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Target Corporation has agreed to pay financial institutions almost $40 million to settle a class-action suit related to its massive 2013 data breach.

According to an announcement from the attorneys representing the plaintiffs, the proposed settlement of up to $39,357,938.38 will apply to all U.S. financial institutions that issued payment cards put at risk as a result of the data breach. That includes up to $20,250,000 that will go directly to members of the class action and to pay for the notice and administration of the settlement. The remaining $19,107,939.38 will fund MasterCard’s Account Data Compromise program, according to the announcement.

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Tina Orem


Credit Union Times

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