Federal regulators are close to hitting Fiat Chrysler Automobiles
NV with a record $105 million fine for recall lapses with millions of vehicles, said people familiar with the matter, adding to mounting scrutiny of the auto maker’s safety practices.
The National Highway Traffic Safety Administration is expected slap the Italian-U.S. auto maker with the financial penalty and assign an independent monitor to audit the company’s recall processes for an extended period of time as part of a sweeping settlement, the people said. In some cases, the auto maker will agree to repurchase recalled vehicles, the people said.
Fiat Chrysler is expected to sign a consent order agreeing to the penalties, which could be unveiled as soon as Monday, the people said. Fiat Chrysler will have an opportunity to recoup some of the financial penalty if it meets certain conditions, the people said.
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