O’Brien Staley Partners: be part of the solution!

We won historic victory for medallion owners drivers who were downing debt. on November 3, 2021 – after more than a year of advocacy by New York City taxi drivers – Marblegate Asset Management and the New York Taxi Workers Alliance came to a deal with the City of New York wherein the City agreed to guarantee medallion loans in exchange for lenders’ restructuring the loans under specified terms. These terms included a principal balance of no more than $170,000, fully amortized over 20 years at no more than 5% interest rate, which would yield a monthly payment of $1,122. In addition to the guarantee, the City has agreed to provide $30,000 per loan in direct cash payments to lenders as part of the program. The deal is widely regarded as favorable to lenders and drivers – and, along with Marblegate Asset Management, many lenders have already agreed to participate.

Over the last few month, O’Brien Staley Partners, a Minnesota based private equity fund has been seizing medallions and foreclosing on drivers. We, along with more that 60 New York elected officials, are calling on the O’Brien Staley Partners stop seizing medallions and to be part of the solution.

NY Elected Officials are Standing with Drivers

A coalition of NYers won debt relief for taxi drivers

But O'Brien-Staley Partners—renegade lender—refuses to join the deal & is harassing drivers

I'm standing w/ @NYTWA @NydiaVelazquez @AOC @RitchieTorres @JessicaRamos @ZohranKMamdani @ShahanafromBK

We have our cabbies' backs pic.twitter.com/wLMBoZkzcK

— Chuck Schumer (@SenSchumer) March 16, 2022

We won a major victory for our taxi drivers, but 1 lender refuses to join this life-saving agreement: O’Brein Staley Partners@SenSchumer, @AOC, @jessicaramos, @ShahanaFromBK, myself & 60+ NY electeds are calling on them to stop preying on @NYTWA drivershttps://t.co/LBoMQOqCM1

— Zohran Kwame Mamdani (@ZohranKMamdani) March 16, 2022

How Can You Help?

We are asking New Yorkers to join us in call on O’Brien Staley Parter to be part of the solution. See our flyer bellow where you can learn more about the predatory practice that O’Brien Staley Partners has been engaged.

Call O’Brien Staley Partners at 612-770-7050

Short Script: My name is ____________. New York City medallion owner drivers fought hard to secure a deal with the New York City to end the medallion debt crisis. I am calling to ask O’Brien Staley Partners to stop seizing medallion and foreclosing on drivers and join the New York City Medallion Guaranty program. It is time to solve this crisis once and for all and allow owner-drivers to get their lives back. Be part of the solution!

Call Vedder Price at 312-609-5043

Short Script: My name is ____________. New York City medallion owner drivers fought hard to secure a deal with the New York City to end the medallion debt crisis. I am calling to ask Vedder Price to urge O’Brien Staley Partners to join the New York City Medallion Guaranty program and to stop seizing medallion and foreclosing on drivers. It is time to solve this crisis once and for all and allow owner-drivers to get their lives back. Be part of the solution!