Honda to pay $70M for failing to report safety problems

Failure to fully report potential safety defects will cost American Honda Motor Co. $70 million. The automaker Thursday announced an agreement with the National Highway Traffic Safety Administration where it will pay a $70 million civil penalty and agree to improve its early warning report processes. NHTSA launched an investigation into Honda's reporting practices in November after this summer's recall of vehicles with air bags made by Takata Corp., an airbag supplier to several automakers and…