Schnuck Sues Card Processors To Recoup Data Breach Funds

Law360, New York (November 12, 2013, 2:37 PM EST) -- Grocery chain Schnuck Markets Inc. on Friday asked a federal court to order the release of payment-card revenue its transaction processing servicers First Data Merchant Services Corp. and Citicorp Payment Services Inc. have earmarked for losses from a data breach affecting 2.4 million Schnuck customers.

In a complaint filed in Missouri federal court, Schnuck claims First Data and Citicorp are withholding more transaction money than their merchant payment processing contract permits for the purpose of reimbursing credit- and debit-card-issuing banks' costs on fraudulent purchases and replacement...
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