Target agrees to pay banks $19M for breach-related costs

Target agreed to pay banks $19 million for costs they incurred in the 2013 data breach that exposed the payment-card and personal information of tens of millions of customers.

By Kevin Orland, Bloomberg | Updated on April 16, 2015

(Bloomberg) — Target Corp. agreed to pay banks $19 million for costs they incurred in the 2013 data breach that exposed the payment-card and personal information of tens of millions of customers.

The estimated cost of the settlement is already reflected in breach-related liabilities the retailer established in its past two fiscal years, Minneapolis-based Target said Wednesday in a statement.

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