Credit Union Hits Target With Data Breach Class Action

Law360, Los Angeles (January 2, 2014, 7:40 PM EST) -- Target Corp. was hit with another putative class action Monday over hackers’ theft of credit and debit card information for up to 40 million customers, filed in Alabama federal court on behalf of banks claiming the breach defrauded their customers.

The suit alleges that named plaintiff, the Alabama State Employees Credit Union, and other financial institutions suffered losses when they refunded their customers for fraudulent charges, closed accounts, and reissued new checks, debit cards and credit cards.

“Because Target failed to maintain adequate computer data security...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.