MINNEAPOLIS–A new website, TargetBankSettlement.com, has been set up to provide information to financial institutions that are part of the proposed class-action settlement with Target over its data breach.
Financial institutions, including credit unions, have been receiving information urging them to review the site for updates and news related to the proposed settlement. On Dec. 2 the U.S. District Court of Minnesota provided preliminary approval for a $39-million settlement between Target and FIs that incurred costs related to the 2013 data breach.
There are two deadlines affected credit unions need to watch. The first is a March 1 postmark deadline for any party with exclusion requests, objections or notices of intent to appear. The second is a March 22 deadline for FIs to complete and submit either a paper or online claim to settlement funds.
The court has scheduled a final approval hearing for May 10.