Broker Transparency Proposal Gains Momentum
The Federal Motor Carrier Safety Administration has sent its supplemental notice of proposed rulemaking on broker transparency to the White House Office of Management and Budget for review, moving the long-delayed proposal into the final stage of executive branch review.
Proposal Moves to OMB Review
FMCSA submitted the rulemaking to the Office of Information and Regulatory Affairs, an office within OMB, on Aug. 27. The submission clears the agency’s final internal review checkpoint before the proposal can be published for public comment.
The proposal has missed two previously anticipated target dates, adding to frustration among motor carriers and truck drivers who have been seeking greater access to transaction records from freight brokers.
Electronic Records and 48-Hour Response
The supplemental proposal includes four provisions intended to improve transparency in broker transactions. One provision would require brokers to maintain transaction records in electronic format and provide copies of those records within 48 hours when requested.
The records would give motor carriers greater visibility into the financial details and communications associated with a brokered shipment. The submission does not represent a final rule, and additional changes could be made during the review and public-comment process.
Next Steps
OMB’s review must be completed before FMCSA can publish the proposal in the Federal Register. Once published, the notice is expected to open a public-comment period during which carriers, brokers and other industry stakeholders can provide feedback.
FMCSA has not yet announced when the proposal will be published or when a final rule could take effect.
