The fight to clean up the truck broker industry

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Truck brokers in the US often a get a bad name, operating in the margins between shippers and the country’s 500,000 haulage companies. However, recent legislation, which increased the bond that brokers have to lay down to $75,000, could go some way to improving its image, by forcing the less financially well-managed companies out of business. Since its introduction in December, the law has been blamed for the demise of 7,000 of 24,000 registered truck brokerage firms, which may not be a bad thing. “Honestly, if you can’t get a bank or bonding company to trust you for $75,000, why should anyone else trust you?”