Target will pay customers who suffered from a 2013 data breach up to $10,000 each in damages.
Reference www.cnn.com
On Thursday, a federal judge in St. Paul, Minnesota approved a $10 million offer by Target to settle a class action lawsuit, according to an attorney representing those who were hacked.
But don't get excited. It's unlikely anyone will actually receive $10,000.
Under the terms of the settlement, Target customers who can prove they were damaged by the data breach will get the first shot at the $10 million. For example, victims will be reimbursed for unauthorized credit card charges, bank fees or costs related to replacement IDs -- so long as they are documented.
There was
rampant card fraud after the Target hack. But in reality, banks typically reimburse customers 100% in cases of card fraud.