FMCSA calls for volunteers to join task force to crack down on predatory lease-purchase agreements
On Wednesday, the Federal Motor Carrier Safety Administration (FMCSA) announced that they will be accepting applications for a task force focusing on truck leasing agreements.
From now through Friday, May 6, 2022, the FMCSA will accept applications for the Truck Leasing Task Force (TLTF). The TLTF will be asked to evaluate the impacts of commercial motor vehicle (CMV) lease agreements and discuss best practices for future agreements.
The agency is looking for at least ten members representing labor organizations, motor carriers, consumer protection groups, legal professionals, owner-operators, and other relevant businesses.
“The Task Force will be instrumental in expanding our understanding of the financial impacts of truck leasing and will reinforce our commitment to quality of life and safety for professional truck drivers,” said FMCSA Acting Administrator Robin Hutcheson. “We ask those who are interested in joining to reach out so we can better support CMV drivers together.”
The goals of the TLTF include:
- Exploring predatory truck leasing arrangements in coordination with DOL and the Consumer Financial Protection Bureau
- Evaluating common truck lease agreements and their terms, identifying and reviewing those that are potentially inequitable in the motor carrier industry
- Reviewing agreements available to drayage drivers at ports
- Studying the impact of truck leasing agreements on the net compensation of commercial motor vehicle drivers
- Examining truck leasing arrangements and financing arrangements among motor carriers, entry-level drivers, driver training providers, and others involved in the industry
- Assessing resources that assist CMV drivers in reviewing the financial impacts of leasing agreements
Learn more about the TLTF here.