We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

Capital One Sued For Quitting Taxi Venture, Backing Uber

Law360, San Francisco (July 1, 2015, 8:06 PM EDT) -- Capital One NA was hit with a lawsuit in the Supreme Court of New York Tuesday claiming that the bank abandoned an $80 million credit facility partnership with Transit Funding Associates LLC, which loans money to Chicagoans seeking taxi medallions, so it could partner with ride-hailing titan Uber.

TFA claims that Capital One lured the Chicago lender away from its relationship with Cole Taylor Bank in 2009, agreeing to back TFA's medallion financing program. At the time, Capital One was “eager” to break into the market...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.