Credit union MasterCard issuers will likely be among the financial institutions that will share in a settlement between Heartland Payment Systems and MasterCard over the firm's 2008 data security breach.
Heartland Payment Systems, the company that suffered a 2008 card security breach that cost card issuers, including credit unions, hundreds of millions of dollars made money in the first quarter of 2010, according to the company.
Albert Gonzalez, the hacker who led a multinational group of friends and associates through some of the biggest retail hacks of card data in history,
Albert Gonzalez, the hacker whose electronic thievery cost credit unions and other card issuers millions of dollars when he hit the card processor Heartland Payment Systems, received a sentence of twenty years and a day for the Heartland hack attacks.
Three law firms representing credit unions and other card issuers with litigation pending against Heartland Payment Systems are urging card issuers to reconsider signing on to the offer.
Three Houston law firms representing credit unions and other card issuers in litigation against Heartland Payment Systems over the firm's 2008 card data security breach have criticized a proposed settlement of those cases.
Heartland Payment Systems has made an agreement with VISA Inc. under which some Visa issuers will be eligible for compensation for losses suffered because of the breach.