Five outstate Minnesota banks sue Target over data breach

[InfoSec News <alerts () infosecnews org>]

http://www.startribune.com/business/246983121.html

By: JENNIFER BJORHUS
Star Tribune
February 24, 2014

A group of First Farmers & Merchants banks in southern Minnesota have sued 
Target Corp. over alleged damages from the retailer’s data breach late 
last year.

While a number of financial institutions from around the country have sued 
the company since news of the data heist broke, the First Farmer & 
Merchants lawsuit is believed to be the first by a financial institution 
on Target’s home turf in Minnesota.

“The way that this has happened, it’s the banks whose exposure is greatest 
here, ” said Garrett Blanchfield, a lawyer at Reinhardt Wendorf & 
Blanchfield in St. Paul representing the local banks. “We think the 
Minnesota laws provide a sound basis for us.”

The complaint doesn’t specify a damage amount but says the banks have had 
to refund fraudulent charges, close and reopen checking and savings 
accounts and cancel and re-issue credit and debit cards.

[...]

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