value of taxi ...

The taxi medallion price has dropped from its million-dollar peak in 2014 to as low as $60,000 in individual sales, with new competition from Brooklyn startup Revel adding just another blow to ...

A new class action lawsuit says a decade of negligence and corruption by New York City officials destroyed the value of yellow taxi medallions, and demands $2.5 billion in restitution. The suit all… ...

New York Rep. Gregory Meeks and other local leaders proposed new legislation called "The Tax Relief For Taxi Drivers Act" that would guarantee taxi medallion owners wouldn't be taxed for any debt ...

Last Thursday, New York City Controller Scott Stringer stood shoulder-to-shoulder with members of the New York Taxi Workers Alliance to offer his support of their proposal for taxi medallion relief.

New York City will never allow this medallion to go all the way down,” she reasoned with her brother. City data showed a 10 percent drop in revenue per yellow cab after Uber’s debut in 2011 ...

Way back when – think 1937 – New York City officials made the decision that in order to operate a taxicab in the city, you needed to own (or lease) a taxi medallion. And they set a ceiling on ...

Nearly two years after a New York Times investigation revealed the extent of the New York City taxi medallion crisis, many largely immigrant drivers remain drowning in debt that has been compounded by ...

New York City taxi commission accused of $810 million fraud. ... The price of an individual taxi medallion sold at an auction skyrocketed 240% from 2004 to 2014, from $283,300 to $965,000.

In New York, Richard had gotten Kenny into the taxi industry and persuaded him to buy a medallion, a move they believed would secure their futures. Richard had looked after Kenny their entire lives.