Banks Still Making Changes After Target Credit Breach
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NORTH TEXAS (CBSDFW.COM) – In the final Christmas rush, some North Texans are worried about another problem — identity theft.
Hackers stole the credit information of some 40 million people from Target. Now the retailer is the bullseye for those seeking damages. Monday alone, several lawsuits were filed against the company.
Over the weekend Chase Bank took an aggressive approach and instituted spending limits on some debit card customers accounts. All of those affected were at risk from the Target hacking incident.
Monday, Chase made another change. The bank increased spending limits for Chase cardholders affected by the security breach… but those new limits will only be in effect until customers receive their replacement cards.
Target has been one of Cassandra Jenkins main stops for Christmas shopping. “This is probably my tenth time to Target since the beginning of December,” she told CBS 11 News.
Customers like Jenkins, who were affected by the security breach, were put on notice Monday. “We are temporarily limiting ATM withdrawals in the United States to a total of $100 and purchases to $300 per day,” she read aloud. “That’s totally fine by me.”
Customers are also being allowed to make up to $1000 per day in purchases.
In an unprecedented move, Chase Bank also opened about one-third of its branches on Sunday. The additional hours were meant to help customers get their new cards.
But at this point some customers are forgoing debit cards altogether, opting to use good old-fashioned cash. One customer said it might just be, “…paranoia. I’m sure it’s fine, but I still paid cash. At least with Target I imagine more people are going to pay cash until this has all been cleared up.”
Target customers who shopped between November 27 and December 15 are believed to be the most vulnerable.
Victims of the Target breach won’t be held financially responsible for fraudulent charges to their accounts, but the process of straightening out their credit could take months.
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