66% of logistics pros say talent quality — not cost — is the #1 factor in choosing a nearshore partner. Rapido's integration model explains why that's the right question to be asking.
Plus, a carrier pleading guilty to mob money laundering while still FMCSA-active, Iran's first post-ceasefire attack and what it means for diesel surcharges, FedEx Freight's first earnings as a standalone company, and more in today's newsletter.
Freight brokers are measuring their inboxes wrong. Most inbound email is monitoring, not work. And the longtail categories that look like noise are costing real margin. Here's how to audit what's actually in your inbox, and why it matters in 2026's margin-first market.
Plus: FBI taps brokers for fraud intel, lawsuits push trucking costs up, brokerage activity turns negative — and more in today’s newsletter.
TGIF. Credit stress is spreading in freight. BMO’s Q4 data shows rising impairments and a shrinking trucking portfolio. Today's feature breaks down what this credit squeeze means for brokers heading into 2026.
Plus:
📉 Freight Brokerage Count Slipped Again in November. Kevin Hill of Brush Pass Research says active brokerages fell by 36 last month, the second consecutive drop. The wild 5-year growth swings of the past, from the 2014 bond purge to the pandemic surge peaking at 70% in 2022, have cooled to a modest 6.9% today. Most long-term comps remain negative: -2.5% YoY, -13.8% over 2 years, and -19.1% over 3 years. Since July, monthly changes have been mostly flat, and 2025 shows a net decline of just 390 brokerages. A slow, grinding reset continues.
🛡️ TIA to Pipeline Freight Fraud Intel to FBI. The Transportation Intermediaries Association (TIA) is creating a unified reporting channel to funnel truckload theft and freight-fraud data directly to the FBI, aiming to counter what executives call an unprecedented surge in organized criminal activity targeting brokers and carriers. TIA says members routinely face double-brokering rings, stolen identities, and coordinated cargo theft schemes, but lack a centralized way to escalate cases. The new initiative will aggregate verified incident data, patterns, and financial losses, giving federal investigators a clearer picture of national fraud networks. With fraud accelerating across the spot market, TIA says brokers need a stronger, faster path to law-enforcement action.
⚖️ ATRI Flags Litigation Surge Squeezing Trucking Costs. A new ATRI report warns that lawsuit abuse is becoming a major financial drag on trucking, with tort cases rising nearly 4% annually and nuclear verdicts inflating operating costs across the supply chain. ATRI found 44% growth in damage awards, driven by claims tied to hiring practices, safety documentation, and even data generated by onboard tech, information that can be weaponized against carriers despite improving safety. ATRI says excessive litigation is diverting resources that should support operations and driver safety. ATA echoed the alarm, calling for legal reforms as third-party litigation funding fuels bigger awards and higher insurance and freight costs.
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Impaired loans are rising, allowances are rising, and net write-offs are ticking up.
We’ve been waiting for the "blood in the water" to dry up excess capacity. BMO Transportation Finance confirms it’s happening: trucking credit metrics are sliding, and their book of business is shrinking.
By The Numbers:
What is it? BMO Transportation Finance (formerly the transportation finance unit of GE Capital) is a dominant lender to the North American trucking industry.
Why it matters: Their portfolio is approximately 90% trucking company clients. Unlike general indices, BMO’s books represent the raw financial health of the actual asset owners.
For brokers and carriers, this matters more than it may seem. When lenders get skittish, cash gets tighter, borrowing costs rise, and even healthy operators end up squeezed.
Higher impairments + higher allowances + loan book contraction = lenders are preparing for more trouble and tightening credit exposure to trucking.
Banks are turning off the capital tap. Without credit, struggling carriers can no longer survive on cash flow alone. This financial "flush" is painful, but it is the necessary mechanism to tighten capacity and stabilize rates as we head into 2026.
A new SimplyWall.st breakdown of RXO highlights weakening credit ratios and softer interest coverage, nothing catastrophic, but a sign that investors expect a tougher financial environment for brokerages heading into 2026.
CRST is redeploying part of its OTR fleet as part of a broader restructuring. This move is a direct response to the market's current supply/demand imbalance.
Craig Fuller even issued a correction and apology to CRST over earlier reporting, underscoring just how sensitive the industry is to any hint of financial stress.
Old Dominion posted another bump in yields, but even they couldn’t escape volume softness. When the most disciplined carrier in LTL can’t grow tonnage, it’s a sign the freight market’s foundation is still shaky.
Put it all together, and a pattern emerges:
The operators who enter 2026 with clean books, controlled costs, and steady cash flow will be the ones who actually benefit when demand rebounds.
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With OTR Solutions, brokers get true automation and access to working capital, so you can focus on moving freight, not managing paperwork.
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🚨 DPS Discovery. Texas DPS found 23 people stowed away in a sleeper berth after stopping a semi whose driver lacked a CDL; the truck was seized, and the driver detained.
📝 English Violations. FMCSA data shows English-proficiency violations persist, but carriers aren’t being shut down because most infractions fall on individual drivers rather than rising to out-of-service thresholds.
⚖️ Liability Spike. ATRI found pre-crash negligence, like poor maintenance or inadequate hiring, can triple a trucking company’s liability exposure in post-crash litigation.
🚫 No Booting. A new North Carolina law makes booting commercial vehicles illegal, banning private companies from immobilizing trucks over parking disputes.
💳 Payment Automation. Sunnybrook TMS and Tank Payments launched an integrated payment system that automates carrier settlements and reduces manual processing for freight brokers.
📈 Used Sales Up. Used Class 8 truck sales posted a fifth straight year-over-year gain, reflecting demand for lower-cost equipment amid tight budgets and delayed new-truck purchases.
🎣 THE FREIGHT CAVIAR CORNER
FREIGHT HUMOR
Plus, a carrier pleading guilty to mob money laundering while still FMCSA-active, Iran's first post-ceasefire attack and what it means for diesel surcharges, FedEx Freight's first earnings as a standalone company, and more in today's newsletter.
Bad carriers are gaming the weigh station system. Plus, C.H. Robinson's own engineer goes scorched earth on Reddit, the Ghost Truck Act gets roasted, and more in today's newsletter.
Plus, overseas ELD tampering, 100 pallets of stolen womenswear, 20,000 Mexican truckers losing US visas, and more in today's newsletter.
While everyone in trucking is watching rates, capacity, and fraud, a much bigger shift may be happening quietly in the background: the future of rail.
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