EPA to Volkswagen: Das Cheaters!
The company faces a potential $37,500 fine by the EPA for each Clean Air Act violation. That could lead to the automaker facing as much as $18 billion in federal penalties in total. To put that in comparison, General Motors just agreed to a $900 million federal penalty on Thursday after a Justice Department criminal investigation over its ignition-switch defect that led to at least 124 deaths, and Toyota agreed to a $1.2 billion penalty last year after several deaths were attributed to an acceleration defect.