ABA Banking Journal
No Result
View All Result
  • Topics
    • Ag Banking
    • Commercial Lending
    • Community Banking
    • Compliance and Risk
    • Cybersecurity
    • Economy
    • Human Resources
    • Insurance
    • Legal
    • Mortgage
    • Mutual Funds
    • Payments
    • Policy
    • Retail and Marketing
    • Tax and Accounting
    • Technology
    • Wealth Management
  • Newsbytes
  • Podcasts
  • Magazine
    • Subscribe
    • Advertise
    • Magazine Archive
    • Newsletter Archive
    • Podcast Archive
    • Sponsored Content Archive
SUBSCRIBE
ABA Banking Journal
  • Topics
    • Ag Banking
    • Commercial Lending
    • Community Banking
    • Compliance and Risk
    • Cybersecurity
    • Economy
    • Human Resources
    • Insurance
    • Legal
    • Mortgage
    • Mutual Funds
    • Payments
    • Policy
    • Retail and Marketing
    • Tax and Accounting
    • Technology
    • Wealth Management
  • Newsbytes
  • Podcasts
  • Magazine
    • Subscribe
    • Advertise
    • Magazine Archive
    • Newsletter Archive
    • Podcast Archive
    • Sponsored Content Archive
No Result
View All Result
No Result
View All Result
ADVERTISEMENT
Home Legal

Target Reaches Settlement with Visa over Data Breach

August 18, 2015
Reading Time: 1 min read

Case: In re: Target Corp. Customer Data Security Breach Litigation

Issue: Target Corp.’s (Target) $67 million settlement with Visa Inc. (Visa) to reimburse card issuers for costs incurred from the 2013 data breach.

Case Summary: Target reached an agreement with Visa to pay approximately $67 million to reimburse card issuers for costs incurred from the 2013 data breach.

The settlement agreement was conditioned on Visa’s confirmation that a subset of issuers that represented the majority of the Visa cards that Visa determined were at risk from the breach settled with Target and Visa. The agreement was ratified on August 18, 2015.

The settlement agreement also stipulated that Visa issuers will receive more if Target reaches a settlement with MasterCard that provides for greater than the average of $3.01 per account that is covered by that settlement.

Bottom Line: The deadline for eligible issuers to accept their alternative recovery offers is September 4, 2015.

ADVERTISEMENT
Tags: Data breaches
ShareTweetPin

Author

Thomas Pinder

Thomas Pinder

Thomas Pinder is senior vice president and deputy general counsel at ABA.

Related Posts

Senate Democrats seek proposals for regulatory changes following recent bank closures

Stablecoin bill clears Senate

Newsbytes
June 17, 2025

The Senate voted in favor of legislation to establish a regulatory framework for payment stablecoins, with proposed amendments to establish routing mandates and interest rate caps for credit cards left out of the final bill.

BAFT releases report on best practices, guidance for ISO 20022 migration

CFPB to delay small-business lending data collection compliance dates

Compliance and Risk
June 17, 2025

The CFPB will issue an interim final rule today to push back by roughly a year the compliance dates for its small-business data collection requirements, according to a filing in the Federal Register.

ABA comments on proposal to improve accounting in tax credit structures

Senate tax measure contains provisions on ACRE, pass-through business deduction

Ag Banking
June 17, 2025

The Senate Finance Committee released its reconciliation tax text that contains several differences from the version passed by the House, including changes to provisions related to the ACRE Act and the Section 199A passthrough business deduction.

Business inventories rise in February

Business inventories flat in April

Economy
June 17, 2025

Business inventories in April came in at $2.66 trillion, virtually unchanged from the month prior and up 2.2% from a year ago, the Commerce Department said.

Industrial production rose in March

Industrial production fell in May

Economy
June 17, 2025

Industrial production decreased 0.2% in May from the previous month, the Federal Reserve reported.

Home builder confidence unchanged in April

Home builder confidence declines in June

Economy
June 17, 2025

Builder confidence in the market for single-family homes in June was 32, down from 34 the previous month, according to the NAHB/Wells Fargo Housing Market Index.

NEWSBYTES

Stablecoin bill clears Senate

June 17, 2025

CFPB to delay small-business lending data collection compliance dates

June 17, 2025

Senate tax measure contains provisions on ACRE, pass-through business deduction

June 17, 2025

SPONSORED CONTENT

AI Compliance and Regulation: What Financial Institutions Need to Know

Unlocking Deposit Growth: How Financial Institutions Can Activate Data for Precision Cross-Sell

June 1, 2025
Choosing the Right Account Opening Platform: 10 Key Considerations for Long-Term Success

Choosing the Right Account Opening Platform: 10 Key Considerations for Long-Term Success

April 25, 2025
Outsourcing: Getting to Go/No-Go

Outsourcing: Getting to Go/No-Go

April 5, 2025
Six Payments Trends Driving the Future of Transactions

Six Payments Trends Driving the Future of Transactions

March 15, 2025

PODCASTS

Podcast: Old National’s Jim Ryan on the things that really matter

June 12, 2025

Podcast: What bankers need to know about ‘First Amendment audits’

June 5, 2025

Podcast: Accelerating banking for quick-service restaurants

May 8, 2025
ADVERTISEMENT

American Bankers Association
1333 New Hampshire Ave NW
Washington, DC 20036
1-800-BANKERS (800-226-5377)
www.aba.com
About ABA
Privacy Policy
Contact ABA

ABA Banking Journal
About ABA Banking Journal
Media Kit
Advertising
Subscribe

© 2025 American Bankers Association. All rights reserved.

No Result
View All Result
  • Topics
    • Ag Banking
    • Commercial Lending
    • Community Banking
    • Compliance and Risk
    • Cybersecurity
    • Economy
    • Human Resources
    • Insurance
    • Legal
    • Mortgage
    • Mutual Funds
    • Payments
    • Policy
    • Retail and Marketing
    • Tax and Accounting
    • Technology
    • Wealth Management
  • Newsbytes
  • Podcasts
  • Magazine
    • Subscribe
    • Advertise
    • Magazine Archive
    • Newsletter Archive
    • Podcast Archive
    • Sponsored Content Archive

© 2025 American Bankers Association. All rights reserved.