Safety and Regulation

THE GM RECALL

Deaths linked to GM ignition-switch defect rise to 21, Feinberg says

1:59 pm U.S. ET | Sept. 22, 2014
The number of deaths linked to a faulty ignition switch in General Motors vehicles rose by two last week to 21, according to a report today from a lawyer overseeing a program to compensate victims of accidents caused by the recalled part.... Read More »

 

Now, it's NHTSA under fire

12:01 am U.S. ET | Sept. 22, 2014
Seven months after General Motors' ignition-switch issue erupted into a full-blown safety crisis, NHTSA is taking its turn in the hot seat, facing tough questions about its past and its ability to effectively police auto safety.... Read More »

 

EDITORIAL

GM has accepted blame -- why won't NHTSA?

12:01 am U.S. ET | Sept. 22, 2014
General Motors' ongoing recall saga is exposing a sharp contrast in behavior between the regulated and the regulators.... Read More »

 

THE GM RECALL

GM recalls Cadillacs, Impalas; Chrysler to fix Jeeps, Dodges

9:26 pm U.S. ET | Sept. 20, 2014
General Motors is recalling some Cadillac and Impala cars while Chrysler Group called back some Jeep and Dodge SUVs, according to government reports.... Read More »

 

Magna stock falls 4.7% after Brazil antitrust regulator visits local unit

4:02 pm U.S. ET | Sept. 19, 2014
Magna International shares tumbled the most in more than two years after the supplier said the offices of its Brazilian unit were visited in connection with an antitrust investigation.... Read More »

 

THE GM RECALL

U.S. judge orders discovery to begin in some GM ignition switch cases

3:41 pm U.S. ET | Sept. 19, 2014
A federal judge in Manhattan today ordered discovery to begin for some cases filed against General Motors in connection with its recall of millions of cars for a faulty ignition switch.... Read More »

 

Barra says GM continues pursuit of 'zero defect mentality'

12:33 pm U.S. ET | Sept. 19, 2014
General Motors CEO Mary Barra told an event here today about being the target of Congress -- and "Saturday Night Live" -- and about befriending billionaire Warren Buffett. But she gave little detail on GM's new Cadillac to be built in Detroit.... Read More »

 

Toyota recalling 20,000 vehicles from 2014-15 on potential fuel leak

9:28 am U.S. ET | Sept. 19, 2014
Toyota said it will recall about 20,000 vehicles from the 2014 and 2015 model years worldwide for possible fuel leaks.... Read More »

 

House bill proposes tougher auto safety rules

6:15 pm U.S. ET | Sept. 18, 2014
House Democrats introduced another bill Thursday to toughen federal auto safety laws after the National Highway Traffic Safety Administration came under more criticism by U.S. lawmakers this week for its handling of the General Motors ignition switch recalls.... Read More »

 

CFPB's latest guide on discrimination falls short, auto lenders, dealers say

3:28 pm U.S. ET | Sept. 18, 2014
Auto lenders and dealers are largely disappointed with a long-awaited report by the Consumer Financial Protection Bureau that outlines the bureau's method for finding discrimination in auto loans.... Read More »

 

7 Japanese supplier execs indicted in price-fixing scheme

4:09 pm U.S. ET | Sept. 18, 2014
A federal grand jury in Detroit has indicted seven executives from Japanese auto suppliers Mitsubishi Electric and Hitachi Automotive Systems for their alleged roles in a conspiracy to fix auto parts prices, the Justice Department said today.... Read More »

 

NADA calls on CFPB to accept dealer group's anti-discrimination approach

11:00 am U.S. ET | Sept. 18, 2014
The National Automobile Dealers Association called on the Consumer Financial Protection Bureau to recognize NADA's Fair Credit Compliance Policy & Program as a valid way to avoid discrimination, at a CFPB hearing today in Indianapolis into auto-lending practices.... Read More »

 

GM recalling natural gas-powered vans due to possible leak

10:40 am U.S. ET | Sept. 18, 2014
General Motors will recall about 3,200 vans powered by natural gas because of the possibility of a gas leak that increases the risk of a fire, the automaker said today.... Read More »

 

Audi claims first California autonomous driving permit

11:35 am U.S. ET | Sept. 17, 2014
Volkswagen's Audi unit is the first automaker to receive an autonomous driving permit in California, as new laws in the state governing the process went into effect on Tuesday.... Read More »

 

CFPB finds discrimination in auto lending at banks, looks to oversee captives

5:45 pm U.S. ET | Sept. 17, 2014
The nation's consumer finance regulator found discrimination against minority borrowers at several unnamed banks tied to dealer discretion in setting dealer reserve, the share of the customer's interest rate that dealerships earn for negotiating a finance contract. The CFPB also released the first details of a proposed new rule that would officially extend its jurisdiction to nonbank auto lenders.... Read More »

 

CFPB to shed light on identifying protected classes

12:01 am U.S. ET | Sept. 17, 2014
The Consumer Financial Protection Bureau is due to issue a white paper soon -- perhaps even this week -- that spells out in greater detail exactly how the bureau determines which consumers belong to legally protected classes of borrowers -- technical details that can ultimately have a big impact on dealers' business.... Read More »

 

Tesla argues New Jersey regulators can't stop direct sales

2:06 pm U.S. ET | Sept. 17, 2014
Tesla Motors, in a court filing submitted Tuesday, argued that New Jersey regulators have no authority to shut down direct sales at the electric-vehicle maker's stores in the state.... Read More »

 

F&I panel: 'We can police ourselves'

12:01 am U.S. ET | Sept. 17, 2014
F&I administrators and dealerships should put price ceilings on F&I products to protect themselves from overregulation, a group of executives from F&I providers suggested at a recent industry conference.... Read More »

 

THE GM RECALL

NHTSA chief, before blistering Senate panel, admits 'we need to improve'

5:39 pm U.S. ET | Sept. 16, 2014
The head of the National Highway Traffic Safety Administration today insisted that his agency lacked enough information to force a recall of faulty General Motors ignition switches before this year, but under heavy criticism from members of a Senate subcommittee he admitted that regulators could have done better.... Read More »

 

THE GM RECALL

NHTSA boss says GM made 'incredibly poor decisions' on recalls

7:52 am U.S. ET | Sept. 16, 2014
The top U.S. auto safety regulator harshly criticized GM for not promptly reporting and recalling cars now linked to at least 19 deaths and said he has been meeting with top global automakers to develop a "new normal" for safety recalls.... Read More »

 

THE GM RECALL

House report, citing 'critical mistakes,' blasts NHTSA

11:41 am U.S. ET | Sept. 16, 2014
Federal auto safety regulators failed to detect GM's defective ignition switches despite having “ample information” about the problem as early as 2007, according to a House committee investigation into the GM recalls and NHTSA released today.... Read More »

 

Captives likely to get CFPB oversight

4:35 pm U.S. ET | Sept. 16, 2014
The Consumer Financial Protection Bureau is expected to issue an important new rule on Thursday defining which nonbank lenders -- including captive finance companies -- will be considered “larger participants” and thus subject to CFPB regulation.... Read More »

 

Feinberg team approves 19 death claims in GM ignition switch case

11:15 am U.S. ET | Sept. 15, 2014
The independent lawyer overseeing GM's program to compensate victims of accidents that involved defective ignition switches has approved claims for 19 deaths, at least six more fatalities than GM has officially linked to the faulty part. The approved claims are now awaiting a decision on payment amounts.... Read More »

 

Tesla prevails in top Mass. court over direct sales

5:52 pm U.S. ET | Sept. 15, 2014
Massachusetts' highest court on Monday threw out a lawsuit seeking to block Tesla from selling its luxury electric cars directly to consumers in the state, enabling it to bypass traditional dealerships.... Read More »

 

U.S. Treasury chief warns China on antitrust probes of foreign companies

2:32 pm U.S. ET | Sept. 15, 2014
Treasury Secretary Jack Lew warned the Chinese government that a recent spate of antitrust investigations against foreign automakers and other companies could have serious implications for U.S.-China relations.... Read More »

 

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