>while providing low interest loans (via a local credit union) so drivers could pay for them That's better than most predatory lending around these medallions

>while providing low interest loans (via a local credit union) so drivers could pay for them That's better than most predatory lending around these medallions in other cities. >The medallion system collapsed and those who took out loans for them did indeed end up getting screwed. Unless there was some wording in the medallion law that would prohibit competitors from entering the market or set a buy-back value, I don't think anyone was screwed. Risky assets imply... Risks!