Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Washington
PSECU can move to jury trial
WASHINGTON (9/16//08)—A court has denied the request of Fifth Third Bank of Cincinnati, which was seeking a rehearing of a July court decision regarding the quest of Pennsylvania State Employees CU (PSECU) and Sovereign Bank to sue over losses sustained in a data breach. The July court decision granted PSECU and Sovereign Bank standing to sue BJ's Wholesale Club for the cost of replacing member credit cards after customer data was stolen from the retailer. That U.S. court of appeals ruling reversed a district court ' s decision denying the parties standing in the case, and thereby cleared the way for the credit union’s plan to return to the District Court for a jury trial--which PSECU originally had requested. After the breach was discovered, the $3.13 billion Harrisburg, Penn.-based credit union had tried to recover $98,000 from both the retailer and its merchant bank, which is Fifth Third Bank, through negotiations. More than 235,000 credit and debit cards total were reissued, and nearly 1,000 accounts were affected by illegal purchases made by thieves.


RSS print
News Now LiveWire
September is National Preparedness Month. Read how your CU can get ready in #NewsNow #NPM @AgilityRecovery @Readygov
17 hours ago
Bay Area #creditunions featured in @SFBusinessTimes article http://t.co/SE7W81Ulia
19 hours ago
#NewsNow: 8 CU advisory board, new senior leaders named at @CFPB. http://t.co/EPKgHEDRRN
21 hours ago
#NewsNow: @FTC warns of government impostor scams. http://t.co/MMWBOcrqwJ
21 hours ago
Registration open for @CUNAMutualGroup's Discovery Conference #NewNow http://t.co/CATF0j9ct1
22 hours ago