Investing

Toyota Could Have Been Fined $13.8 Billion--NHTSA

The government cap on fines that the NHTSA division of The Transportation Department can levy on any one car company for a single violation of the agency’s rules is $16.735 million. That is the fine the NHTSA will force the Japanese car company to pay for failing to disclose timely information accelerator problems on 2.4 million of its cars which were eventually recalled. NHTSA says it may add another fine because the accelerator flaw was based on two mechanical issues and not one.

NHTSA said that it would have charged Toyota $13.8 billion, or $6,000 for each defective vehicle but caps prevented that. The difference between that number and the current fine of $16.735 is ridiculous and should lead Congress to change the system under which DOT can fine car companies which have egregiously violated  federal laws.

Douglas A. McIntyre

Essential Tips for Investing: Sponsored

A financial advisor can help you understand the advantages and disadvantages of investment properties. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.

Investing in real estate can diversify your portfolio. But expanding your horizons may add additional costs. If you’re an investor looking to minimize expenses, consider checking out online brokerages. They often offer low investment fees, helping you maximize your profit.

Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.