As a taxi lender seizes medallions, cabbies are caught in the carnage | Crain’s New York Business

Cab drivers and owners get caught in the headlights of a troubled taxi lender As Melrose Credit Union looks to seize assets instead of refinancing medallion loans, individual owners fear for their future Photo: Buck Ennis THE ROAD AHEAD Drivers such as Medina are 
weighing whether to stay 
 in the business. inheritedlink: /apps/pbcs.dll/article?AID=/20170709/SMALLBIZ/170709944&template=rwd& morning10: […]

The Car Was Repossessed, but the Debt Remains – The New York Times

close dealbook-branding close story-meta Photo Unable to recover the balance of loans by repossessing and reselling the cars of owners who default, some subprime lenders are aggressively suing the borrowers to collect what remains. Credit Spencer Platt/Getty Images More than a decade after Yvette Harris’s 1997 Mitsubishi was repossessed, she is still paying off her […]

Goldman Finds New Way to Make Money Off Human Misery | Vanity Fair

Buying and selling “hunger bonds” is always more fun when you do it with friends. Optimal investing conditions. By JUAN BARRETO/AFP/Getty Images. Back in May, Goldman Sachs found itself in a bit of hot water when The Wall Street Journal reported that its asset-management arm had purchased $2.8 billion worth of Venezuelan bonds that had […]

If You Have 29 Credit Cards, You’re Probably a Millennial – WSJ

When Kyle Allen gets home from work each day, he heads straight for his mailbox. “It does give me a rush,” says the 29-year-old financial analyst from Orlando. What he hopes to find is yet another offer for a new credit card. He and his wife together have 40 of them and have earned, so […]

Financiers Fight Over the American Dream – The New Yorker

  Bill Ackman saw his hedge fund’s crusade against Herbalife as a moral battle with a billion-dollar payday.CreditIllustration by Mike McQuade / Photograph by Andrew Harrer / Bloomberg / Getty Barrier Status: ‘none’ One day in the summer of 2011, Christine Richard arrived at the forty-second floor of a high-rise on Fifty-seventh Street in Manhattan to visit a […]

Wells Fargo’s New Account Openings Down 30% After Fake Account Fiasco – Consumerist

Wells Fargo’s New Account Openings Down 30% After Fake Account Fiasco Image courtesy of Mike Mozart Despite overhauling its teller pay system and ditching a high-pressure sales goal incentive program, Wells Fargo continues to face the consequences of its fake account fiasco perpetrated by employees who opened more than two million unauthorized accounts, as customers continue […]