The team handling the fund established by General Motors completed processing the more than 4,300 claims submitted, denying 91% of them.
GM recalled nearly 2.6 million small cars last year due to a faulty ignition switch. The switch allowed the ignition to move from the “on” to the “accessories” position, cutting the power to the car’s power steering and airbag.
Led by Kenneth Feinberg, the attorney who oversaw similar funds for BP, 9/11 victims and other events, the fund approved 399 of the 4,343 claims filed and rejected 3,944. (more…)