This article cites the new restrictions and regulations that were put into effect by the Obama Administration, concerning the “Sharing Economy” and how it pertains to Uber, Lyft and like companies.
With the new President Elect Donald Trump, things are going through a huge change. Taxi cab companies are being put through more stringent background checks, including fingerprinting, across the board. From drivers to owners, even investors. Full insurance will be enforced and periodically verified. States will also limit medallion and license distribution.
We are looking at a “throwback” to the Reagan era. So for all of the people out there involved in this industry and people who patron it….there is light at the end of this tunnel.