[Dataloss] (update) TJX reaches $40m settlement with Visa over data breach

[lyger]

http://www.boston.com/business/ticker/2007/11/tjx_reaches_40m.html

Framingham retailer TJX Cos. said this morning it has reached an agreement 
with payment card network Visa USA Inc. to fund up to $40.9 million for 
payments to certain banks following a massive breach of TJX's computer 
systems through last year.

Under the terms of the agreement, TJX, the parent of discount chains 
including TJ Maxx and Marshalls, said banks that issued Visa payment cards 
potentially affected by the computer breach could receive payments in 
return for agreeing not to sue or take other steps against TJX and banks 
such as Fifth Third Bancorp of Ohio that process its transactions.

Roughly 100 million credit- and debit-card accounts were compromised in 
the intrusion first disclosed in January, the largest in history.

[...]