Roundup: GM worker warned company of switch problem in 2005; SunTrust Mortgage settles federal probe for $320M; more
GM worker warned company of faulty ignition switch in '05
General Motors says it recalled 3.4 million large cars last month after finding a 9-year-old email from an employee in its files warning of trouble. The admission is more evidence that GM knew about safety problems for years but failed to recall cars until recently. The company didn't recall the cars when it got the email in 2005. But it decided to call them in for repairs last month after finding the old email in its files in an April search. In the email, an employee who was testing a 2006 Chevrolet Impala before production reported that the engine stalled and a technician blamed it on a faulty ignition switch. The email was detailed in documents released Thursday by the National Highway Traffic Safety Administration.
SunTrust Mortgage settles federal probe for $320M
SunTrust Mortgage Inc. has agreed to pay up to $320 million to resolve allegations that it misled customers seeking loan modifications. The company and U.S. Attorney Timothy Heaphy announced the settlement Thursday. Settlement documents say SunTrust misrepresented or omitted information to borrowers participating in the federal Home Affordable Modification Program and failed to process applications in a timely manner. The company is making up to $274 million available for restitution to customers who suffered financial harm. Additional funds will go to Fannie Mae and Fannie Mac, to law enforcement agencies working on mortgage fraud and to mortgage counseling agencies. SunTrust Mortgage CEO Jerome Lienhard said in a news release that the company recognizes there were deficiencies in its administration of the program and is focused on the future.
— Staff and wire reports
TribLive commenting policy
You are solely responsible for your comments and by using TribLive.com you agree to our Terms of Service.
We moderate comments. Our goal is to provide substantive commentary for a general readership. By screening submissions, we provide a space where readers can share intelligent and informed commentary that enhances the quality of our news and information.
While most comments will be posted if they are on-topic and not abusive, moderating decisions are subjective. We will make them as carefully and consistently as we can. Because of the volume of reader comments, we cannot review individual moderation decisions with readers.
We value thoughtful comments representing a range of views that make their point quickly and politely. We make an effort to protect discussions from repeated comments â either by the same reader or different readers.
We follow the same standards for taste as the daily newspaper. A few things we won't tolerate: personal attacks, obscenity, vulgarity, profanity (including expletives and letters followed by dashes), commercial promotion, impersonations, incoherence, proselytizing and SHOUTING. Don't include URLs to Web sites.
We do not edit comments. They are either approved or deleted. We reserve the right to edit a comment that is quoted or excerpted in an article. In this case, we may fix spelling and punctuation.
We welcome strong opinions and criticism of our work, but we don't want comments to become bogged down with discussions of our policies and we will moderate accordingly.
We appreciate it when readers and people quoted in articles or blog posts point out errors of fact or emphasis and will investigate all assertions. But these suggestions should be sent via e-mail. To avoid distracting other readers, we won't publish comments that suggest a correction. Instead, corrections will be made in a blog post or in an article.