Which US banks participate in the medallion?

Answer 1

In the U.S., several banks participate in the medallion loan market, primarily in New York City, where medallions are used as taxi licenses. Notable banks include Melrose Credit Union, Progressive Credit Union, and the New York City-based banking institutions. These banks provide financing for taxi medallions, which have historically been valuable assets but have seen fluctuating values in recent years due to changes in the transportation industry.