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Is help for future NYC Medallion Owners on its way?

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 Posted 2 years, 11 months ago

The Council on Thursday will vote on a bill to establish a new “Office of Financial Stability” within the TLC designed to keep tabs on the health of the city’s crumbling yellow cab industry. Bronx Councilman Ritchie Torres, the bill’s sponsor, said he wanted to prevent a repeat of history when the city sold medallions or approved medallion sales at prices of $1 million and more.