In the trucking industry, many owner-operators view leasing their first truck as an important step in starting their business. However, leases that contain unfair or predatory terms can hinder entrepreneurial progress, discourage drivers from continuing to work in the industry, and even create barriers to driver recruitment.
Predatory leases may hamstring drivers such that they cannot escape the lease without being held liable for the leasing company’s costs for obtaining the truck, requiring the driver to continue paying for the truck while operating at a loss or even after they have canceled the lease and returned the truck.
The nine-member Truck Leasing Task Force was created to help. The Task Force, established by the Bipartisan Infrastructure Law, was chartered in February 2022 by Transportation Secretary Pete Buttigieg to examine the terms, conditions, and fairness of common truck leasing arrangements, particularly as they impact owner-operators and trucking businesses. The TLTF charter runs through February 2024, and the group will then submit a report of its findings to the Secretary of Transportation, the Secretary of Labor, and appropriate congressional committees. The report will identify issues and conclusions regarding truck leasing arrangements, including suggested best practices and recommended changes to laws to promote fair leasing agreements.
The next meeting of the TLTF will take place Tuesday, October 17, 2023, from 10:00 am to 4:30 pm. This virtual meeting is open to the public, and pre-registration is required. Please register at the TLTF website, where you can also find the full meeting agenda.
What: Truck Leasing Task Force Meeting
Date: Tuesday, October 17, 2023
Time: 10:00 am — 4:30 pm ET
Registration Required: www.fmcsa.dot.gov/tltf
The focus of this meeting will be “Common Truck Leasing Agreements Available to Drivers of CMVs and the Existence of Inequitable Leasing Agreements and Terms in the Motor Carrier Industry.” The TLTF’s first meeting was held in July, during which members began outlining plans for future discussions on how to evaluate potential predatory commercial and motor carrier lease agreements with independent owner-operators.
About the Truck Leasing Task Force
That Task Force is charged with:
- Exploring predatory truck leasing arrangements in coordination with the U.S. Department of Labor 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
Truck Leasing Task Force Members
TLTF members include representatives from labor organizations, motor carriers, consumer protection groups, owner-operators, and other businesses, as well as attorneys and educators.
The nine members of the Truck Leasing Task Force are:
- Tamara Brock, Brock Logistics, LLC and Lewis & Lewis Logistics, LLC (Independent Owner-Operator)
- Paul Cullen, The Cullen Law Firm, PLLC (Attorney)
- Troy Hawkins, TTOH Consulting & Logistics, LLC (Independent Owner-Operator)
- Jim Jefferson, Owner-Operator Independent Drivers Association (Consumer Protection)
- Joshua Krause, OTR Leasing, LLC (Business)
- Kaitlyn Long, International Brotherhood of Teamsters (Labor Organization)
- Steve Rush, Carbon Express Inc. (Carrier)
- Lesley Tse, Of counsel to Get man, Sweeney & Dunn, PLLC (Attorney)
- Steve Viscelli, Ph.D., University of Pennsylvania (Economic Sociologist)
For questions concerning the TLTF, please e-mail email@example.com