US Gov’t says Toyota accepted record $16.4M fine

WASHINGTON (AP) - Toyota Motor Corp. agreed Monday to pay a record $16.4 million fine for failing to properly notify federal authorities about a dangerous accelerator pedal defect. The auto company said it had agreed to settle the civil penalty but denied the government’s allegation that it violated the law. Transportation Secretary Ray LaHood, announcing the largest-ever penalty paid by an automaker to the U.S. government, said that “by failing to report known safety problems as it is required to do under the law, Toyota put consumers at risk.”