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Simple English definitions for legal terms
STB
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A quick definition of STB:
Term: STB
Definition: STB stands for Surface Transportation Board. It is a government agency that regulates and oversees the railroad industry in the United States. They make sure that railroads operate fairly and safely, and they help resolve disputes between railroads and their customers.
A more thorough explanation:
STB
STB stands for Surface Transportation Board. It is a regulatory agency in the United States that oversees the railroad industry.
One example of the STB's responsibilities is to review and approve railroad mergers and acquisitions. Another example is to resolve disputes between railroads and their customers.
For instance, if two railroad companies want to merge, they must submit an application to the STB for approval. The STB will review the application to ensure that the merger is in the public interest and does not harm competition.
If a customer has a complaint against a railroad, they can file a complaint with the STB. The STB will investigate the complaint and work to resolve the dispute between the customer and the railroad.
These examples illustrate how the STB works to ensure that the railroad industry operates fairly and efficiently for both companies and customers.