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Board urges SF Federal Credit Union, SFMTA to negotiate medallion relief and to include purchasers in talks
Summary
The board unanimously adopted a resolution urging the San Francisco Federal Credit Union and the Municipal Transportation Agency to negotiate medallion prices, loan forgiveness and reforms — with a last‑minute amendment requiring consultation with purchased medallion holders.
The San Francisco Board of Supervisors on Nov. 30 adopted a resolution urging the San Francisco Federal Credit Union to collaborate with the San Francisco Municipal Transportation Agency (SFMTA) on medallion pricing, loan forgiveness and other reforms addressing the taxi‑medallion crisis. The original resolution called for collaboration; Supervisor Peskin successfully moved an amendment to require that purchased medallion holders be consulted on any potential compromise.
Sponsor remarks framed the resolution as a call for the parties to “put down their swords” and negotiate a relief package similar in principle to an agreement reached in New York. Supervisor Peskin said he wanted to add language making clear that SFMTA and any credit union negotiations should “learn from the perspective of purchased taxi medallion holders who will be impacted by any resulting compromise.” The board amended the resolution to add a resolved clause that medallion purchasers should be consulted.
Public comment that followed focused heavily on medallion holders. Multiple long‑time taxi drivers and representatives from the Taxi Workers Alliance told the board they want meaningful debt relief for purchasers and asked that medallion holders be included in discussions with the SFMTA and the credit union. Callers described long waits on themedallion list, heavy personal financial losses and urged the board to send the matter to committee for a fuller hearing; they cited the New York agreement as a model achieved after sustained driver action there.
The board voted to adopt the amended resolution in open session; the clerk recorded the amendment and adoption without objection.
Why it matters: The resolution does not itself change contracts or loan terms, but it signals the board’s support for a negotiated approach to medallion debt relief and requires that purchased medallion holders have a consultative role in any compromise.
What’s next: The resolution asks the credit union and SFMTA to negotiate and includes board direction to involve medallion purchasers in those talks. Several speakers requested a committee hearing to examine specifics and to allow medallion purchasers to participate directly in negotiations.
