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Taxi drivers filing for bankruptcy due to high costs of permits in New York

Ever since the introduction of ride sharing apps like Uber and Lyft, taxi drivers have been struggling to make money. But new reporting suggests that the high price loans taxi drivers took to pay for operating permits, known as ‘medallions,’ have also contributed to the crisis they are facing today. Peggy Carranza has the story from New York City.

Taxi drivers filing for bankruptcy due to high costs of permits in New York

Ever since the introduction of ride sharing apps like Uber and Lyft, taxi drivers have been struggling to make money. But new reporting suggests that the high price loans taxi drivers took to pay for operating permits, known as ‘medallions,’ have also contributed to the crisis they are facing today. Peggy Carranza has the story from New York City.

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