GM broke law, knew of defects since 2009 -U.S. transport chief

WASHINGTON Fri May 16, 2014 11:39am EDT

WASHINGTON May 16 (Reuters) - General Motors Co knew about the link between faulty ignition switches and air bag failures since at least November 2009, U.S. Transportation Secretary Anthony Foxx said on Friday, citing GM for breaking the law and failing to meet public safety obligations.

In a news conference announcing a record $35 million penalty against GM, Foxx also said the Obama administration wants the ceiling for such fines against automakers that fail to quickly report safety problems raised to $300 million. (Reporting by Richard Cowan and Eric Beech; Writing by Susan Heavey, Editing by Franklin Paul)

A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

Find your dream retirement town

Florida? Hawaii? Reuters has teamed up with Zillow to give you the power to customize a list of your best places to retire.  Video | Full Article