A proposed settlement was submitted to the court for approval Wednesday which would conclude the data breach lawsuit brought against Home Depot stemming from a 2014 data breach. CUNA, state leagues and a number of credit unions are among the plaintiffs.
Financial institution plaintiff’s co-lead counsel in the Home Depot data breach suit is interested in examples of confusing or misleading communications credit unions may have received regarding alternative recovery offers offered to settle data breach claims.
ATLANTA (3/1/16)--Next week, the financial institution plaintiff’s co-lead counsel in the Home Depot data breach suit will hold a conference call regarding alternative recovery offers that MasterCard is proposing to credit unions affected by the Home Depot breach.
ATLANTA (2/9/16)--Credit unions and other financial institutions have until Thursday to determine if they will accept alternative recovery offers from Visa regarding the Home Depot data security breach.
ATLANTA (1/21/16)--In a conference call Wednesday afternoon, plaintiffs’ counsel in the Home Depot data breach suit alerted financial institutions--including credit unions--about alternate recovery offers that may be submitted by Visa.
U.S. District Chief Judge Thomas Thrash cleared up any ambiguity this week over what types of communications are acceptable between Home Depot and the financial institutions suing the retailer over last year’s massive data breach.
Credit unions should not opt-in to the settlement deal recently offered with regard to Home Depot and MasterCard, counsel representing financial institutions in the data breach case against Home Depot said during a conference call Monday.
CUNA’s final rule analysis of the CFPB changes to the TRID rule is now available. The rule, published in the Federal Register this week is effective Oct. 10, with a mandatory compliance date of Oct. 1, 2018.
While proposed changes to the CFPB prepaid accounts rule provide some clarity, it will not be helpful for most prepaid card users and CUNA remains opposed to the rule’s application of Regulation Z to certain prepaid cards.