Target Agrees to $39 Million Settlement in Data Breach Suit

If approved in federal court, the settlement would earmark $20 million for the credit unions and other financial institutions that joined the class action suit.

What Your Credit Union Needs to Know About Cyber Security Dangers and Data Breach Protection

Join this free educational webinar to learn how you can protect your credit union, your members, and your assets from fraud, theft, and liability—presented by Vero.

FIs’ Certified as Class Members in Target Breach Suit

The decision allows credit unions and other financial institutions to coordinate use of attorneys, collection of evidence, requests of witnesses, and more.

Join Conference Call on Target Breach Settlement

This Thursday, August 27, Northwest credit unions are invited to join a conference call addressing the settlement between Visa and Target over Target’s 2013 data breach, and the litigation that remains pending.

Visa to Contact Credit Unions Over Target Breach Settlement

Target has agreed to reimburse Visa card issuers up to $67 million for costs associated with their massive 2013 data breach.

Northwest Credit Unions Boost Breach and Fraud Protection with Vero Partnership

Vero, a leading provider of identity theft and data breach protection and recovery services, is offering its services to Northwest credit unions through a partnership with Strategic Link.

Washington Legislative Update: Regular Session Ends Sunday

Credit union bills are headed to the governor as the legislative session comes to an end. A special session may be necessary to pass a budget.

It’s not IF—It’s WHEN: Prepare Your Credit Union for Data Breach Aftermath

With data breaches becoming an unavoidable feature of the financial landscape, CUNA Mutual Group points out key risk areas for credit unions.

Washington Legislative Week in Review, Jan 26-30

Two new credit union bills introduced, supplemental operating budget passes House, plus movement on other important bills.

National News Bullets

Inspector general investigates NCUA exam breach, NCUA sues Wells Fargo—from CUNA’s News Now.

Data Breaches a Real and Expensive Threat for all Financial Institutions—Including Credit Unions

CUNA Mutual Group breaks down the difference between payment card breaches and cyber breaches to help credit unions protect themselves.

Home Depot Breach Cost Northwest Credit Unions $3.2 Million: CUNA

In a new report, CUNA estimated that 7.2 million credit union debit and credit cards were affected nationally, at a cost to credit unions of nearly $60 million.

Massive Credit Card Breach at Home Depot

Update: Home Depot acknowledges that they are the source of stolen credit cards. All U.S. and Canadian customers at risk.

NW Cost of Responding to Target Data Breach Now $1.7 Million, Latest CUNA Figures Show

Updated estimates from the Credit Union National Association now put the cost of responding to the Target data breach at $1.7 million for Northwest credit unions as the average cost per affected card continues to rise. Credit unions’ cost to date nationwide: $30.6 million.

NWCUA will Use Data Breach Survey Results to Fight for Tougher State, Federal Laws

Credit unions that respond to two online surveys can help the Northwest Credit Union Association build a strong case for legislative action in the wake of national and regional data breaches that compromised the financial information of millions of consumers.

Update: Michaels Now Investigating Data Breach at its Stores Nationwide

Consumers still reeling from a massive data breach at Target stores and the theft of financial information from luxury department store Neiman Marcus got more bad news this week: Michaels Stores Inc, the nation’s largest arts-and-crafts retailer, now says that it, too, is investigating fraud on cards used at its outlets across the country.

Cost of Responding to the Target Breach in the Northwest: $1.3 Million and Counting

Northwest credit unions have already spent an estimated $1.3 million responding to the massive theft of financial data from Target stores, and the preliminary results of a nationwide survey indicate that those costs could grow substantially if fraud losses mount.

GAO: Data Breach Policies Challenge Even Government Agencies

Merchants and financial institutions aren’t the only ones with data breach headaches. A recent U.S. Government Accountability Office study reviewed eight federal agencies and found that while they “generally” developed data security breach policies and procedures, they inconsistently implemented them.