Ron Burgundy Posted March 26, 2014 Share Posted March 26, 2014 Target Corp and Trustwave Holdings Inc, which provides credit card security services, have been sued by two banks for "monumental" losses they say card issuers will face because of the retailer's holiday season data breach. In a complaint filed on Monday in Chicago federal court, Trustmark National Bank and Green Bank NA accused the defendants of failing to properly secure customer data, enabling the theft of about 40 million payment card records plus 70 million other records, including addresses and phone numbers. While the complaint seeks unspecified damages of at least $5 million, New York-based Trustmark and Houston-based Green Bank said losses could top $1 billion for card issuers they hope to represent in a class action, and $18 billion for banks and retailers combined. View the full article Quote Link to comment Share on other sites More sharing options...
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