Has Uber Hit a Speed Bump in New York? Taxis Still Hog the Midtown


thestreet.com – Frederick Steier


NEW YORK (TheStreet) — Despite claims that Uber Technologies is putting the taxi medallion financial industry out of business, recent data released by the company tells a different story — that direct taxi competitor UberX may have peaked in New York.

As a result, all the hand-wringing over delinquent taxi medallion loans at taxi medallion financial institutions like Citibank (C – Get Report) , Capital One (COF – Get Report) , Signature Bank (SBNY – Get Report) , New York Community Bancorp (NYCB – Get Report) and other smaller legacy lenders, could be overblown. Here’s why.

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Categories: Politics

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