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Proposed US Settlement In VW Emissions Scandal Contains $4.3 Billion In Fines

FRANKFURT, Germany (CBS/AP) -- Volkswagen says it is in "advanced talks" with United States authorities over a proposed settlement that contains $4.3 billion in criminal and civil fines over its diesel emissions scandal.

The draft settlement would require the company to strengthen compliance efforts, including the appointment of an independent monitor.

A company statement said Tuesday that under the proposal Volkswagen would agree to "a guilty plea" to criminal law provisions.

The draft needs to be approved by Volkswagen's board and U.S. courts.

Volkswagen 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.

The company has agreed to a $15 billion civil settlement with environmental authorities and car owners in the U.S.

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