Target Settles Data Breach Lawsuit With MasterCard for $19M
Anne D’innocenzio and Marley Jay of AP report:
Target and MasterCard say they’ve agreed to settle lawsuits over the discounter’s pre-Christmas 2013 massive data breach.
Target said late Wednesday it has set aside up to $19 million for banks and credit unions issuing MasterCards that were caught in the data breach that compromised 40 million credit and debit card accounts between Nov. 27 and Dec. 15, 2013.
MasterCard Inc. said the money will be available to banks and credit unions for operating costs and fraud-related losses on cards believed to have been affected. The settlement will go into effect if at least 90 percent of eligible issuers accept the offer by May 20.
Read more on ABC.