The 28,000-member, $211 million Alabama State Employees Credit Union is the first financial institution to file suit to recoup its losses from Target's massive holiday card data breach.
The Montgomery-based credit union alleged in its complaint that Target was not compliant with card industry data security standards at the time of the incursion that led to the theft of credit and debit card data.
"Among other things, merchants are prohibited from storing unprotected cardholder information," the credit union observed in its class-action complaint filed on Jan. 2 in the U.S. District Court for the Middle District of Alabama.
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