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General Motors establishing victim compensation fund

General Motors Co's new chief executive Mary Barra addresses the media during a roundtable meeting with journalists in Detroit, Michigan Jan
General Motors Co's new chief executive Mary Barra addresses the media during a roundtable meeting with journalists in Detroit, Michigan Jan

DETROIT (WKZO) -- A compensation fund for the families of victims and those seriously injured in General Motors vehicles is being established.

CEO Mary Barra announced this morning that a program to accept claims may begin by August 1st. Barra and other GM executives released details of their internal investigation of a botched recall of over 2.5-million vehicles with faulty ignition switches.

The problem has reportedly led to hundreds of accidents involving 13 deaths and dozens of injuries since 2007.

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