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Daily Dashboard | Banks Challenge Target’s $19 Million Breach Settlement Related reading: A view from DC: The path to IAPP Global Privacy Summit 2024

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Financial institutions are challenging Target’s $19 million data breach settlement with MasterCard, Reuters reports. A group of small banks and credit unions filed a motion Tuesday in an attempt to void the settlement. Attorneys representing the group called the settlement a “sweetheart deal,” noting the financial institutions were not included in the negotiations. “The agreement between Target and MasterCard is nothing more than an attempt by Target to avoid fully reimbursing financial institutions for losses they suffered due to one of the largest data breaches in U.S. history,” the attorneys said. The motion to void will be heard next Monday. Target is currently in settlement negotiations with Visa.
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