A tale of two fines by the federal government.
EPA Administrator Gina McCarthy just tweeted out this brag on how much the government was able to fine and collect from Hyundia/Kia over allegations the South Korean automaker provided erroneous emissions data to the public:
Hyundai & Kia will forfeit emissions credits & pay civil penalty of $100 million. It’s largest penalty we’ve assessed under Clean Air Act.
— Gina McCarthy (@GinaEPA) November 3, 2014
The WSJ reports that the actual fine, however, amounts to $300 million once the emissions credits are accounted for:
Korean auto makers Hyundai Motor Co. and Kia Motors Corp. agreed to pay a combined penalty of $300 million for overstating fuel-economy claims, the largest such punishment ever, in a settlement that could create a pricey precedent for other car companies.
Hyundai and Kia, affiliates of Hyundai Motor Group, will pay a combined $100 million in civil fines and forfeit regulatory credits valued at $200 million to settle a two-year long probe by the U.S. Environmental Protection Agency and the Justice Department, the agencies said.
That’s a big fine. But how does it compare to what the government was able to collect from General Motors for GM’s delay in reporting a faulty ignition switch issue that’s been linked to “at least 13 deaths“?
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#GM to Pay Feds Massive Fine Over Deadly #Recall. http://t.co/b3s7eQt0hX
— Dan Wagner (@MrDanWagner) May 24, 2014
https://twitter.com/miguelreymorles/status/467320485684838400
GM to Pay Feds Record $35 Million dollar Fine over Deadly Ignition Switch Failures: http://t.co/xSBOpfMyoh
— Steve Ferrell (@FerrellsLaw) May 17, 2014
The “maximum” fine for GM was $35 million, but Hyundai and Kia were just fined $300 million?
How in the world do the government justify this discrepancy?
Related:
‘People died, truth was hidden’: Fox Business’ Charles Payne calls $35 million fine for GM ‘bogus’
‘They’re #1!’ Bin Laden is dead — and GM’s getting closer to joining him
‘Another day, another GM recall’: GM reaches unfortunate milestone for 2014
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