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Data breach could lead to $24 million settlement
The parent company of T.J. Maxx and Marshalls could pay as much as $24 million dollars to settle a massive data breach.
The settlement with MasterCard is over a breach that exposed tens of millions of credit card numbers to hackers.
The deal is similar to a $40 million dollar payment T.J.X. worked out with Visa at the end of the year.
It waives the rights of the credit card companies to sue the retailer in exchange for money to pay for breach-related costs.
The latest pact comes as new numbers show data breaches in the first three months of this year are more than double the total in last year's first quarter.
Posted by Lori Stassi on April 3, 2008 2:35 AM PT | Permalink
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