News & Analysis as of September 20, 2024

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Exploring the Potential of Georgia's Merchant Acquirer Limited Purpose Bank Charter — Payments Pros: The Payments Law Podcast
Consumer Finance Monitor Podcast Episode: Understanding the Federal Reserve Board Proposal to Lower Interchange Fee Cap for Debit Card Transactions
GIACT and Hudson Cook Break Down NACHA’s New Account Validation Rule

Financial Services Companies Seek Larger Payout in Target Data Security Suit

Bilzin Sumberg on 9/28/2015

Attorneys for certain banks and other financial institutions that are caught up in Target’s 2013 data breach are objecting to the $67 million deal struck last week between the retailer and Visa Inc. The banks and credit...more

Target settles with MasterCard for $19M for data breach losses

Robinson & Cole LLP on 4/21/2015

Target Corp. announced yesterday that it has settled the claims of MasterCard International Inc. (MasterCard) against it to reimburse MasterCard and its card issuers for the losses it sustained in issuing new credit and debit...more

Will 2015 Be The Year of the Data Breach Class Action?: Target Data Breach Claims Survive Motions to Dismiss

Carlton Fields on 1/14/2015

Various media outlets dubbed 2014 “the Year of the Data Breach.” Unfortunately for businesses, breach of their secure systems by hackers may be only the beginning of the bad news – which often culminates in class action...more

Data Breach Litigation – Financial Institutions Score Another Shot

Butler Snow LLP on 1/13/2015

Previously I wrote about banks joining the legal battle over data breaches. Anyone not living under a rock knows that there is multidistrict class action litigation involving Target’s massive data breach in December 2013...more

Ruling Gives New Life to Bank Claims Against Breached Retailers in Target Case

BakerHostetler on 12/4/2014

One common occurrence after the disclosure by a retailer of a breach affecting card present payment card data used to be the filing of claims by banks that issued payment cards affected by the incident. The banks bringing the...more

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