Ride Share Impacting Banks.

How can ride share be linked to banks? In NY, taxicabs take out loans to pay for their taxi medallions.

The economic impact on the taxi industry by the sharing economy caused banking  “unsafe and unsound conditions” at Montauk Credit Union.

Is this happening elsewhere? Yes, the banks are underwater on taxi cab medallion lonas in Boston and Chicago too.

Governing | How Banks Are Feeling Uber’s Impact