Speed Reads

that's a hefty fine

Honda just got fined $70 million for failing to submit safety reports to the government

In November, Honda Motor Co. filed an internal report that it had underreported 11 years' worth of safety issues. In November, it was speculated that Honda would face the maximum civil penalty, $35 million, but the National Highway Traffic Safety Administration just doubled that.

The agency announced Thursday that it would fine Honda $70 million for not submitting 1,729 reports of fatal accidents and injuries. The amount marks the largest fine the administration has ever given an automaker.

Automakers are required to submit defect claims for death or serious injury to the government under the Early Warning Reporting system.