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Kmart Says Banks Not Covered By Consumer Fraud Laws

Law360, New York (October 13, 2015, 3:53 PM EDT) -- Kmart has urged an Illinois federal judge to dismiss a proposed class action brought by a group of banks accusing it of using outdated security measures when hackers breached its networks last year, saying their consumer fraud claims are meritless because the banks aren’t consumers.

Kmart Corp. on Oct. 9 said in a motion to dismiss that the financial institutions, led by Greater Chautauqua Federal Credit Union, are attempting to skirt a contractual system that assesses and facilitates recovery from merchants for fraud and other expenses....
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