The “Big Five” Canadian banks include Royal Bank of Canada, Toronto Dominion Bank (TD Canada Trust), Bank of Nova Scotia, Bank of Montreal and Canadian Imperial Bank of Commerce (CIBC). Are there other viable options?
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(iStock)
Scribes of my generation were programmed to keep numbers out of the first sentence of works of journalism. Now that we are in the second sentence, I can relay the Institute of International Finance’s latest tally of global debt: $291 trillion at current exchange rates. That’s the most .... More »
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The 10 best no-fee credit cards in Canada for August 2023
Searching for the perfect credit card? In under 60 seconds, CardFinder narrows down your top matches without impacting your credit score, no SIN required.
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2015 Retirement 100: All Stars + MORE Oct 8th
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Target sets aside $19M for MasterCard issuers caught up in pre-Christmas 2013 data breach
– canadianbusiness.com
NEW YORK, N.Y. – Target and MasterCard say they’ve agreed to settle lawsuits over the discounter’s pre-Christmas 2013 massive data breach.
Target said late Wednesday it has set aside up to $19 million for banks and credit unions issuing MasterCards that were caught in the data breach that compromised 40 million credit and debit card accounts between Nov. 27 and Dec. 15, 2013.
MasterCard Inc. said the money will be available to banks and credit unions for operating costs and fraud-related losses on cards believed to have been affected. The settlement will go into effect if at least 90 per cent of eligible issuers accept the offer by May 20.
“We are hopeful that Target’s agreement to pay up to $19 million to settle the claims of MasterCard and its issuers will result in a high level of issuer acceptance,” said Scott Kennedy, president, financial and retail services at Target in a statement. “Target intends to continue to defend itself vigorously against any assessments made by MasterCard on behalf of MasterCard issuers that do not accept their offers…
Target said late Wednesday it has set aside up to $19 million for banks and credit unions issuing MasterCards that were caught in the data breach that compromised 40 million credit and debit card accounts between Nov. 27 and Dec. 15, 2013.
MasterCard Inc. said the money will be available to banks and credit unions for operating costs and fraud-related losses on cards believed to have been affected. The settlement will go into effect if at least 90 per cent of eligible issuers accept the offer by May 20.
“We are hopeful that Target’s agreement to pay up to $19 million to settle the claims of MasterCard and its issuers will result in a high level of issuer acceptance,” said Scott Kennedy, president, financial and retail services at Target in a statement. “Target intends to continue to defend itself vigorously against any assessments made by MasterCard on behalf of MasterCard issuers that do not accept their offers…
