The dropping numbers of brokers in FMCSA's database doesn't tell the whole story, says a TIA rep, and the impact of the broker bond increase on the trucking industry will be minimal, he added.
In a number that's been increasing every day since Dec. 1, 7,561 freight brokers are now shut down due to their failure to comply with bond increase required by the MAP-21, says James Lamb, AIPBA ...
A broker trade association is appealing a new regulation that changed their minimum bond requirement from $10,000 to $75,000, which it says already has shut down 2,768 brokers not in compliance by Dec. 1 deadline.
A federal court has denied a broker trade association’s motion to halt an increase in the surety bond from $10,000 to $75,000.
AIPBA alleges FMCSA violation of the Administrative Procedure Act, given the agency did not conduct rulemaking to raise the minimum required broker bond from $10K to $75K, slated to go into effect October 1.
Federal rules pertaining to broker surety filings are in flux following congressional action last year that raised the minimum bond from $10,000 to $75,000. Still, basic procedures for filing are expected to remain.
The National Association for Minority Truckers has joined the Association of Independent Property Brokers and Agents in calling for legislative repeal of increased surety requirements for brokers and freight forwarders.
Rounding up reactions to recent coverage of a variety of issues at OverdriveOnline.com, in the magazine and on the Overdrive Facebook page.
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