The program will begin receiving claims on Aug. 1, 2014, through Dec. 31, 2014. Even those who already settled claims will be permitted to file again through this program for additional compensation. For more details on the plan and to download a form, go to www.gmignitioncompensation.com.
“We are pleased that Mr. Feinberg has completed the next step with our ignition switch compensation program to help victims and their families," Mary Barra, GM’s chief executive, said. "We are taking responsibility for what has happened by treating them with compassion, decency and fairness. To that end, we are looking forward to Mr. Feinberg handling claims in a fair and expeditious manner.”
Ellen Bloom, senior director of federal policy for Consumers Union, the advocacy arm of Consumer Reports, said: "There is a long list of things that GM must do in the wake of this debacle, and one of them is establish a fund for the victims. We’ve been pressing GM to step up and do the right thing here, and we’re going to sort through the details of the plan unveiled today by Mr. Feinberg. We were concerned that GM’s bankruptcy might be used to deny certain victims from being compensated, or the amount set aside for the fund might be inadequate, but Mr. Feinberg has indicated that won’t be the case. We’re going to be watching closely to make sure people are treated fairly and their claims are processed quickly. Beyond this fund, there are several bills in Congress to improve auto safety and hold manufacturers accountable, and we’re going to keep pushing for these reforms."
In related news, General Motors issued six new recalls today, affecting about 7.6 million vehicles in the United States from model years 1997 to 2014.