Capital One Racks Up Bad Cab Loans

Note: the graph below is a little strange to read….at least for me….

Capital One’s total value of taxi loans dropped from $1 billion in the quarter ending March 2015 to $690 million in the quarter ending December 31, 2016

Capital One’s non-performing loans as a % of the total value of taxi loans dropped from 1.1% in the quarter ending March 2015 to 51.46% in the quarter ending December 31, 2016

https://www.bloomberg.com/news/articles/2017-01-25/cab-drivers-struggle-to-pay-loans-as-uber-steals-thunder-chart

Lily Katz
January 25, 2017, 10:09 AM EST

The value of Capital One Financial Corp.’s taxi medallion lending portfolio has declined for at least eight consecutive quarters, while the percentage of those loans deemed nonperforming has skyrocketed. More than half of the company’s cab loans are now considered in or near default, up from 39 percent last quarter. The credit-card issuer noted as early as April 2015 that medallion values had softened due to competition from Uber Technologies Inc.

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