Broker price gouging Archives - Maritime Shipping News

ArcBest: Broker costs increase to $500,000/year if owner-operators have their way

21 September 2020

Truck brokers will see a huge upswing in costs if federal regulators make a broker transparency change requested by owner-operators, according to logistics company ArcBest [NASDAQ: ARCB].

Barney Long, deputy general counsel for the Fort Smith, Arkansas-based company, told the Federal Motor Carrier Safety Administration (FMCSA) that the revisions being sought by the Owner-Operator Independent Drivers Association (OOIDA) will increase equipment, software programming and personnel costs to at least...

https://s29755.pcdn.co/news/arcbest-broker-costs-increase-to-500000year-if-owner-operators-have-their-way

USTA’s Landis confirms progress on broker investigation

25 June 2020

While the battle over truck broker transparency and alleged misconduct has cooled somewhat in recent weeks, the fight continues in offices and backrooms in Washington.

Broker-carrier relationships have often been contentious, but tanking spot rates during the early stages of the coronavirus pandemic brought with it new allegations of unethical behavior on the part of brokers by small business truckers.

What was initially anticipated as a weekend “May Day” rally in Washington by independent...

https://s29755.pcdn.co/news/ustas-landis-confirms-progress-on-broker-investigation

Broker transparency violations rare at FMCSA

10 June 2020

Owner-operators want regulators to clamp down on brokers that violate federal record-keeping laws, but such violations seem to be extremely rare – at least according to government enforcement data.

Since fiscal year 2014, there has not been a single enforcement action or fine levied related to 49 CFR 371.3, the federal law covering financial record requirements of property brokers in the trucking industry, according to data compiled by the Federal Motor Carrier Safety Administration (FMCSA).

FMCSA...

https://s29755.pcdn.co/news/broker-transparency-violations-rare-at-fmcsa

FMCSA yet to receive evidence of broker violations

29 May 2020

Despite widespread complaints by small business truckers that they are being gouged by freight brokers colluding against them, the industry’s top regulator has yet to see formal evidence backing their case.

“It’s a hot topic now – there were protesters here in D.C., and the President has spoken on some of these issues,” Federal Motor Carrier Safety Administration (FMCSA) Acting Administrator Jim Mullen told attendees of a webinar hosted by the Intermodal Association of North America, or IANA, on...

https://s29755.pcdn.co/news/fmcsa-yet-to-receive-evidence-of-broker-violations

Owner-operators seek DOT enforcement of broker regulations

24 May 202020 May 2020

Owner-operators have stepped up their fight for greater broker transparency by formally petitioning the Trump Administration to levy fines on brokers for non-compliance.

“Brokers have been deliberately skirting federal transparency regulations for decades,” said Owner-Operator Independent Drivers Association (OOIDA) President and CEO Todd Spencer. “We certainly don’t think exempting yourself from federal regulations is legal, but this is precisely what is happening. It has to stop.”

A source...

https://s29755.pcdn.co/news/owner-operators-seek-dot-enforcement-of-broker-regulations