follow-up: TJX, banks settle litigation over breach

[lyger <lyger () attrition org>]

http://www.businessweek.com/ap/financialnews/D8TK750O0.htm

TJX Cos. and nearly all the banks and bank associations that sued the 
discount retailer over a massive credit card data breach said Tuesday they 
have settled the lawsuit for an undisclosed amount.

Although both sides said the settlement total would remain confidential, 
TJX said the costs were covered by a $107 million reserve that it set 
aside against its second-quarter earnings.

TJX also has said that $107 million would cover the costs of another 
breach agreement: a Nov. 30 deal with Visa Inc. to help pay a maximum 
$40.9 million to help the network's card-issuing banks recover expenses to 
replace customers' Visa cards.

[...]
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