Chrysler Fined $105M for Breaking Law

Fiat Chrysler will face an impending $105 million fine from the federal government this week for violating vehicle safety recall laws. The company will have to buy back recalled vehicles to get them off the road. Part of the punitive arrangement also includes installing an independent monitor to supervise and review recalls. The problem stems from older Jeeps which have a defect causing gas tanks to leak in the vehicles have rear impact collisions. This fine beats the previous record held by Honda Motor Co. which faced a $70 million punishment for airbag recall issues.