Volkswagen: Draft deal in scandal contains $4.3B in fines

FRANKFURT, Germany (AP) — German automaker Volkswagen AG said Tuesday that it was in "advanced talks" with United States authorities over a proposed settlement in its diesel emissions scandal under which the company would pay $4.3 billion in criminal and civil fines.

The draft settlement with the U.S. Department of Justice and U.S. Customs and Border Protection would include the appointment of an independent monitor to oversee the company's compliance and control measures for three years.

"A final conclusion of the settlement agreement is further subject to the execution by the competent U.S. authorities and to the approval of the competent U.S. courts," the company said.

The company has admitted equipping diesel cars with software that turned up emissions controls when the car was being tested, and turned them down during normal driving, improving engine performance but exceeding emission limits.