As one of the largest retailers in the United States, consumers expect Target to live up to high standards. This is particularly true when it comes to security and safety. Unfortunately, the company recently ran into some major issues with a data breach.
As a result of this, two banks have filed a class action lawsuit against the retailer. Additionally, millions of Target customers are disappointed with the retailer and how their credit card information was not kept safe.
Our California readers, among others, may have been impacted by this data breach. At this time, however, only two banks are involved in this class action lawsuit: First National Bank of Texas and the Community Bank of Texas. That being said, there is a chance that other banks could join in on the lawsuit at some point in the future.
These banks believe that Target could have taken preventative measures, while failing to implement industry standard security measures. While it is easy to see why consumers are mad, it is important to note that banks were impacted as well. Many have covered the expenses associated with reimbursing customers who ran into fraudulent charges, as well as mailing new cards to customers.
When this data breach first made its way to the public it was easy to see that things were going to get messy sooner rather than later. This is exactly what has happened, especially now that several banks are moving forward with a class action lawsuit.
With the help of an experienced attorney, class action lawsuits can be filed by individuals and businesses.
Source: CBS DFW, "Banks File Class Action Lawsuit Against Target" No author given, Feb. 03, 2014