U.S. Treasury Department
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Legal issues
Congress escalates probe into Yellow’s $700M COVID loan
A U.S. House subcommittee has launched an investigation into Yellow Corp.’s $700 million CARES Act loan.
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Less than Truckload
Yellow, ABF drivers edge closer to long-term pension protection
The Teamsters’ Central States Pension Fund could be saved through the COVID-19 relief package.
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Parcel
US Postal Service begins agency overhaul
DeJoy affirms plenty of capacity for handling presidential election mail-in ballots.
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Parcel
Postal Service reaches agreement on $10 billion Treasury loan
Trump opposed CARES Act loan in May unless agency raised rates it charged Amazon
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Legal issues
Feds fine Amazon for selling to sanctioned countries
Amazon acknowledged in 2017 that it had reported apparent violations to U.S. Treasury.
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News
Trying to make sense of the YRC bailout
YRC’s $700 million loan from the Treasury Department raises concerns from industry experts about the survival of the company and whether the deal is worth…
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Trucking Regulation
Women-owned trucking gets more access to new $320 billion PPP
Trump signs bill carving out $60 billion in loans specifically for smaller community-based lenders.
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Trucking Regulation
Transportation companies receive $10.6 billion in emergency cash
Sector makes up 3% of $342 billion worth of COVID-19 payroll protection loans.
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American Shipper
US tightens sanctions lasso on Rosneft operations handling Venezuelan oil
The Office of Foreign Assets Control added Russian oil company overseas affiliate TNK Trading International in Switzerland to the Specially Designated Nationals and Blocked Persons…
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American Shipper
Airline systems firm pays $7.8 million for US sanction violations
SITA committed 9,256 violations of the Global Terrorism Sanctions Regulations between 2013 and 2018 by providing services from and transiting through the U.S. to blacklisted…
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