Join Conference Call on Target Breach Settlement

The conference call will take place at 9:00 a.m. PDT on Thursday, August 27, and will provide credit unions information on the settlement and the pending class-action litigation, as well as recommendations from the lead plaintiffs’ counsel.

Informational Call on Target/Visa Settlement:

  • Dial-in #: (844) 286-3346
  • Code: 18281352

A settlement was recently announced between Target and Visa for the losses suffered by financial institutions in the 2013 Target data security breach. These include the costs of fraud, issuing new cards, and other losses.

According to plaintiffs’ counsel, many credit unions and banks have since expressed questions and concerns about the settlement, as it does not fully compensate financial institutions for the losses suffered as a result of the breach.

A similar settlement with between Target and Mastercard was rejected by financial institutions in May. More information can be found at this website created by the plaintiffs’ legal representatives.

The Association will keep member credit unions informed on the settlement, litigation, and Northwest credit unions’ options in seeking compensation for losses they suffered due to the breach.

Questions about this story? Contact James Pearson: 206.340.4790, jpearson@nwcua.org.

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