Search
 

New York Credit Unions Appeal Taxi Medallion Ruling

New York credit unions appeal a court ruling over taxi medallion loans.

By Peter Strozniak | Updated on May 04, 2017

New York credit unions that collectively manage more than $2 billion in taxi medallion loans are appealing a court ruling, which rejected their argument that regulatory treatment of medallion taxicabs violated the equal protection clause under the U.S. Constitution.

The credit unions, which sued the city of New York and its Taxi and Limousine Commission, argued the medallion taxicab industry is required to comply with state regulations. Uber, Lyft, Gett and other mobile app ridesharing services, however, operate without being required to comply with the same regulations.  Such disparate treatment violates the equal protection clause under the Fourteenth Amendment of the U.S. Constitution, the credit unions claimed.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Peter Strozniak

Recommended Stories

Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2024 ALM Global, LLC. All Rights Reserved.