Economy, Auto
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Fiat Chrysler Fined $70m

Fiat Chrysler Fined $70mFiat Chrysler Fined $70m

Fiat Chrysler Automobiles has agreed to pay $70 million in fines to resolve a US investigation that it failed to disclose vehicle crash death and injury reports. Sources also informed Reuters the settlement is expected to be announced by the National Highway Traffic Safety Administration as early as Thursday.  Fiat Chrysler in September acknowledged it had failed to disclose an undisclosed number of reports that are required to be submitted under a 2000 law, which NHTSA called at the time a “significant failure”. In July, the automaker reached a separate $105 million settlement with NHTSA over its handling of nearly two dozen recalls covering 11 million vehicles. Major auto companies are required to electronically submit massive amounts of data involving vehicle crashes, deaths, lawsuits, warranty claims and other information.

 

Financialtribune.com