We were hired by a large credit union that was acquiring the taxi medallion portfolio of a distressed credit union. Specifically, we were asked to perform a risk-based review of the distressed credit union’s entire taxi medallion portfolio to determine whether the credit union was appropriately valuing the loans or whether they were further impaired. Our findings were summarized in a comprehensive report that was used by the acquiring credit union to negotiate the portfolio acquisition price and carrying value on its financial statements after the acquisition was complete.

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