Blog | G5 Cyber Security

Will Banks Reject Home Depot Breach Settlement?

Proposed MasterCard, Home Depot Breach Settlement ‘Confuses’ card issuers, attorneys say. Banks and credit unions are under no obligation to forfeit their rights to pursue additional payment, they say. A spokesman for Home Depot says there is a tentative settlement in place with MasterCard. Visa spokeswoman: “We continue to work with Home Depot and its acquirers regarding potential GCAR [Global Compromised Account Recovery] liability” The settlement uses MasterCard’s Account Data Compromise (ADCADC) program to offer partial recovery amounts for financial institutions’ losses during the data breach.”]

Source: https://www.bankinfosecurity.com/home-depot-a-8729

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