Uber and Lyft have been so disruptive to NYC's taxi industry, they are causing lenders to fail
"I celebrate my kids' birthdays over the phone. Why?" Hervias said. While some medallions are held by large owners with fleets, owning a single medallion was long seen as a ticket to the middle class for immigrants like Hervias, who is from Peru. Many of them now owe more on their medallion loans than they originally paid for the medallions because...