The Canadian Privacy Law Blog: Developments in privacy law and writings of a Canadian privacy lawyer, containing information related to the Personal Information Protection and Electronic Documents Act (aka PIPEDA) and other Canadian and international laws.
The author of this blog, David T.S. Fraser, is a Canadian privacy lawyer who practices with the firm of McInnes Cooper. He is the author of the Physicians' Privacy Manual. He has a national and international practice advising corporations and individuals on matters related to Canadian privacy laws.
For full contact information and a brief bio, please see David's profile.
The views expressed herein are solely the author's and should not be attributed to his employer or clients. Any postings on legal issues are provided as a public service, and do not constitute solicitation or provision of legal advice. The author makes no claims, promises or guarantees about the accuracy, completeness, or adequacy of the information contained herein or linked to. Nothing herein should be used as a substitute for the advice of competent counsel.
This web site is presented for informational purposes only. These materials do not constitute legal advice and do not create a solicitor-client relationship between you and David T.S. Fraser. If you are seeking specific advice related to Canadian privacy law or PIPEDA, contact the author, David T.S. Fraser.
Thursday, April 03, 2008
Shamed retailer TJX has reached a tentative settlement with MasterCard to the tune of $24 million, according to the Associated Press:
The Associated Press: TJX Could Pay Another $24M for Breach
BOSTON (AP) — Discount retailer TJX Cos. could pay as much as $24 million in a settlement Wednesday with MasterCard Inc. over a massive breach that exposed tens of millions of payment card numbers to hackers.
The pact came as a group that tracks U.S. data breaches reported the number of cases in the first three months of this year was more than double the total in last year's first quarter.
The TJX agreement, which follows a similar $40.9 million pact in November with Visa Inc., hinges on banks that issue MasterCards agreeing to waive rights to sue TJX in exchange for being paid for breach-related costs.
Issuers of at least 90 percent of the MasterCard accounts identified as possibly being compromised in the breach must approve the agreement by May 2 for the settlement to take effect, Purchase, N.Y.-based MasterCard and Framingham, Mass.-based TJX said in separate news releases.
In the Visa agreement, TJX won consent from more than 95 percent of Visa issuers within three weeks after the deal was announced Nov. 30. That agreement required 80 percent approval, rather than the MasterCard agreement's 90 percent threshold.
TJX President and Chief Executive Carol Meyrowitz said her company believes the latest agreement "provides a fair resolution for MasterCard and its issuing banks."
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