Taxi medallion loan losses.
The Teachers Federal Credit Union did not acquire the taxi loans that contributed to the downfall of Melrose Credit Union when it merged with the credit union—a development that could leave the NCUA Share Insurance Fund on the hook for any losses from those troubled loans.
The NCUA has control over the loans, which are backed by taxi medallions. The value of those medallions has plunged in recent years, as taxicabs have faced stiff competition from ride-sharing companies, such as Uber and Lyft.
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