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.
The payment's processing firm experienced a card data security breach in 2008 that continued for months, which the firm made public in January 2009. Some card security experts consider it the largest card security breach in history, though the company has never publicly announced how many card accounts were actually compromised.
Under the settlement, alternative recovery offers totaling $41.4 million will be made to eligible MasterCard issuers with respect to losses alleged to have been incurred by them as a result of the criminal intrusion, and MasterCard will recommend that eligible MasterCard issuers accept such offers, the company said when announcing the settlement.
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