Home Depot Settles with Financial Institutions

A federal judge has preliminarily approved a proposed settlement of $25 million between Home Depot and financial institutions that issued payment cards that were affected by the Home Depot data breach in 2014. This proposed settlement amount is in addition to the $140 million settlement with other payment card issuers such as American Express and Discover through card brand recovery processes.

The proposed class that is the subject matter of the settlement includes approximately 20-30 percent of the financial institutions that issued credit and debit cards to Home Depot consumers, including 50 financial institutions from 44 states, 16 state credit union associations and the Credit Union National Association. This is the second time a retailer has agreed to a settlement outside the card recovery process-the first was Target’s settlement of financial institutions’ claims in the amount of $19.1 million.

[View source.]


DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Robinson+Cole Data Privacy + Security Insider | Attorney Advertising

Written by:

more+
less-

Robinson+Cole Data Privacy + Security Insider on:

Readers' Choice 2017
Reporters on Deadline

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:

Sign up to create your digest using LinkedIn*

*By using the service, you signify your acceptance of JD Supra's Privacy Policy.

Already signed up? Log in here

*With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name. Or, sign up using your email address.
×
Loading...
×
×