Calif., Nev. Leagues join class-action suit against Home Depot
April 8, 2015
SACRAMENTO, Calif. (4/9/15)--The California and Nevada Credit Union Leagues announced this week that it has joined credit unions nationwide as a plaintiff in a class-action lawsuit filed against retail giant Home Depot.
In September, the Atlanta-based, big-box retailer admitted that 56 million credit and debit cards were compromised after cybercriminals infiltrated its payment systems, costing credit unions alone nearly $60 million, according to data compiled by CUNA.
"Joining credit unions across the nation as a plaintiff in this case comes down to one issue: Consumer data needs to be protected," Diana Dykstra, league president/CEO, told News Now in a statement. "Credit union members are the unfortunate victims of large-scale merchant data breaches, and they want leadership who can find a comprehensive solution to a growing problem."
Credit unions and leagues from more than 30 states have joined as plaintiffs on this case, Dykstra said.
CUNA has been working with leading national attorneys to determine how it can participate most effectively in the suit against the mega retailer, according to Susan Parisi, CUNA chief counsel.
"We understand that credit unions have been injured by Home Depot's negligence, and for the last year and a half CUNA has been diligently working on the matter, including connecting credit unions that want to pursue legal action with the appropriate representation," Parisi said.
"As far as CUNA's participation in the suit, no decision has yet been made and all options remain on the table," she added. A decision must come before May 15, which is the deadline for the plaintiff's lawyers to amend their complaint.
Dykstra said the league's decision to join the legal battle also serves as a tool it can use to educate Congress and state legislatures about data breaches and to remind them who all has a stake when they occur.