FMCSA Misses Timeline on Broker Transparency Rules
When it comes to the Federal Motor Carrier Safety Administration (FMCSA) and its plans to regulate the trucking industry, most ideas such as speed limiters are frowned upon by drivers who are willing to let FMCSA take as much time as it needs to get that underway. But when there are promises of regulations to help the average trucker, such as broker transparency rules, a hold up can feel like a betrayal.
Details
Starting in September 2023 and repeated a year later, the FMCSA promised a Notice of Proposed Rulemaking regarding broker transparency regulations to get the ball rolling by Halloween. The day of trick-or-treating has since come and gone, with no news in sight.
The regulation in question would be an amendment of 49 CFR 373.1, which handles the right of the carriers to review the records for transactions it has done with the broker. At the news of no news from the FMCSA, the Owner-Operator Independent Driver Association (OOIDA) President Todd Spencer was cross, with some choice words.
“It’s inexplicable that the FMCSA continues to shirk its basic responsibility and again is kicking the can down the road on a regulation that has been required since 1980. The 150,000 small business truckers OOIDA represents have a simple message to FMCSA: do your damn job!”
The OOIDA has been petitioning the FMCSA for additional broker transparency since at least 2020, as we have reported, while the ongoing battle has been happening since at least 2005.
Conclusion
Though drivers generally support a further increase in transparency, brokers are generally opposed to it, primarily saying that it violates the free market principles upon which America is founded. Just as Todd Spencer has had in 2024, the Transportation Intermediaries Association president Robert Voltmann in 2005 had his own bone to pick regarding the subject.
With the debate over broker transparency regulation changes having been going on for approximately two decades at this point, it leads both sides of the equation wondering if there will ever be a conclusion. Sometimes the FMCSA taking its time can be considered a good thing, but when people have waited for around 20 years, it may be time for a change.
Other Trucking Articles You May Like
- INFRA Grants $30 Million to Bolster Trucking Infrastructure
- Truck Manufacturers Optimistic for 2025
- Drug and Alcohol Clearinghouse Approaches Phase Two
- Port of Los Angeles Breaks Record
- Another EPA Lawsuit Manifests
ABOUT TOPMARK FUNDING
TopMark Funding is a top-rated semi-truck financing and trailer financing company located in Roseville, CA. We specialize in commercial trucking and heavy equipment. Our mission is to become your long-term financial partner by helping you grow your trucking business and fleet.
We’re not here for the short term, we’re on the long haul with you!
We have financing options for trailers, semi-trucks, commercial trucks, and small businesses. We have great rates, low down payments, and flexible monthly payments regardless of credit history.
Learn more about Trailer Financing.
Fill out the contact form or give us a call at (866) 627-6644. One of our truck financing specialists will contact you as soon as possible to go over your truck lease needs and learn more about you and your business financing goals.
