Takata To Pay $1 Billion In Fines Over Faulty Airbags

Japanese auto parts company Takata agreed to pay $1 billion in criminal fines and plead guilty to federal wire fraud charges in a settlement over a deadly defect in its airbags that prompted a massive recall. “Automotive suppliers who sell products that are supposed to protect consumers from injury or death must put safety ahead of profits,” U.S. Attorney Barbara McQuade said in a statement.