MINNEAPOLIS (WCCO) — Target now faces its first Minnesota lawsuit following the massive data breach that’s believed to have compromised up to 110 million customers’ information.
Five rural banks in southern Minnesota have reportedly joined together to file a lawsuit against the retailer.
The five banks accuse Target of negligence and violating the Plastic Card Security Act.
Minnesota is one of 3 states with such a law, which requires a business that doesn’t adequately protect financial information to reimburse for any losses from a breach.
The latest lawsuit comes as U.S. Attorney General Eric Holder announced the need for a “national standard” when it comes to notifying customers and victims of data breaches.
Holder specifically cited the recent breaches at Target and Neiman Marcus as part of the reason such a law is needed.
“It would enable law enforcement to better investigate these crimes, and hold compromised entities accountable when they fail to keep sensitive information safe,” Holder said.
On Tuesday, state legislators are expected to hit the ground running and look into whether state law should also be changed.