NYC Comptroller Endorses Plan to Rescue Taxi Drivers From ‘Predatory Lenders’

Saying that he believes that predatory lenders took New York City taxi drivers “for a ride and left families in a wreckage of financial distress and despair,” New York City Comptroller Scott Stinger Thursday endorsed a driver bailout plan proposed by the New York Taxi Workers Alliance. “We have a fiscal and moral obligation to make this right—and embracing this plan is a start,” said Stringer, who is a candidate for New York City mayor. Stringer said that he has reviewed the plan and has concluded that it offers a comprehensive risk management approach that could reduce future liability and

New York City Council Members Revive Taxi Bailout Plan

Twenty members of the New York City city council earlier this month urged Mayor Bill de Blasio to support a plan to help taxi medallion owners saddled with loans that were once owned by the National Credit Union Administration. “The collapse of our City’s Medallion market, properly understood, should and will be remembered as one of the greatest government failures in the history of New York City,” the members, including Ritchie Torres, who earlier this year tried to put together a public-private partnership to help drivers wrote. They added, “After buying an asset because they had a guarantee from the