A year and a half after an estimated 40 million credit and debit card accounts were hacked during the 2013 holiday shopping season, Target has reached a settlement with Visa.”Target is pleased that we have reached a settlement agreement with Visa related to the data breach we experienced during the fourth quarter of 2013,” the company said in a statement given to USA TODAY on Tuesday. The settlement, which was reached on Monday, is for up to $67 million, and depends on how many issuers accept the agreement, according to a person familiar with the details who was not authorized to speak publicly about the deal.Target settled with consumers in March in a $10 million agreement, while a $19 million settlement with MasterCard fell through earlier this year when it to failed to have enough financial institutions accept the offer. MasterCard says it has a revised offer from Target that it’s in the process of presenting to issuers for consideration.In the Visa case, Target has already received agreement from a group of issuers representing the majority of Visa cards affected.”Visa has worked to help Target reach a resolution for the expenses incurred by financial institutions as [a] result of the 2013 compromise,” Visa said in a statement. ”This… Read full this story
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