JPMorgan to pay 5.1 billion to settle FHFA case
JPMorgan Chase will pay 5.1 billion dollars to resolve FHFA claims it misled Fannie Mae and Freddie Mac about risky mortgage securities sold before the 2007 housing collapse. The deal tops other settlements and could lead to a broader government resolution.
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Toyota settles with victims in fatal Oklahoma crash
In Oklahoma City Toyota Motor Corp reached a settlement with the victims of a 2007 crash a day after an Oklahoma County jury became the first in the nation to find the company liable in a sudden unintended acceleration suit The jury awarded 3 million to the injured driver of a 2005 Camry and to the deceased passenger’s family The settlement terms were not disclosed and Toyota agreed not to appeal the verdict The case centered on electronics in the Camry’s throttle control system amid recalls tied to unintended acceleration claims
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United Airlines Fined Over Runway Stranding at O'Hare
United Airlines must pay more than 1 million dollars in penalties after 13 United and United Express planes were stranded on the tarmac at Chicago O'Hare for over three hours. The fines, the largest since 2010, fund safety steps and compliance measures.
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McDonald’s cuts ties with Heinz after 40 years
McDonald’s to transition ketchup supply away from Heinz following management changes at Heinz. Heinz, led by Bernardo Hees, remains silent on customer relationships. In the U.S. Heinz products are used only in Pittsburgh and Minneapolis locations.
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