{"id":142,"date":"2015-03-25T20:42:00","date_gmt":"2015-03-25T20:42:00","guid":{"rendered":"https:\/\/informedintel.com\/account\/datasecurity\/wp-datasecurity\/2015\/03\/25\/financial-institution-sues-retailer-over-data-breach\/"},"modified":"2015-03-25T20:42:00","modified_gmt":"2015-03-25T20:42:00","slug":"financial-institution-sues-retailer-over-data-breach","status":"publish","type":"post","link":"https:\/\/informedintel.com\/account\/datasecurity\/wp-datasecurity\/financial-institution-sues-retailer-over-data-breach\/","title":{"rendered":"Financial Institution Sues Retailer Over Data Breach"},"content":{"rendered":"<p>An Illinois Credit Union has sued Kamart\/Sears over a 2014 data breach because the retailers reaction to a data breach harmed financial institutions. Here&#8217;s why, note same thing can happen in Texas:<\/p>\n<ul>\n<li>The financial institutions were required:\n<ul>\n<li>to refund fraudulent charges<\/li>\n<li>respond to a higher volume of customer complaints, and<\/li>\n<li>increase fraud monitoring efforts<\/li>\n<\/ul>\n<\/li>\n<li>The financial institutions lost revenue<\/li>\n<li>The retailers failed to maintain adequate data security under applicable payment card industry standards<\/li>\n<li>The retailer delayed notification to consumers by at least 5 weeks.\u00a0<\/li>\n<li>The causes of actions rooted in :\n<ul>\n<li>Illinois Personal Information Protection Act,<\/li>\n<li>Consumer Fraud and Deceptive Business\u00a0Act,<\/li>\n<li>New York General Business Law,<\/li>\n<li>negligence, and negligent misrepresentation and\/or omission.\u200b<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p><a href=\"http:\/\/www.jdsupra.com\/legalnews\/financial-institutions-file-class-action-05130\/\">JDSupra InfoBytes Blog<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>An Illinois Credit Union has sued Kamart\/Sears over a 2014 data breach because the retailers reaction to a data breach harmed financial institutions. Here&#8217;s why, note same thing can happen in Texas:<\/p>\n<ul>\n<li>The financial institutions were required:\n<ul>\n<li>to refund fraudulent charges<\/li>\n<li>respond to a higher volume of customer complaints, and<\/li>\n<li>increase fraud monitoring efforts<\/li>\n<\/ul>\n<\/li>\n<li>The financial institutions lost revenue<\/li>\n<li>The retailers faile&#8230;<\/li>\n<\/ul>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10,4],"tags":[],"class_list":["post-142","post","type-post","status-publish","format-standard","hentry","category-banking","category-retail-data-breach","entry"],"_links":{"self":[{"href":"https:\/\/informedintel.com\/account\/datasecurity\/wp-datasecurity\/wp-json\/wp\/v2\/posts\/142","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/informedintel.com\/account\/datasecurity\/wp-datasecurity\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/informedintel.com\/account\/datasecurity\/wp-datasecurity\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/informedintel.com\/account\/datasecurity\/wp-datasecurity\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/informedintel.com\/account\/datasecurity\/wp-datasecurity\/wp-json\/wp\/v2\/comments?post=142"}],"version-history":[{"count":0,"href":"https:\/\/informedintel.com\/account\/datasecurity\/wp-datasecurity\/wp-json\/wp\/v2\/posts\/142\/revisions"}],"wp:attachment":[{"href":"https:\/\/informedintel.com\/account\/datasecurity\/wp-datasecurity\/wp-json\/wp\/v2\/media?parent=142"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/informedintel.com\/account\/datasecurity\/wp-datasecurity\/wp-json\/wp\/v2\/categories?post=142"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/informedintel.com\/account\/datasecurity\/wp-datasecurity\/wp-json\/wp\/v2\/tags?post=142"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}