Corporate Governance

Transportation Dept. may seek second fine against Toyota

A letter from the National Highway Traffic Safety Administration to the carmaker showed that Toyota waited at least four months to recall 2.3 million vehicles after defects were found with accelerator pedals. The agency imposed a $16.4 million fine last week, the largest ever assessed by the Transportation Department. 

The agency told Toyota that it could’ve been subject to $13.8 billion in fines if there weren’t caps set under U.S. law. 


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