DETROIT — Chrysler is recalling nearly 350,000 older cars and SUVs to fix defective ignition switches that can cause the vehicles to stall.

With the latest recall, Chrysler has called back more than 2 million vehicles for defective switches. The switches can slip out of the “on” position, which is similar to the problem that forced General Motors to recall millions of vehicles this year.

The new recall covers Jeep Commander and Grand Cherokee SUVs, Chrysler 300 and Dodge Charger sedans and Dodge Magnum wagons from the 2008 model year. All were built before May 12, 2008.

WASHINGTON — U.S. Bank is refunding about $48 million in the latest federal settlement by a major bank over improper billing for extra credit card products that customers didn't receive.The Consumer Financial Protection Bureau announced the agreement Thursday with U.S. Bank, the sixth-largest bank by assets. The bank was ordered to repay about 420,000 customers who signed up for credit monitoring products and charged for services they didn't receive. In addition, the Minneapolis-based company is paying $9 million in penalties to the CFPB and the Treasury Department agency that oversees national banks.It was the latest in a string of sanctions against major banks over billing for credit card “add-ons,” which are optional products or services sold to cardholders at additional cost.

DETROIT — Standard & Poor's has returned General Motors to investment grade after rating it junk for nearly a decade.The firm upgraded GM's corporate credit rating Thursday one notch to “BBB-” — its lowest investment grade — from “BB+.”Standard & Poor's Rating Services lowered GM to junk status in 2005, four years before its bankruptcy. The automaker recovered and earned $4.7 billion last year.S&P says it expects GM will sustain its improving profits in North America and achieve profitability in Europe soon. It also noted GM's strong sales in China.

SAN FRANCISCO — Apple's response to a high-profile gaffe involving its iPhone software may be more important than the glitch itself.As the giant tech company scrambled to fix a software glitch that left some of its new iPhones unable to make calls, some analysts said Thursday that Apple is doing the right thing by quickly acknowledging and apologizing for the problem.Apple released a new update late Thursday that the company said would repair the problems caused by software it released Wednesday morning.“There's a certain perception that Apple has to get things right, and when they don't, the whole company gets questioned,” said Carolina Milanesi, chief of research at Kantar Worldpanel. “But they came out and said 'We apologize; we're working 24/7 to fix it.' I think that's what matters.”