Legal Trend: Small Banks Want to Block Target Settlement with MasterCard

Small banks and credit unions have filed suit to enjoin the nearly $20 million settlement between Target and Mastercard related to the 2013. 

Small banks and credit unions allege:

• the agreement between Target and Mastercard was surreptitious
• ““This sweetheart deal for Target was negotiated without involvement of the court or the legal representatives of the impacted financial institutions.”

Target is still in negotiation with Visa over a settlement for reissuing credit and debit cards after the 2013 data breach.

​Reuters