Target announces $19 mln data breach settlement with MasterCard

April 15, 2015 10:12 PM

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April 15 (Reuters) - Target Corp said it had agreed to reimburse about $19 million to financial institutions who had issued MasterCard-branded cards that were a part of the massive data breach at the retailer in 2013.

The amount under the settlement with MasterCard Inc covers costs that banks incurred to reissue credit cards and debit cards to customers as a result of the breach, Target said in a statement on Wednesday.

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