The FMCSA sent its broker transparency rulemaking, RIN 2126-AC63, to the White House OIRA on August 27, clearing the final internal checkpoint before publication.
The brief
This rule, six years in development, would amend 49 CFR Part 371, requiring property brokers to maintain electronic transaction records and provide them to motor carriers or shippers within 48 hours of request. The proposal seeks to expand record contents to include charges, payments, freight descriptions, and claims, enhancing transparency for carriers and shippers in brokered transactions.
Takeaway
Brokers should review their current record-keeping systems and processes for compliance, particularly regarding electronic format and 48-hour access requirements, ahead of the rule's anticipated publication and comment period.
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https://www.freightwaves.com/news/broker-transparency-proposal-clears-fmcsa-and-heads-to-the-white-house