FMCSA denies small business push for finacial security exemption

In 2015, FMCSA denied an application for an exemption from the $75,000 bond requirement for all property brokers and freight forwarders. Last month, the agency denied an application from the Small Business in Transportation Coalition seeking reconsideration of the 2015 decision for smaller-size brokers and freight forwarders, to ensure an uninterrupted supply chain.

After reviewing the coalition’s application and the public comments, FMCSA concluded in a December 16, 2021, Federal Register notice that the exemption request should be denied because it did not present a clear argument to show that financial security is not necessary and not in the public interest for the smaller entities.