General Motors has entered into a consent decree with the U.S. government over the timeliness of its ignition switch recall, CNBC has learned.
As part of the deal, the automaker will pay a fine. The Department of Transportation probe into the recall is expected to continue.
The DoT and the National Highway Traffic Safety Administration are scheduled to hold a press conference regarding GM at 11:15 a.m. ET.
GM has recalled millions of cars in recent months and already taken or announced charges of about $1.5 billion. A faulty ignition switch in some older cars has been linked to 13 deaths, and GM has now expanded a safety push to other models with other defects.