Evan Schuman reports on his blog that a few days ago, a judge denied a request by banks to allow class action certification when they sue TJX, owners of TJ Maxx, TK Maxx, Homegoods and Marshalls. This means that banks will have to sue TJX individually, which is more costly and, therefore, less appealing to them. Most banks will probably not go down that path, which is good news for TJX
“The Visa fine was because of reckless conduct and blatant PCI violations. Why should that be reduced?”
Evan Schuman
In the “More Good News for TJX” category we hear that Visa has – *cough* – negotiated a reduced settlement. Visa had fined TJX $880,000 – TJX probably spends that much on their Shareholder’s Meeting – but will reduce or possibly cancel that fine completely.
So, in the end, TJX may be getting off easy for one the biggest, if not the biggest, mishandling of customer’s private data in history. My wife still has not heard from them…
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