Volkswagen AG is asking for a final sign-off on its $14.7 billion settlement with drivers as it continues to seek regulators’ approval of a fix for 482,000 pollution-spewing vehicles still on U.S. roads. Without an approved repair, VW may be left with only one option: buy back the cars with so-called defeat devices from the owners. And the German automaker might have to do the same for a …
After settling with regulators for $185 million over signing up its customers for more than 2 million accounts without their knowledge and subsequently charging them fees, Wells Fargo became the focus of a Senate Banking Committee hearing on Capitol Hill on Tuesday. White-collar criminologist William Black told the Real News that the hard work exposing the bank’s practices was “done by the …
A new proposal by the nation’s chief consumer watchdog could help government regulators and prosecutors stop big banks’ dubious practices more quickly. The Consumer Financial Protection Bureau on Thursday suggested a ban on clauses tucked into contracts for credit cards, student loans and other financial products that prohibit consumers from joining together to sue financial companies for …
Volkswagen’s top executive in the US, Michael Horn, has left the company almost six months after the emissions scandal came to light in the country. VW confirmed that Michael Horn was leaving “to pursue other opportunities effective immediately”. The statement did not give any further information on the decision, which was a surprise given he was a veteran of 25 years at the company and had …
(WASHINGTON) — Volkswagen’s top U.S. executive is stepping down amid the company’s ongoing emissions cheating scandal, the company announced Wednesday. U.S. President and CEO Michael Horn is leaving “to pursue other opportunities effective immediately,” the automaker said in a statement. He had been with the German auto maker for 25 years, assuming his most recent post in 2014.
Volkswagen chief executive Matthias Müller has apologized for cheating diesel car emissions tests on his first official US visit since the scandal broke in September. “We know that we have let down customers, authorities, regulators and the general public here in America,” the head of the German carmaker said at a media reception on the eve of the Detroit auto show. “We are – I am – truly sorry …
(Los Angeles, CA) — California regulators said Tuesday they have rejected Volkswagen’s recall plan for some of its most popular diesel models, including the Passat and the Jetta, that used software to intentionally deceive government emissions tests. The California Air Resources Board said the recall plan was unacceptable for a variety of reasons, including that it did not adequately identify …
Volkswagen chief executive Matthias Müller has apologized for cheating diesel car emissions tests on his first official US visit since the scandal broke in September. “We know that we have let down customers, authorities, regulators and the general public here in America,” the head of the German carmaker said at a media reception on the eve of the Detroit auto show. “We are – I am – truly sorry …