DETROIT (AP) — When Kenneth Feinberg announces the terms of General Motors’ plan to pay victims of crashes caused by bad ignition switches, he’ll have an open wallet.
Feinberg will announce terms of the plan on Monday in Washington.
CEO Mary Barra has said there won’t be any cap on payments. She also told Congress that GM won’t have any say in how much Feinberg can award.
GM says the faulty switches are responsible for at least 54 crashes and more than 13 deaths, but lawyers and lawmakers say the death toll is closer to 100. Feinberg’s payments could go into the hundreds of millions of dollars, if not billions.