Mattel fined $2.3 million over lead toy sales

Mattel (MAT) agreed to pay a $2.3 million fine to the Consumer Product Safety Commission for selling toys with excessive levels of lead paint. The toys were made in China and Mattel's recall of 21 million of them in 2007 made headlines across the country.

After the punishment had been settled, CPSC acting chairman Thomas Moore commented, "This penalty should serve notice to toy makers that CPSC is committed to the safety of children, to reducing their exposure to lead, and to the implementation of the Consumer Product Safety Improvement Act."