Payments

Judge Grants Class Action Status to Issuers in Target Suit

A federal court in Minnesota yesterday granted class action status to a lawsuit by financial institutions against Target over the retailer’s 2013 data breach. Institutions eligible for the class include all U.S. issuers of payment cards compromised in the breach.

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Hensarling Challenges Campus Banking Proposal

House Financial Services Committee Chairman Jeb Hensarling (R-Texas) yesterday wrote to the Department of Education challenging its proposed rule that includes some provisions regulating campus bank accounts.

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Chicago Fed’s Aadland to Lead Secure Payments Strategy

The Federal Reserve today named Todd Aadland as the system’s secure payments strategy leader, responsible for leading the Fed’s efforts to manage fraud risk and advance the payments system’s safety and resiliency as the Fed and private sector move toward faster payments.

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