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

Recently, the medallion owners stymied two of Bloomberg’s signature efforts to reform the New York City taxi system: the borough taxi plan, and his effort to reduce carbon emmissions bymaking ...

First of all, what is a taxi medallion? A taxi medallion, also known as CNPC (Certificate of Public Necessity and Convenience), is a transferable permit to drive a taxi in New York. When did taxis ...

NEW YORK CITY — Outside the gated ... A single mom raising two Black boys, LeConte saw the taxi industry and her possession of a medallion as a reliable way to earn enough money to keep ...

NEW YORK (CBSNewYork) – New legislation could offer major relief for taxi drivers in New York City. The rise of ride-share companies and the declining values in medallions have left drivers ...

Owners of New York City taxi medallions are in crisis. Owning the right to operate one of the city’s iconic yellow cabs was once a sure financial bet. That is no longer the case considering the ...

Just four years ago, the cost to purchase a New York City taxi medallion, an essential license needed to operate a yellow cab, hit $1.3 million. A hefty sum but worth it given the lucrative trade ...

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 ...

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.

The taxi medallion price has dropped from its million ... The city recently selected Pursuit Lending, formerly known as New York Business Development Corp., to administer the fund.