U.S. Looking to Fine Toyota $7 for Each Car Recalled
The National Highway Traffic Safety Commission is seeking $16.375 million in civil fines against Toyota after the automaker was forced to recall 2.3 million vehicles over an accelerator glitch, Transportation Secretary Ray LaHood announced Monday.
The DOT says that the fine — the maximum allowable — is the largest civil penalty the NHTSC has ever assessed against a car maker for failing to report defects until long after they were allegedly discovered. Still, it’s irresistible to mention that the fine would represent $7.12 per car recalled.
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School of Hock
A growing number of college grads are defaulting on their student loans as the economy worsens.
