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Target to pay nearly $40M to banks over data breach
Target Corp. has tentatively reached another milestone in its continuing efforts to remediate financial losses caused by its massive 2013 data breach.
According to multiple media reports, Target has reached a settlement with MasterCard Inc. and a number of issuing banks. In papers filed in federal court in Minneapolis, Target said it would reimburse a total of $39 million in the settlement. That figure would include about $20 million for issuing banks not covered in other class action suits against Target and about $19 million to the MasterCard Account Data Compromise program.

