Truck Leasing Task Force plans meetings in June, July

The Federal Motor Carrier Safety Administration’s Truck Leasing Task Force will resume with meetings scheduled in June and July.

The task force, which was established by Congress with the goal of ending predatory lease-purchase agreements in the trucking industry, will conduct virtual meetings on Thursday, June 13 and Thursday, July 18. The meetings will be from 10 a.m. to 4 p.m. Eastern each day.

Notice of both meetings is scheduled to be published in the Federal Register on Wednesday, May 29.

The task force started in 2023. Since that time, numerous stories of truck drivers getting into bad deals with motor carriers have been relayed. In these predatory lease-purchase agreements, a carrier leases a truck to a driver but still largely holds control over the operation, including the driver’s ability to pay off the loan. It is common for drivers to report owing money to the carrier at the end of a pay period.

June 13 meeting agenda

The June 13 meeting will include discussion on whether truck leasing agreements properly incentivize the safe operation of vehicles, including driver compliance with the hours-of-service regulations and laws governing speed and safety. At previous meetings, it has been suggested that truck drivers in bad financial agreements would be motivated to operate in an unsafe manner so that they could log more miles and haul as many loads as possible.

“When you’re under pressure and not able to make the payments, you might drive a little faster,” the OOIDA Foundation’s Tom Weakley said at the task force meeting in March. “You might do some things you wouldn’t normally do because you’re struggling to make those payments.”

The meeting also will include a presentation from the Consumer Financial Protection Bureau and its findings regarding submitted leases for commercial motor vehicles.

In addition, there will be a public comment period that will allow truck drivers to share their personal experiences with lease-purchase agreements.

July 18 meeting agenda

The July 18 meeting will include discussion about the opportunity that equitable leasing agreements can provide truck drivers who want to start a business.

In addition, the Consumer Financial Protection Bureau will continue its presentation from the June meeting, and there will be time for public comment.

How to participate

Once the notice is published in the Federal Register, the public can register for the online meeting by going to the Truck Leasing Task Force website. Those requesting special accommodations or wanting to submit materials must be received by June 7 and July 12, respectively.

Full meeting agendas will be posted on the task force website at least one week in advance. LL