TJX to Shell Out $41M in Data Breach Settlement
Published November 30th, 2007
The price tag on the largest database breach on record moved higher Friday with TJX agreeing to pay nearly $41 million to settle with credit card companies and banks that were forced to issue new cards to customers of the retailer to prevent or recover fraudulent charges. TJX said it would pay $40.9 million through Visa and Visa USA to cover the costs associated with issuing new cards and other means of ensuring that Visa cardholders whose accounts may have been compromised in the breach did not become victims of fraud and identity theft.
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