Credit Union Sues San Francisco Over Taxi Driver Loans

ONLY ON FIVE – A BLOCKBUSTER LAWSUIT STEMMING FROM THE COLLAPSE OF SAN FRANCISCO'S TAXI INDUSTRY BUT IT'S NOT DRIVERS FILING SUIT – IT'S THEIR LENDER

KPIX 5'S WILSON WALKER FIRST BROKE THE STORY OF THE CREDIT UNION THAT'S BURIED UNDER A MOUNTAIN OF TROUBLED MEDALLION LOANS AND NOW – HE TALKS WITH THE C- E-O WHO SAYS HIS MEMBERS GOT BURNED BY THE CITY OF SAN FRANCISCO {{Jonathan Oliver "We partner with the city in many different avenues, this is one where we felt they left us holding the bag, and that's why we're filing the lawsuit" HOLDING A BAG FULL OF TROUBLED LOANS DRIVEN BY A TAXI INDUSTRY ON THE SKIDS – THE SAN FRANCISCO FEDERAL CREDIT UNION IS NOW SUING THE CITY – FOR $28,000,000 {{Jonathan Joseph "These are damages the credit union has suffered – and that number could go up

" <nats> AND THIS IS A COLLISION WE'VE DOLLARS IN WHAT IT CALLS "IMPAIRED" LOANS – NOT ENOUGH TO ENDANGER THE CREDIT UNION – BUT CERTAINLY ENOUGH TO HURT NOW – A SPOKESMAN FOR THE CITY ATTORNEY'S OFFICE TELLS US THEY ARE REVIEWING THE LAWSUIT – WE'LL KEEP YOU POSTED WILSON WALKER – KPIX 5 NEW AT 6: A PLAN AIMED AT EASING THE HOUSING CRISIS COULD SPARK A