Target Hack Costs Over $200M For Banks, Groups Say

Law360, New York (February 19, 2014, 5:22 PM EST) -- The Consumer Bankers Association and the Credit Union National Association said Tuesday the costs of card replacements associated with the Target holiday data breach has now exceeded $200 million, an increase of almost $50 million over the previous estimate.

The CBA estimates the cost of card replacements for its member banks — which include JPMorgan Chase Bank NA, Bank of America Corp., Citigroup Inc. and Wells Fargo & Co. Inc. — to have reached $172 million, up from an initial finding of $153 million, it said....
To view the full article, register now.