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.
|The company said that while leaving out insurance claims it made on account of the card security breach, it made $1.6 million in the first quarter of 2010. To date, since announcing the breach, the company said it has spent $140 million in costs associated with the card data theft, including money to Visa and MasterCard to help recompense card issuers, legal claims, and investigations, the company said.
|Heartland also said it carries a $42.8 million reserve on its balance sheet to help it address remaining claims.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
- Exclusive discounts on ALM and CU Times events.
- Access to other award-winning ALM websites including Law.com and GlobeSt.com.
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
