Byline: Jeff Plungis Bloomberg News
The U.S. Consumer Product Safety Commission adopted new rules that will make it easier to fine companies for defects in the goods they sell and paved the way for an eightfold increase in maximum penalties to $15 million.
The CPSC, which typically fines companies when their products cause injury or death, voted 4-1 Wednesday to broaden the list of reasons it may consider to include illnesses. The rules also permit the agency to impose penalties even if no one is hurt if the risk to consumers from a product is serious enough, according to an agency document explaining the new regulations.
The agency is acting on legislation …