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Target, MasterCard reach agreement on cyber breach
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Case Law, Consumer Protection
Tuesday, April 21, 2015
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Cyber breaches often result in large costs to creditors in terms of account cancelations, opening new accounts, replacing credit cards for affected consumers as well as loss of consumer trust. After months of negotiations, Target has agreed to pay up to $19 million in reimbursements to MasterCard credit card issuers as a result of the retailer’s data breaches in 2013.
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