A federal judge has approved Volkswagen's $14.7 billion settlement over the carmaker's vehicle emissions scandal. The process of compensating affected U.S. car owners is beginning now, with the first buybacks expected to happen within the next few weeks.
Under the terms of the deal, Volkswagen agrees to either buy back or repair vehicles involved in the scandal. That means paying as much as $10.033 billion to owners. In addition, the carmaker has come to an agreement with the United States under which it will pay nearly $5 billion in environmental remediation.