News

TJX settles with all but one plaintiff after data-breach suit

December 26, 2007

Digital Transactions: TJX Cos. Inc. has settled with three banking associations and three individual banks that sued after a data breach that potentially compromised some 100 million credit and debit card numbers. Only an Alabama community bank remains in court against the retail opeator. Under the settlement, the Massachusetts Bankers Association, Connecticut Bankers Association, and Maine Association of Community Banks, along with Eagle Bank, Saugusbank, and Collinsville Savings Society, will dismiss all of their claims against TJX. The parties did not release terms of the agreement, but Framingham, Mass.-based TJX said in a release that the amount it expects to pay would primarily be to reimburse the associations and banks for a negotiated portion of the expenses.