Takata Airbag Settlement Reached

MILLIONS OF CAR OWNERS WITH TAKATA AIRBAGS MAY SOON BE COMPENSATED

(CNN) – Millions of car owners whose vehicles were outfitted with faulty Takata airbags may soon receive up to $500.00 under terms of a new consumer settlement.

Owners of nearly 16-million vehicles made by Toyota, Subaru, BMW and Mazda are eligible for compensation.

The amount each car owner is paid will vary; depending upon their circumstances.

The proposed deal, which comes more than eight years after initial reports of the recall first emerged, stipulates that the carmakers will pay $553-million.

Some of that money will go to programs designed to get car owners to get their airbags replaced.

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