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In this June 26, 2017 photo, taxi driver and taxi medallion owner Marcelino Hervias poses for photos with his taxicab on New York's Upper West Side. Ride-hailing apps like Uber and Lyft have been so disruptive of New York City’s taxi industry, it is causing lenders to fail. Three credit unions that specialized in loaning money against cab medallions, the hard-to-get licenses that allow traditional taxis to operate, have been placed into conservatorship as the value of those medallions has plummeted. (AP Photo/Richard Drew)

In this June 26, 2017 photo, taxi driver and taxi medallion owner Marcelino Hervias poses for photos with his taxicab on New York's Upper West Side. Ride-hailing apps like Uber and Lyft have been so disruptive of New York City’s taxi industry, it is causing lenders to fail. Three credit unions that specialized in loaning money against cab medallions, the hard-to-get licenses that allow traditional taxis to operate, have been placed into conservatorship as the value of those medallions has plummeted. (AP Photo/Richard Drew)

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