Timing Chain & Guides

I have a 2007 Nissan Frontier 4.0 V6. About a month ago it started making a loud banging noise,much louder when accelerating. I recently had the oil changed, and the mechanic told me it was the timing chain & guides, it only has 43,700 miles, he also said this is a major problem with this engine (4.0.V6)not only the Frontier but also the Nissan Quest. He told me there should be a recall since it is a manufacturing defect in the design, and there are so many vehicles with the same problem. He pulled up the Nissan web page, and of course there aren't any at this time. It will cost over $1200 to make the necessary repairs. I was also told that the radiator will eventually leak anti-feeze into the transmission,and cause that to fail also. Since it is obvious a "manufacturing defect", Nissan should be responsible to replace and make the necessary repairs at no cost. It is my opinion that the timing chain and guides are also a Safety Issue, due to if driving on the highway and the engine fails/stalls, lose control of the vehicle. - Has anyone else experienced similar problem,, if so how was it settled? - Thank You