Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

CU System
CU Seeks Restitution in Class Action Filed Against Target
MONTGOMERY, Ala. (1/3/14)--Alabama State Employees CU has filed a class-action suit related to costs associated with the Target data breach.

It is estimated that more than 40 million accounts were compromised in the breach, which occurred on or around Nov. 27, just before Black Friday, and continued through at least Dec. 15.
 
The suit, filed Monday in an Alabama federal court, seeks $5 million in damages for losses suffered by millions of financial institution members and customers whose personal financial information was compromised, as well as costs associated with closing accounts, reissuing new checks, debit cards and credit cards as a result of Target's data breach.
 
On Dec. 20, Target announced that it had been hit by the wide-reaching security breach.
 
The complaint alleges that Alabama State Employees CU, Montgomery, Ala., and other plaintiffs "were required to expend time, energy and expense to address and resolve these financial disruptions and mitigate the consequences by refunding loss deposits; issuing new credit and debit cards; closing compromised or suspected-to-be compromised accounts opening new accounts; and increased costs in monitoring customer and member accounts to determine which transactions are legitimate or fraudulent."
 
The $211 million-asset credit union is represented by the law firm of Beasley, Allen, Crow, Methvin, Portis & Miles, P.C. of Montgomery, Ala.
 
The law firm filed the class-action lawsuit Dec. 30 in the U.S. District Court, Middle District of Alabama, Northern Division.


RSS





print
News Now LiveWire
Record # of applicants for Crash the GAC means every state & D.C. will B represented by young #CU professional at #CUNAGAC #crashthegac15
13 hours ago
.@WOCCU and @CUNA are co-hosting 2015 America’s CU Conference July 12-15 in Denver. Registration is open here: http://t.co/FanFeaO0bC
14 hours ago
Recording of @CUNA Jan. 26 #rbc2 webinar is now available online here: http://t.co/jgxkd65Fj0 Just sign in and listen.
14 hours ago
.@SEC_News 2/19 proxy voting roundtable: contested director elections, increasing retail shareholder participation http://t.co/8k0p6ZvNL8
14 hours ago
.@TheNCUA posted resources 2 help consumers protect themselves,take action if they believe they were ID theft victims:http://t.co/HVaikbuT9H
16 hours ago