10/11/23 - First letter and 28-page analysis sent to the Board and Management of Medallion Financial Corp. outlining ZimCal’s concerns.
First letter and analysis sent to the Board and Senior Executives outlining ZimCal’s concerns after 2Q23 financial results. The analysis highlighted concerns about inadequate Board oversight, excessive compensation, bonuses tied to non-recurring Taxi Medallion recoveries rather than core performance, declining core performance and high probability risks in credit and with MFIN’s business model.