(Bloomberg) Midwestern money manager O’Brien-Staley Partners acquired hundreds of New York City taxi medallion loans, becoming a major player in an industry upended by Uber and Lyft. O’Brien-Staley, founded by two former Cargill Inc. executives, bought performing loans secured by more than 400 medallions from Signature Bank, according to regulatory filings and interviews. That equals roughly 3% of the 13,587 medallions that are either in use or storage, according to the New York City Taxi and Limousine Commission.
Midwestern Money Manager Becomes Big Player in N.Y. Taxi Industry
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