NCUA official seal. (Source: NCUA)
As New York City mayor Bill de Blasio doubled down on his criticism of oversight of credit unions that loaned money to taxi drivers, the NCUA said Monday night that it is working with drivers to modify loans they cannot repay.
"Our goal is to help taxi drivers preserve their livelihoods while also ensuring they can afford to make payments on performing and sustainable loans," NCUA spokesperson John Fairbanks said. "We understand that behind many taxi loans are individuals and families impacted by the harsh reality of the current taxi medallion market."
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