Queens Rep. Joseph Crowley wants Mayor de Blasio to step in to help the struggling yellow taxi industry and its lenders.
"I believe the city can no longer afford to turn a blind eye to this matter," Crowley, the vice chairman of the House Democratic Caucus and chairman of the Queens Democratic party, wrote in a letter Wednesday to fellow Dem de Blasio.
New app-based car services like Uber have led to a big drop in value of the yellow cab medallions and have put pressure on the industry lenders, including one that was recently seized by the state and put into conservatorship.
Crowley wrote that without swift city help, the situation will lead to a "further demise of taxi medallion lenders, disruption for depositors, potential taxpayer exposure and the loss of good-paying jobs for hard-working people."
He called on de Blasio to find local legal or financial solutions to assist the industry and its lenders during the transition to more ride-sharing options and "rapidly changing market conditions."