CUNA
  • Advocacy
    • Priorities we’re fighting for
    • Actions you can take
  • News
  • Learn
  • Compliance
  • Shop
  • Topics
    • Compliance
    • Credit Union Hero
    • Credit Union Rock Star
    • Credit Union System
    • Directors
    • Human Resources
    • Leadership
    • Lending
    • Marketing
    • Operations
    • Policy & Issues
    • Sales & Service
    • Technology
  • Credit Union Magazine
    • Buyers' Guide
    • Digital Edition
    • Credit Union Hero
    • Credit Union Rock Star
    • Subscribe
    • Advertise
    • Contact
  • Advertise
  • Awards
    • Nominate Credit Union Hero
    • Nominate Credit Union Rock Star
  • Podcasts
  • Videos
  • Contact
Learn More about Member Value

News

Member Benefits
Learn more
Learn more about the benefits of membership.
Home » Target class action lawsuit step in the right direction, meaningful data security legislation still needed
Press

Target class action lawsuit step in the right direction, meaningful data security legislation still needed

September 15, 2015

FOR IMMEDIATE RELEASE

Contact: Vicki Christner – CUNA Communications; 202-508-6754; vchristner@cuna.coop

Washington, D.C. (September 15, 2015) – The U.S. District Court, District of Minnesota granted class action status in the lawsuit against Target related to its massive data breach during the winter holiday shopping season in 2013. Following the decision, Credit Union National Association (CUNA) president/CEO Jim Nussle issued to following statement: 

“Credit unions incurred at least $30 million in card reissuance costs related to the Target breach and I’m encouraged this case was awarded class action status. I’m hopeful this will result in financial recovery for the credit unions and their members who were affected. 

“While this is a step in the right direction, we need Congress to enact meaningful data security legislation to stop future data breaches. Credit unions and banks are subject to robust data protection and notification standards; the absence of Federal data security standards for the merchants that accept payment cards are the weak link in the system. To properly protect the data of all Americans, we must equally share responsibility.” 

About CUNA: 
With its network of affiliated state credit union leagues, Credit Union National Association (CUNA) serves America's credit unions, which are owned by more than 100 million consumer members. Credit unions are not-for-profit cooperatives providing affordable financial services to people from all walks of life. For more information about CUNA, visit www.cuna.org or follow @CUNA on Twitter. For more information about credit unions, visit www.aSmarterChoice.org and follow @asmarterchoice on Twitter. Visit the CUNA Press Room for a full listing of media mentions, press releases and resources to stay informed on current events within the credit union industry.

Credit Union Magazine - Winter 2019

Winter 2019

Alternative lending, compliance management systems, and ideas for boosting credit card portfolios are among the topics of Credit Union Magazine’s Winter 2019 edition.
App •  Digital Edition •  Subscribe

Trending

  • Appeals court denies ABA petition for FOM lawsuit rehearing

  • Compliance: Using alternative data in underwriting

  • Strengthen your HR leadership and credit union with your professional growth

Tweets by CUNA_News

Polls

What's the pace of staff turnover at your CU?

View Results
More

Champion of America’s Credit Unions

Credit Union National Association is the only national association that advocates on behalf of all of America’s credit unions. We work tirelessly to protect your best interests in Washington and all 50 states. We fuel your professional growth at every level and champion the credit union story at every turn.

More CUNA

  • About
  • Careers
  • Contact Us
  • Recommended Websites

Resources for

  • CUNA Board Members
  • Credit Union Advocates
  • Leagues
  • Press
  • Vendors