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MasterCard: Most banks agree to breach settlement

Posted on July 15, 2010 by Dissent

The Associated Press reports:

MasterCard Inc. said Thursday nearly all of the banks with claims related to a 2008 data security breach have agreed to accept a settlement.

The settlement, agreed to by MasterCard and credit card payment processor Heartland Payment Systems Inc., required at least 80 percent acceptance by MasterCard issuing banks. MasterCard said more than 99 percent agreed.

[…]

As part of the settlement, Heartland Payment Systems will pay MasterCard issuers $41.4 million to settle claims over the breach.

Read more on Businessweek.

Related posts:

  • Heartland in $60 mln settlement agreement with Visa
  • MasterCard Reaches Settlement With Heartland Payment Systems To Provide Issuers Worldwide Up To $41.4 Million For Data Breach Claims
  • Heartland lawsuit plaintiffs go after acquiring banks’ deep pockets
  • NYS Consumer Protection says “Action Needed in Heartland Breach”
Category: Breach IncidentsFinancial SectorHackU.S.

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