GM to Pay $900 Million to End Probe Into Faulty Ignitions

By Patricia Hurtado and David Welch, Bloomberg News

General Motors Co. will pay $900 million to settle a criminal probe by the U.S. Justice Department over the ignition switch flaw that has bogged down Chief Executive Officer Mary Barra in recalls and investigations since almost the start of her tenure.

The settlement is part of a deferred-prosecution agreement under which the U.S. will monitor some of the automaker’s safety policies and the company must cooperate with the government, federal prosecutors in New York said Thursday. GM was charged with conspiracy and wire fraud, claims that will be dismissed in three ...