Target's breach-related expenses not covered by insurance have totaled $162 million so far, its latest financial report shows. And experts say the breach could continue to have a financial impact for years to come.
A federal judge has denied Target's motion to dismiss a consolidated class action lawsuit filed on behalf of consumers affected by the retailer's December 2013 data breach. The move follows a similar ruling regarding a class action lawsuit involving banks.
A federal judge has denied Target's motion to dismiss a class action lawsuit brought against it by several banking institutions following the retailer's December 2013 data breach that exposed 40 million credit and debit cards.
Three Democratic senators are calling for a hearing to examine whether stronger cybersecurity standards are needed to protect consumer data following a massive breach at Target that affected as many as 40 million debit and credit cards.
Determining the "fairness" of Target's proposed $39 million settlement with financial institutions affected by the retailer's 2013 breach is impossible until we find out the answers to many questions, including how many banks and credit unions qualify.
The breach at Target stores that may have affected as many as 40 million credit and debit card account holders is a watershed moment that could greatly raise awareness of cybersecurity risks, says privacy attorney David Navetta.
Expenses linked to the data breach at Target Corp. have already cost the 58 member institutions of the Consumer Bankers Association more than $170 million - a price they should not have to pay, says the association's David Pommerehn.