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Target Reaches Settlement With Visa Over 2013 Data Breach

Posted on August 18, 2015 by Dissent

Bree Fowler of Associated Press reports:

Target has reached a deal to pay up to $67 million to settle Visa claims related to a massive 2013 data breach that resulted in the theft of millions of debit and credit card numbers.

Both Target Corp. and Visa Inc. confirmed the agreement Tuesday, but wouldn’t put a dollar amount on the deal. A person familiar with the situation said the agreement is worth up to about $67 million in pre-tax payments to Visa and the financial institutions that issued the potentially affected cards.

Read more on Pioneer Press.

Category: Business SectorOf NoteU.S.

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1 thought on “Target Reaches Settlement With Visa Over 2013 Data Breach”

  1. IA Eng says:
    August 19, 2015 at 11:47 am

    No matter the outcome of cost, it is chump change when it comes to the business. The people who’s PII was stolen is a higher priority…..
    58 cents a record? really? This is the reason they fly by the set of their pants until they are a large entity. Then the bottom line cost to them is minute, while the customers have to deal with the real fallout.

    http://www.csoonline.com/article/2932324/data-breach/breach-costs-chump-change-to-bottom-lines-of-big-players.html

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