Will Brake For Cash

Toyota Prepares to Pay Up

U.S. $16.4 million settlement likely.

Step one to easing a PR nightmare: Open your wallet. A source says Toyota has agreed to pay the record-breaking $16.4 million fine to U.S. safety regulators after its accelerator pedal problem caused the company headaches in January. The settlement comes after it was discovered Toyota knew about the accelerator problems, yet delayed a recall. By agreeing to the terms, Toyota is “accepting responsibility for hiding their safety defect,” said a Transportation Department official. The settlement is expected to be signed on Monday, however, Toyota still has over 100 lawsuits alleging consumer fraud and personal injuries and could face potential civil liability of over $10 billion.