UPDATED -- Nearly 10% of the nation’s freight brokers no longer have their licenses following new federal regulations that took effect requiring a higher bonding amount, while another source says the number is even higher.
Group Loses Appeal to Stop Broker Bond Hike
The Association of Independent Property Brokers & Agents lost a challenge on Tuesday before the U.S. Court of Appeals for the 11th Circuit to delay enforcement of the Federal Motor Carrier Safety Administration’s new broker bond requirement that takes full effect on Dec. 1.