Home Depot To Pay $25M To Settle Banks' Data Breach Claims

By Allison Grande (March 9, 2017, 12:17 PM EST) -- Home Depot has agreed to pay $25 million and strengthen its data security practices to resolve a putative class action brought by financial institutions after a 2014 data breach that compromised 56 million credit and debit card numbers, according to documents filed in Georgia federal court late Wednesday.

Home Depot agreed to pay $25 million to financial institutions affected by the data breach after years of litigation. (AP) According to a memorandum in support of the financial institutions' unopposed motion for preliminary approval of the proposed settlement, the parties "after several years of contentious litigation" have reached an agreement that would...

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