TJX may settle data breach claim
From Times Wire Services
Discount retailer TJX Cos. could pay as much as $24 million in a settlement with MasterCard Inc. over a massive breach that exposed tens of millions of payment card numbers to hackers.
The TJX agreement, which follows a similar $40.9-million pact in November with Visa Inc., hinges on banks that issue MasterCards agreeing to waive rights to sue TJX in exchange for being paid for breach-related costs.
Issuers of at least 90% of the MasterCard accounts identified as possibly being compromised in the breach must approve the agreement by May 2 for the settlement to take effect, MasterCard and TJX said.
