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Report: Target data breach costs banks more than $200 million
New York -- The costs related to Target's data breach have now exceeded $200 million for financial institutions, according to the Consumer Bankers Association and the Credit Union National Association, the Associated Press reported. The $200 million figure does not include the cost of any a fraudulent activity, which would push the cost of the breach to the industry higher as consumers are not held liable.
The two trade associations said that 21.8 million of the 40 million compromised credit and debit cards have been replaced.
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Obama visits Safeway center; calls for new truck fuel efficiency rules
New York -- President Barack Obama visited Safeway Inc.’s distribution center in Upper Marlboro, Md., where he spotlighted the chain’s efforts to improve truck efficiency and called for new fuel efficiency and greenhouse gas standards for medium-duty and heavy-duty trucks by March 2016. The new standards will mean “thousands of dollars in savings every year” for truck operators, Obama said.