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Report: Judge won’t block Target-MasterCard settlement


New York – Despite some reservations, a federal judge is reportedly refusing to block a proposed settlement between Target Corp. and MasterCard related to the retailer’s 2013 data breach. According to Reuters, U.S. District Judge Paul Magnuson in St. Paul, Minnesota declined a request from a group of banks and credit unions to rule against the $19 million settlement.

In his ruling, Magnuson said he could not prove that the settlement has any misleading or coercive settlements, even while he acknowledged it does not seem “entirely fair or reasonable.” However, before the settlement can take effect, at least 90% of the banks issuing MasterCard accounts impacted by the breach have to sign on.

The banks and credit unions protesting the deal estimate total losses from fraud and issuing new credit cards total $160 million.

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