German Automaker Volkswagen and the U.S. Justice Department are approaching a mutual agreement on the government’s civil and criminal investigations which would have the automaker to pay more than $3 billion.
According to news source CNBC, the agreement is not final and could still change or fall apart but a deal could be announced as early as next week. Volkswagen is also likely to face oversight by an outside monitor and agree to other significant reforms in connection with its diesel cheating scandal as part of a likely deferred prosecution agreement. Volkswagen has previously agreed to pay up to $17.5 billion to resolve claims by owners, federal and state regulators and dealers.
Regulators continue to crack down on auto companies that have been producing false emission tests. Volkwagen will probably have to pay in full to resolve the claims.