As you may have heard, Visa Inc. has reached a settlement with the TJX Companies to offer U.S. issuers up to $40.9 million for data breach claims. Here's the NAFCU Today article about the settlement.
How do issuers accept or reject the offer? The Compliance Guy doesn't know exactly, but he urges you to watch your mailbox.
The following comes from this Visa press release.
"Visa will be notifying all eligible issuers in the coming days with details about the optional settlement and how to participate. In order to facilitate payment in December, eligible issuers will have approximately 10 business days from the date of the communication to opt-in to the program before it expires."
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NAFCU members: The December 2007 BSA Blast is available here.
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