Banks sue over data breach

Banks sue over data breach Click to Enlarge Photo:

Feb 26, 2014 at 5:54 am

MINNEAPOLIS (AP) — A group of southern Minnesota banks is suing Target Corp., alleging damages from the retailer's data breach late last year.

The five banks are First Farmers & Merchants banks. The lawsuit was filed Saturday in U.S. District Court in Minnesota.

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.

The banks are in Luverne, Fairmont, Brownsdale, Grand Meadow and Cannon Falls.

A Target spokeswoman told the newspaper the Minneapolis-based retailer does not comment on litigation.

As of February, banks and credit unions nationally estimated they've spent more than $200 million replacing credit and debit cards whose data were snatched in the cyberattack.

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