87532 Federal Register / Vol. 89, No. 213 / Monday, November 4, 2024 / Proposed Rules 

new inspection of the project, adjust the 

PHA’s score, or perform other 

reexamination of information, as 

appropriate in light of the nature of the 

error that occurred. A new score will be 

issued and an appropriate performance 

designation made by HUD. HUD’s 

decision on appeal of an assessment 

score, or issuance of a troubled 

performer designation will be final 

agency action. 

(2) HUD will issue a written decision 

on all appeals made under this section. 

■ 33. Revise § 902.111 to read as 

follows: 

§ 902.111 Remedies for troubled small 

rural PHAs. 

The remedies for small rural PHAs 

with troubled public housing programs 

that remain troubled under § 902.108 

will be the same as those remedies for 

PHAs assessed under PHAS as 

described in § 902.83. 

Dominique Blom, 

General Deputy Assistant Secretary for Public 

and Indian Housing. 

[FR Doc. 2024–25469 Filed 11–1–24; 8:45 am] 

BILLING CODE 4210–67–P 

DEPARTMENT OF TRANSPORTATION 

Federal Motor Carrier Safety 

Administration 

49 CFR Parts 386 and 387 

[Docket No. FMCSA–2024–0280] 

RIN 2126–AC76 

Broker and Freight Forwarder 

Financial Responsibility; Extension of 

Compliance Date 

AGENCY: Federal Motor Carrier Safety 

Administration (FMCSA), Department 

of Transportation (DOT). 

ACTION: Notice of proposed rulemaking 

(NPRM). 

SUMMARY: FMCSA proposes to amend its 

November 16, 2023, final rule, ‘‘Broker 

and Freight Forwarder Financial 

Responsibility,’’ by extending the 

compliance date for certain provisions 

from January 16, 2025, to January 16, 

2026. This action is being proposed 

because FMCSA has determined that 

only its forthcoming online registration 

system will be used to accept filings and 

track notifications, and this 

functionality will not be added to its 

legacy systems. As the new system is 

not expected to be available before 

January 16, 2025, FMCSA proposes to 

extend the compliance date to provide 

regulated entities time to begin using 

and familiarizing themselves with the 

system before compliance is required. 

DATES: Comments must be received on 

or before November 19, 2024. Comments 

should be limited to the proposed 

change in the compliance date. 

ADDRESSES: You may submit comments 

identified by Docket Number FMCSA– 

2024–0280 using any one of the 

following methods: 

• Federal Rulemaking Portal: Go to 

https://www.regulations.gov. Follow the 

online instructions for submitting 

comments. 

• Mail: Dockets Operations, U.S. 

Department of Transportation, 1200 

New Jersey Avenue SE, West Building, 

Ground Floor, Washington, DC 20590– 

0001. 

• Hand Delivery or Courier: Dockets 

Operations, U.S. Department of 

Transportation, 1200 New Jersey 

Avenue SE, West Building, Ground 

Floor, Washington, DC 20590–0001, 

between 9 a.m. and 5 p.m., Monday 

through Friday, except Federal holidays. 

To be sure someone is there to help you, 

please call (202) 366–9317 or (202) 366– 

9826 before visiting Dockets Operations. 

• Fax: (202) 493–2251. 

FOR FURTHER INFORMATION CONTACT: Ana 

Alvarez, Financial Analyst, Office of 

Registration, Financial Responsibility 

Filings Division, FMCSA, 1200 New 

Jersey Avenue SE, West Building, 6th 

Floor, Washington, DC 20590; (202) 

366–0401; ana.alvarez@dot.gov. If you 

have questions on viewing or submitting 

material to the docket, call Dockets 

Operations at (202) 366–9826. 

SUPPLEMENTARY INFORMATION: FMCSA 

organizes this NPRM as follows: 

I. Public Participation and Request for 

Comments 

A. Submitting Comments 

B. Viewing Comments and Documents 

C. Privacy 

II. Executive Summary 

A. Purpose and Summary of the Regulatory 

Action 

B. Costs and Benefits 

III. Abbreviations 

IV. Legal Basis 

V. Background 

VI. Discussion of Proposed Rulemaking 

VII. Regulatory Analyses 

A. E.O. 12866 (Regulatory Planning and 

Review), E.O. 13563 (Improving 

Regulation and Regulatory Review), E.O. 

14094 (Modernizing Regulatory Review), 

and DOT Regulatory Policies and 

Procedures 

B. Regulatory Flexibility Act (Small 

Entities) 

C. Assistance for Small Entities 

D. Unfunded Mandates Reform Act of 1995 

E. Paperwork Reduction Act 

F. E.O. 13132 (Federalism) 

G. Privacy 

H. E.O. 13175 (Indian Tribal Governments) 

I. National Environmental Policy Act of 

1969 

J. Rulemaking Summary 

I. Public Participation and Request for 

Comments 

A. Submitting Comments 

If you submit a comment, please 

include the docket number for this 

NPRM (FMCSA–2024–0280), indicate 

the specific section of this document to 

which your comment applies, and 

provide a reason for each suggestion or 

recommendation. You may submit your 

comments and material online or by fax, 

mail, or hand delivery, but please use 

only one of these means. FMCSA 

recommends that you include your 

name and a mailing address, an email 

address, or a phone number in the body 

of your document so FMCSA can 

contact you if there are questions 

regarding your submission. 

To submit your comment online, go to 

https://www.regulations.gov/docket/ 

FMCSA-2024-0280/document, click on 

this NPRM, click ‘‘Comment,’’ and type 

your comment into the text box on the 

following screen. 

If you submit your comments by mail 

or hand delivery, submit them in an 

unbound format, no larger than 81⁄2 by 

11 inches, suitable for copying and 

electronic filing. 

FMCSA will consider all comments 

and material received during the 

comment period. 

Confidential Business Information (CBI) 

CBI is commercial or financial 

information that is both customarily and 

actually treated as private by its owner. 

Under the Freedom of Information Act 

(5 U.S.C. 552), CBI is exempt from 

public disclosure. If your comments 

responsive to the NPRM contain 

commercial or financial information 

that is customarily treated as private, 

that you actually treat as private, and 

that is relevant or responsive to the 

NPRM, it is important that you clearly 

designate the submitted comments as 

CBI. Please mark each page of your 

submission that constitutes CBI as 

‘‘PROPIN’’ to indicate it contains 

proprietary information. FMCSA will 

treat such marked submissions as 

confidential under the Freedom of 

Information Act, and they will not be 

placed in the public docket of the 

NPRM. 

Submissions containing CBI should 

be sent to Mr. Brian Dahlin, Chief, 

Regulatory Evaluation Division, Office 

of Policy, FMCSA, 1200 New Jersey 

Avenue SE, Washington, DC 20590– 

0001 or via email at brian.g.dahlin@

dot.gov. At this time, you need not send 

a duplicate hardcopy of your electronic 


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1Although 49 CFR 387.403 is currently 

suspended, it contains the same language making 

§ 387.307 applicable to freight forwarders. Thus, 

when the suspension is ultimately lifted, it will 

have no effect on the analysis here. 

CBI submissions to FMCSA 

headquarters. Any comments FMCSA 

receives not specifically designated as 

CBI will be placed in the public docket 

for this rulemaking. 

B. Viewing Comments and Documents 

To view any documents mentioned as 

being available in the docket, go to 

https://www.regulations.gov/docket/ 

FMCSA-2024-0280/document and 

choose the document to review. To view 

comments, click this NPRM, then click 

‘‘Browse Comments.’’ If you do not have 

access to the internet, you may view the 

docket online by visiting Dockets 

Operations on the ground floor of the 

DOT West Building, 1200 New Jersey 

Avenue SE, Washington, DC 20590– 

0001, between 9 a.m. and 5 p.m., 

Monday through Friday, except Federal 

holidays. To be sure someone is there to 

help you, please call (202) 366–9317 or 

(202) 366–9826 before visiting Dockets 

Operations. 

C. Privacy 

In accordance with 5 U.S.C. 553(c), 

DOT solicits comments from the public 

to better inform its regulatory process. 

DOT posts these comments, including 

any personal information the 

commenter provides, to 

www.regulations.gov as described in the 

system of records notice (DOT/ALL 14— 

Federal Docket Management System 

(FDMS)), which can be reviewed at 

https://www.transportation.gov/ 

individuals/privacy/privacy-act-systemrecordsnotices. The comments are 

posted without edit and are searchable 

by the name of the submitter. 

II. Executive Summary 

A. Purpose and Summary of the 

Regulatory Action 

FMCSA proposes to extend certain 

compliance dates in the 2023 final rule, 

‘‘Broker and Freight Forwarder 

Financial Responsibility’’ (88 FR 78656, 

Nov. 16, 2023), from January 16, 2025, 

to January 16, 2026, creating a single 

compliance date for all provisions in the 

rule. This extension will ensure that 

parties required to comply with the 

regulations have sufficient opportunity 

to register in the new system and begin 

using it, and that FMCSA is able to 

properly process and respond to such 

filings. The provisions affected by this 

extension are: 

1. Immediate suspension of broker/ 

freight forwarder operating authority. 

When a broker or freight forwarder’s 

available financial security falls below 

$75,000, FMCSA shall suspend its 

operating authority registration. 

2. Surety or trust responsibilities in 

cases of broker/freight forwarder 

financial failure or insolvency. If a 

surety/trustee becomes aware that a 

broker or freight forwarder is 

experiencing financial failure or 

insolvency, it must notify FMCSA and 

initiate cancelation of the financial 

responsibility. 

3. Enforcement authority and 

penalties for financial responsibility 

providers who do not comply with the 

regulations. FMCSA is incorporating the 

statutorily mandated penalties into its 

regulations. After notice and an 

opportunity for a hearing, surety 

companies or financial institutions who 

violate 49 CFR 387.307 will be ineligible 

to provide financial responsibility for 3 

years and may also be subject to a civil 

penalty. 

This extension is necessary so that 

FMCSA can implement its new online 

registration system and make it 

available to entities required to register 

and make filings in the system. This 

extension is also intended to provide 

users with an opportunity to begin 

using, and become familiar with, the 

new online registration system before 

compliance with the system becomes 

mandatory. The planned release for the 

new modernized registration system is 

2025. 

B. Costs and Benefits 

The 2023 Broker and Freight 

Forwarder Financial Responsibility final 

regulatory impact analysis (RIA) 

estimated costs for compliance and 

implementation among brokers, freight 

forwarders, surety bond and trust fund 

providers, and the Federal government. 

This proposed rule would delay certain 

provisions requiring filings in the online 

registration system until January 16, 

2026, resulting in all provisions of the 

rule becoming effective at the same 

time. 

Despite the delayed compliance for 

certain provisions, FMCSA finds that 

the benefits stipulated in the 2023 final 

rule remain unchanged by this proposed 

rule. The provision mandating that 

brokers and freight forwarders maintain 

assets readily available in trust funds, 

will still take effect as originally 

scheduled, on January 16, 2026. Brokers 

and freight forwarders, surety bond and 

trust fund providers would incur cost 

savings by not being required to file 

documentation relating to certain other 

provisions until January 16, 2026. 

FMCSA would also incur cost savings in 

delaying the enforcement of several 

provisions of the 2023 final rule. In 

conclusion, the Agency finds that this 

proposed rule would maintain all 

benefits and reduce costs by a de 

minimis amount for all parties subject to 

the 2023 final rule. 

III. Abbreviations 

CBI Confidential Business Information 

CE Categorical exclusion 

CFR Code of Federal Regulations 

DOT Department of Transportation 

E.O. Executive Order 

FMCSA Federal Motor Carrier Safety 

Administration 

FR Federal Register 

NPRM Notice of proposed rulemaking 

OMB Office of Management and Budget 

PIA Privacy Impact Assessment 

PII Personally Identifiable Information 

PTA Privacy Threshold Assessment 

RIA Regulatory Impact Analysis 

URS Unified Registration System 

UMRA Unfunded Mandates Reform Act 

U.S.C. United States Code 

IV. Legal Basis 

The legal basis of the Broker and 

Freight Forwarder Financial 

Responsibility final rule, set forth at 88 

FR 78658, also serves as the legal basis 

for this NPRM. The statutory authority 

identified in that discussion is 49 U.S.C. 

13906, which contains requirements for 

the financial security of brokers and 

freight forwarders and directs the 

Secretary to issue regulations to 

implement and enforce these 

requirements. Authority to carry out and 

enforce these provisions has been 

delegated to the Administrator of 

FMCSA (49 CFR 1.87(a)(5)). 

As discussed in the final rule, 49 CFR 

387.403T(c) makes any requirements 

applicable to broker of property surety 

bonds and trust funds in § 387.307 

applicable to the surety bond or trust 

fund required of freight forwarders as 

well.1 Therefore, any time this NPRM 

refers to brokers, the same requirements 

are also applicable to freight forwarders. 

V. Background 

On November 16, 2023, FMCSA 

published a final rule adopting 

regulations to implement 49 U.S.C. 

13906(b) and (c) (88 FR 78656). The 

final rule became effective 60 days later, 

on January 16, 2024. However, 

compliance with the provisions relating 

to immediate suspension, financial 

failure or insolvency, and penalties for 

trust or surety providers who fail to 

comply with the regulations is not 

required until January 16, 2025, and full 

compliance with all of the final rule’s 

provisions is not required until 2 years 

after the effective date, beginning on 

January 16, 2026. 


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87534 Federal Register / Vol. 89, No. 213 / Monday, November 4, 2024 / Proposed Rules 

2See 88 FR 78657 and 78666, Nov. 16, 2023. 

3Public Law 104–121, 110 Stat. 857 (Mar. 29, 

1996). 

VI. Discussion of the Proposed 

Rulemaking 

FMCSA proposes to extend the 

compliance date for the provisions of 

the Broker and Freight Forwarder 

Financial Responsibility rule relating to 

immediate suspension, financial failure 

or insolvency, and penalties for trust or 

surety providers who fail to comply 

with the regulations from January 16, 

2025, to January 16, 2026, by amending 

the expiration date of the temporary rule 

governing current practices, § 387.307T, 

and the compliance dates in § 387.307. 

This extension will create a single 

compliance date for all provisions in the 

rule, allow FMCSA to implement the 

new online registration system, and 

ensure that filers are familiar with the 

online registration system and able to 

perform all duties mandated by the rule 

prior to the compliance date. 

The final rule discusses and requires 

online filing of documents. FMCSA 

always intended to build this 

functionality into its forthcoming online 

registration system.2 After engaging 

with stakeholders and work developing 

the new platform, the Agency has 

determined that it would not be an 

efficient use of resources to add the 

functionality to the legacy registration 

system. Instead, the Agency is focused 

on implementing the new online 

registration system and publishing the 

NPRM concerning the new system, as 

described in the Unified Agenda (see 

Regulation Identification Number 2126– 

AB56), as expeditiously as possible. By 

extending the compliance date for the 

Broker and Freight Forwarder Financial 

Responsibility final rule, FMCSA 

intends to allow the regulated 

community sufficient time to begin 

utilizing the new system and become 

familiar with it before compliance is 

required. 

In addition, FMCSA finds that 

without certain automated processes 

currently under development in the new 

system, effective compliance 

management would be compromised. 

Specifically, the Agency believes that 

tracking and processing drawdown 

notifications manually would be 

inefficient, leading to delays, higher 

administrative costs, and potential 

compliance risks for both FMCSA and 

the industry. The ability to efficiently 

suspend the operating authority of 

brokers and freight forwarders who fail 

to maintain the required financial 

security within the 7-day regulatory 

time frame depends upon both the 

regulated entities and the Agency being 

able to utilize a fully functional online 

filing system. For more detailed 

information regarding the launching of 

the new online registration system, 

stakeholders are encouraged to visit 

https://www.fmcsa.dot.gov/registration/ 

resources-hub. 

For the reasons mentioned above, as 

well as to provide the public with the 

notice and opportunity for comment 

required by the Administrative 

Procedure Act (5 U.S.C. 553) FMCSA 

proposes to extend the compliance date 

for the provisions relating to immediate 

suspension, financial failure or 

insolvency, and penalties for trust or 

surety providers who fail to comply 

with the regulations. The new 

compliance date, January 16, 2026, 

would align with the date already set for 

the other provisions in the rule. 

VII. Regulatory Analyses 

A. Executive Order (E.O.) 12866 

(Regulatory Planning and Review), E.O. 

13563 (Improving Regulation and 

Regulatory Review), E.O. 14094 

(Modernizing Regulatory Review), and 

DOT Regulatory Policies and Procedures 

FMCSA has considered the impact of 

this NPRM under E.O. 12866 (58 FR 

51735, Oct. 4, 1993), Regulatory 

Planning and Review, as supplemented 

by E.O. 13563 (76 FR 3821, Jan. 21, 

2011), Improving Regulation and 

Regulatory Review, and amended by 

E.O. 14094 (88 FR 21879, Apr. 11, 

2023), Modernizing Regulatory Review, 

as well as the impact under DOT 

regulatory policies and procedures 

(DOT Order 2100.6A, dated June 7, 

2021). This NPRM is not a significant 

regulatory action under section 3(f) of 

E.O. 12866, as amended. Accordingly, 

OMB has not reviewed it under that 

E.O. 

B. Regulatory Flexibility Act (Small 

Entities) 

The Regulatory Flexibility Act (5 

U.S.C. 601 et seq.), as amended by the 

Small Business Regulatory Enforcement 

Fairness Act of 1996 3 requires Federal 

agencies to consider the effects of the 

regulatory action on small business and 

other small entities and to minimize any 

significant economic impact. The term 

small entities comprises small 

businesses and not-for-profit 

organizations that are independently 

owned and operated and are not 

dominant in their fields, and 

governmental jurisdictions with 

populations of less than 50,000 (5 U.S.C. 

601(6)). Accordingly, DOT policy 

requires an analysis of the impact of all 

regulations on small entities, and 

mandates that agencies strive to lessen 

any adverse effects on these businesses. 

This proposed rule would extend the 

compliance date for specific provisions 

of the 2023 final rule, ‘‘Broker and 

Freight Forwarder Financial 

Responsibility,’’ to January 16, 2026. 

The provisions already scheduled for 

compliance on January 16, 2026, would 

not be affected. The rule would impact 

small entities such as surety bond and 

trust fund providers, brokers, and 

freight forwarders. The extension would 

provide small entities with additional 

time to register in the new online 

registration system and understand its 

operations and functionalities. By 

delaying the submission of 

documentation for certain provisions 

until January 16, 2026, these entities 

would also realize de minimis cost 

savings. 

Consequently, I certify that this action 

would not have a significant economic 

impact on a substantial number of small 

entities. 

C. Assistance for Small Entities 

In accordance with section 213(a) of 

the Small Business Regulatory 

Enforcement Fairness Act of 1996 (Pub. 

L. 104–121, 110 Stat. 857), FMCSA 

wants to assist small entities in 

understanding this proposed rule so 

they can better evaluate its potential 

effects on themselves and participate in 

the rulemaking initiative. If the 

proposed rule would affect your small 

business, organization, or governmental 

jurisdiction and you have questions 

concerning its provisions or options for 

compliance, please consult the person 

listed under FOR FURTHER INFORMATION

CONTACT. 

Small businesses may send comments 

on the actions of Federal employees 

who enforce or otherwise determine 

compliance with Federal regulations to 

the Small Business Administration’s 

Small Business and Agriculture 

Regulatory Enforcement Ombudsman 

(Office of the National Ombudsman, see 

https://www.sba.gov/about-sba/ 

oversight-advocacy/office-nationalombudsman) and the Regional Small 

Business Regulatory Fairness Boards. 

The Ombudsman evaluates these 

actions annually and rates each agency’s 

responsiveness to small business. If you 

wish to comment on actions by 

employees of FMCSA, call 1–888–REG– 

FAIR (1–888–734–3247). DOT has a 

policy regarding the rights of small 

entities to regulatory enforcement 

fairness and an explicit policy against 

retaliation for exercising these rights. 


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4Public Law 108–447, 118 Stat. 2809, 3268, note 

following 5 U.S.C. 552a (Dec. 4, 2014). 

5Public Law 107–347, sec. 208, 116 Stat. 2899, 

2921 (Dec. 17, 2002). 

D. Unfunded Mandates Reform Act of 

1995 

The Unfunded Mandates Reform Act 

of 1995 (2 U.S.C. 1531–1538) (UMRA) 

requires Federal agencies to assess the 

effects of their discretionary regulatory 

actions. The Act addresses actions that 

may result in the expenditure by State, 

local, or Tribal government, in the 

aggregate, or by the private sector of 

$200 million (which is the value 

equivalent of $100 million in 1995, 

adjusted for inflation to 2023 levels) or 

more in any 1 year. This proposed rule 

would not result in such an 

expenditure, so the analytical 

requirements of UMRA do not apply. 

E. Paperwork Reduction Act 

Due to the proposed change of 

compliance date, the existing 

Information Collection Requirements 

pertaining to broker and freight 

forwarder financial responsibilities 

would be updated at a later date. 

F. E.O. 13132 (Federalism) 

A rule has implications for federalism 

under section 1(a) of E.O. 13132 if it has 

‘‘substantial direct effects on the States, 

on the relationship between the national 

government and the States, or on the 

distribution of power and 

responsibilities among the various 

levels of government.’’ 

FMCSA has determined that this 

proposal would not have substantial 

direct costs on or for States, nor would 

it limit the policymaking discretion of 

States. Nothing in this document 

preempts any State law or regulation. 

Therefore, this proposal would not have 

sufficient federalism implications to 

warrant the preparation of a Federalism 

Impact Statement. 

G. Privacy 

The Consolidated Appropriations Act, 

2005,4 requires the Agency to assess the 

privacy impact of a regulation that will 

affect the privacy of individuals. This 

NPRM would not change any previously 

analyzed collections of personally 

identifiable information (PII). 

The Privacy Act (5 U.S.C. 552a) 

applies only to Federal agencies and any 

non-Federal agency that receives 

records contained in a system of records 

from a Federal agency for use in a 

matching program. 

The E-Government Act of 2002,5

requires Federal agencies to conduct a 

PIA for new or substantially changed 

technology that collects, maintains, or 

disseminates information in an 

identifiable form. No new or 

substantially changed technology will 

collect, maintain, or disseminate 

information as a result of this proposed 

rule. Accordingly, FMCSA has not 

conducted a PIA for this proposed rule. 

However, FMCSA will publish a PIA 

and a System of Records Notice 

covering all information that will be 

collected in the new online registration 

system. 

In addition, the Agency submitted a 

Privacy Threshold Assessment (PTA) to 

evaluate the risks and effects the 

proposed rulemaking might have on 

collecting, storing, and sharing 

personally identifiable information. The 

PTA has been submitted to FMCSA’s 

Privacy Officer for review and 

preliminary adjudication and will be 

submitted to DOT’s Privacy Officer for 

review and final adjudication. 

H. E.O. 13175 (Indian Tribal 

Governments) 

This rulemaking does not have Tribal 

implications under E.O. 13175, 

Consultation and Coordination with 

Indian Tribal Governments, because it 

would not have a substantial direct 

effect on one or more Indian Tribes, on 

the relationship between the Federal 

Government and Indian Tribes, or on 

the distribution of power and 

responsibilities between the Federal 

Government and Indian Tribes. 

I. National Environmental Policy Act of 

1969 

FMCSA analyzed this proposed rule 

pursuant to the National Environmental 

Policy Act of 1969 (42 U.S.C. 4321 et 

seq.) and determined this action is 

categorically excluded from further 

analysis and documentation in an 

environmental assessment or 

environmental impact statement under 

FMCSA Order 5610.1 (69 FR 9680), 

appendix 2, paragraphs (6.k) and (6.q). 

The categorical exclusions (CEs) in 

paragraphs (6.k) and (6.q) cover broker 

activities and implementation of record 

preservation. The proposed 

requirements in this rule are covered by 

these CEs and do not have any effect on 

the quality of the environment. 

J. Rulemaking Summary 

As required by 5 U.S.C. 553(b)(4), a 

summary of this proposed rule can be 

found on the FMCSA website at https:// 

www.fmcsa.dot.gov/regulations/brokerfreight-forwarder-compliance-dateextension and in the docket for this 

rulemaking, which is available online at 

www.regulations.gov. 

List of Subjects 

49 CFR Part 386 

Administrative practice and 

procedure, Brokers, Freight forwarders, 

Hazardous materials transportation, 

Highway safety, Highway and roads, 

Motor carriers, Motor vehicle safety, 

Penalties. 

49 CFR Part 387 

Buses, Freight, Freight forwarders, 

Hazardous materials transportation, 

Highway safety, Insurance, 

Intergovernmental relations, Motor 

carriers, Motor vehicle safety, Moving of 

household goods, Penalties, Reporting 

and recordkeeping requirements, Surety 

bonds. 

For the reasons set forth in the 

preamble, FMCSA proposes to amend 

49 CFR parts 386 and 387 as follows: 

PART 386—RULES OF PRACTICE FOR 

FMCSA PROCEEDINGS 

■ 1. The authority citation for part 386 

continues to read as follows: 

Authority: 28 U.S.C. 2461 note; 49 U.S.C. 

113, 1301 note, 31306a; 49 U.S.C. chapters 5, 

51, 131–141, 145–149, 311, 313, and 315; and 

49 CFR 1.81, 1.87. 

■ 2. Amend appendix B by revising and 

republishing paragraph (g)(24) to read as 

follows: 

Appendix B to Part 386—Penalty 

Schedule: Violations and Monetary 

Penalties 

* * * * * 

(g) * * * 

(24) Beginning on January 16, 2026, a 

surety company or financial institution for a 

broker or freight forwarder pursuant to 

§ 387.307 of this subchapter that violates 49 

U.S.C. 13906(b) or (c) or § 387.307: 

(i) Is liable to the United States for a 

penalty of $12,882 for each violation; and 

(ii) Will be ineligible to provide broker 

financial security for 3 years. 

* * * * * 

PART 387—MINIMUM LEVELS OF 

FINANCIAL RESPONSIBILITY FOR 

MOTOR CARRIERS 

■ 3. The authority citation for part 387 

continues to read as follows: 

Authority: 49 U.S.C. 13101, 13301, 13906, 

13908, 14701, 31138, 31139; sec. 204(a), Pub. 

L. 104–88, 109 Stat. 803, 941; and 49 CFR 

1.87. 

■ 4. Amend § 387.307 as follows: 

■ a. Revise the introductory text and 

paragraphs (b) and (c)(6); 

■ b. Remove paragraph (c)(7); and 

■ c. Redesignate paragraph (c)(8) as 

paragraph (c)(7). 

The revisions read as follows: 


lotter on DSK11XQN23PROD with PROPOSALS1
87536 Federal Register / Vol. 89, No. 213 / Monday, November 4, 2024 / Proposed Rules 

§ 387.307 Property broker surety bond or 

trust fund. 

This section is effective January 16, 

2026. 

* * * * * 

(b) Acceptable assets. Trust funds 

under this section must contain assets 

aggregating to $75,000 that can be 

liquidated to cash within 7 calendar 

days. Acceptable assets included in any 

trust fund filed under this section are 

limited to cash, irrevocable letters of 

credit issued by a federally insured 

depository institution, and Treasury 

bonds. 

(c) * * * 

(6) An insurance company; or 

* * * * * 

■ 5. Amend § 387.307T by revising the 

introductory text to read as follows: 

§ 387.307T Property broker surety bond or 

trust fund. 

This section will remain in effect 

until January 16, 2026. 

* * * * * 

Issued under the authority of delegation in 

49 CFR 1.87. 

Vincent G. White, 

Deputy Administrator. 

[FR Doc. 2024–25517 Filed 11–1–24; 8:45 am] 

BILLING CODE 4910–EX–P 


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