U.S. extends oversight of GM's handling of safety issues

WASHINGTON (Reuters) - U.S. regulators will oversee General Motors Co's decision-making about potential vehicle safety issues for an additional year, the National Highway Traffic Safety Administration said on Thursday. The extension requires GM to continue submitting reports to the agency and meeting with staff so that regulators can monitor the automaker's process of investigating potential safety issues, the agency said. Patrick Morrissey, a spokesman for GM, said in a statement that the monthly meetings with regulators required as part of the oversight program fostered a relationship focused on safety. "We've come a long way and we fully intend to build on this progress," Morrissey said. GM last year submitted to the oversight requirements and was fined $35 million over its delayed response to an ignition switch defect in millions of vehicles. Regulators said company officials hid the problem. The highway safety agency on Thursday said it was extending its oversight of GM for another year because it had been a useful tool to address possible safety problems. (Reporting by David Morgan, additional reporting by Joe White and Emily Stephenson; Editing by Steve Orlofsky and Sandra Maler)