GM to pay $35 million maximum penalty in U.S. transportation probe

WASHINGTON (Reuters) - General Motors will pay a $35 million fine as part of the U.S. Transportation Department's investigation into the handling of faulty ignition switches in some of its vehicles, the automaker and department officials said on Friday.

As part of the agreement, GM also agreed to take part in "unprecedented oversight requirements," including notifying federal transportation officials of any changes to the company's schedule for completing repair parts by October 4, the department's National Highway Traffic Safety Administration said in a statement.

(Reporting by Susan Heavey; Editing by Bill Trott)