Home Depot Nailed With 1st Bank Suit Over Data Breach

By David McAfee (September 17, 2014, 9:37 PM EDT) -- The Home Depot Inc. was hit with a proposed class action in Georgia federal court Tuesday, in which First Choice Federal Credit Union claims it suffered losses as a result of the home improvement store's recent data breach — marking the first such suit brought by a financial institution.

First Choice seeks to recover damages on behalf of credit unions, banks and other financial institutions that were injured when hackers breached Home Depot's payment card data, according to the complaint. Pennsylvania-based First Choice says the "massive security breach" began in April and included Home Depot's customers' names, credit and debit card...

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