Private equity firm in Minnesota joins New York City's debt relief program for taxi drivers

NEW YORK -- New York City taxi drivers who took a long drive for debt relief are claiming victory.

On Sunday, more than a dozen cabbies started driving to Minnesota to protest Monday at a private equity firm that holds about 300 loans on taxi medallions.

Tuesday, O'Brien-Staley Partners says it will join the city's debt relief program for cabbies.

Sen. Chuck Schumer had said that the company had refused to participate.

The program includes a city-backed guarantee of the loan and halts medallion seizures.