LYCOS RETRIEVER 
Interstate Commerce Commission
built 654 days ago
By 1995, the Interstate Commerce Commission had lost most of its mandate. With deregulation complete, the ICC could no longer set rates, and the commission was dissolved in the ICC Sunset Act. The Surface Transportation Board, under the auspices of the U. S. Department of Transportation, now performs the few regulatory tasks that had remained with the ICC.
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The commission's staff shrank from a peak of 2400 employees in the 1960s to fewer than 300 in the early 1990s. In 1995 Congressional passage of the ICC Sunset Act abolished the commission. The legislation created a new Surface Transportation Board in the Department of Transportation to perform the small number of regulatory tasks that had remained with the ICC. The commission issued its final order several days before Christmas, 1995, a permit for Santa Claus to operate “as a common carrier by two-runner sleigh” as long as he “renders reasonably continuous and adequate service to the public.”
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An ICC bond is required by the Interstate Commerce Commission to legally operate as a transportation broker. These bonds are ... commonly known as BMC-84, freight broker bond, and property broker surety bonds. The ICC also allows brokers to submit the BMC-85 trust fund in place of a bond. Bryant Surety Bonds, Inc only recommends submitting the BMC-85 trust fund if they do not qualify for a BMC-84 ICC bond.
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Between 1910 and 1934, the ICC had the authority to regulate interstate telephone services. (The very name of the agency suggests that lawmakers may have planned for it to become the "single roof" over many disparate regulatory efforts.) In 1934, this authority was transferred to the new Federal Communications Commission.
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Interstate Commerce Commission