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Breaking News

Updated: Friday, May 1, 2015

Small banks push for fair share of breach settlements

A group of community banks and credit unions filed a motion on April 27, 2015, to address what its members believe are inequities in Target Corp.'s $19 million data breach settlement with MasterCard Worldwide, which Target disclosed on April 15. The group is appealing the court's decision calling for issuers participating in the settlement to release all legal claims against Target. The claimants assert that proceeds from the settlement inadequately compensate them for card reissuance and other breach-related costs.

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