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Toyota Settles With U.S. for $1.2B

Largest for car company, ever.

General Motors is not the only major car company in the news for bad reasons this week. The Justice Department announced on Wednesday a $1.2 billion settlement with Toyota over how it dealt with reports of unintended acceleration in its cars. The fine is the largest criminal penalty for a car company in U.S. history. "Today we can say for certain that Toyota intentionally concealed information and misled the public about the safety issues behind these recalls," Attorney General Eric Holder said. This amount is in addition to the $1.6 billion Toyota has already paid to car owners, as well as fines paid in 2010 and 2012 for delays in reporting safety defects.