Under the law, companies are required to report product hazards to CPSC. If companies are aware of product hazards but fail to report them, the companies risk serious civil and/or criminal penalties. CPSC's new programs focus on correcting product hazards rather than punishing misconduct.

For a six-month period beginning on August 17, the date of notice in the Federal Register, companies can report product hazards that they had failed to report earlier, without facing fines. This program is designed to motivate firms to "clean out their closets" of unreported hazards and take any corrective action that is necessary. This will encourage companies to work with CPSC to remove dangerous products from the marketplace.

"Our mission is to keep people safe in their homes," CPSC Chairman Ann Brown said. "Programs like these will help save lives."

In addition, CPSC has announced a new program to streamline government and make recalls occur more quickly. If a manufacturer agrees to conduct a requested recall quickly, CPSC will expedite its customary hazard analysis and not make a preliminary hazard determination. This will accelerate the recall process and get potentially dangerous products out of the hands of consumers, while alleviating industry concerns that a formal staff determination of hazard may have adverse consequences in private litigation.

"We are eliminating possible deterrents to prompt reporting and quick recalls," Brown said. "These initiatives are another example of how CPSC is living up to its reputation as a model government agency and fulfilling its role in what I call the safety triangle: the cooperation between industry, the government and consumers."