Nussle: Credit union members still waiting for over $30 million lost from Target data breach
WASHINGTON, DC (March 19, 2015) — Following the settlement of consumer class-action lawsuits announced today regarding Target’s data breach in 2013, President and CEO of the Credit Union National Association (CUNA) Jim Nussle released the following statement:
“It shouldn’t take a court-approved settlement for Target to provide basic security measures to protect American consumers from data breaches. For 15 months, credit unions and their members have been pushed to the backburner waiting to be reimbursed for over $30 million lost, at no fault of their own, due to Target’s failure to safeguard the data of its customers. Credit unions continue to protect their members as a result of merchant data breaches – and there’s no end in sight. It’s high time for merchants to be held to the same standards as financial institutions to ensure all consumers’ private information is protected.”
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.