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TJX Data

Boston, MA: (Nov-30-07) Visa and Fifth Third Bank brought charges against TJX, over a massive data breach. As part of a settlement reached TJX agreed to pay as much as $41 million in a settlement with Visa and the bank that processes TJX's credit card payments over the data breach. Sources claimed that the Framingham-based discount retailer stated that the funds will be used to help US credit card issuers recover costs to reissue cards as a precaution after the breach. Additionally, a federal judge in Boston presiding in a lawsuit brought by several banks has ruled in favor of TJX on a key aspect of the case. The judge said the banks cannot pursue claims against TJX and Cincinnati-based Fifth Third as a class, and must try to individually recover costs from reissuing customers' cards. [WPRI NEWS: DATA BREACH]


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Published on Dec-3-07


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