Lender suits follow plunging taxi medallion values blamed on ride-share rivals
May 10, 2017 at 16:50 PM EDT
The disruptive and largely unregulated ride-sharing industry is leaving select taxi-cab rivals upside down on loans as their operation licenses, known as medallions, plunge in value. Also hurt in the mix are the financial institutions that lend to taxi companies, prompting at least one credit union to file multiple lawsuits.