Change in Certifying Accountants - Form 8-K

Item 4.01 Changes in Registrant's Certifying Accountant.

On April 4, 2024, Medallion Financial Corp. (the "Company") was notified by its independent registered public accounting firm, Mazars USA LLP ("Mazars"), of its decision to resign as the Company's independent registered public accounting firm effective with the filing of the Company's Quarterly Report on Form 10-Q for the quarter ended March 31, 2024 and no later than May 31, 2024.

Mazars's reports on the Company's consolidated financial statements as of December 31, 2023 and December 31, 2022 and for each of the years in the three-year period ended December 31, 2023 and the effectiveness of internal control over financial reporting as of December 31, 2023 did not contain any adverse opinion or a disclaimer of opinion, nor were they qualified or modified as to uncertainty, audit scope, or accounting principles.

During the fiscal years ended December 31, 2023 and December 31, 2022 and the subsequent interim periods through the date of this Form 8-K, there were: (i) no disagreements (within the meaning of Item 304(a)(1)(iv) of Regulation S-K and the related instructions) between the Company and Mazars on any matters of accounting principles or practices, financial statement disclosure, or auditing scope or procedure, which, if not resolved to the satisfaction of Mazars, would have caused it to make reference thereto in its reports; and (ii) no reportable events within the meaning of Item 304(a)(1)(v) of Regulation S-K and the related instructions.

The Company provided Mazars with a copy of this Current Report on Form 8-K prior to its filing with the Securities and Exchange Commission and requested that Mazars furnish the Company with a letter addressed to the Securities and Exchange Commission stating whether or not Mazars agrees with the statements made herein and, if not, stating the respects in which it does not agree. The Company has received the requested letter from Mazars wherein Mazars has confirmed its agreement to the Company's disclosures with respect to Mazars in this Current Report. A copy of Mazars' letter, dated April 10, 2024, is filed as Exhibit 16.1 herewith.