By Marcos Colón
March 13, 2017
Following its 2014 data breach which impacted more than 50 million customers, Home Depot has reached a new settlement with banks.
The retailer has agreed to pay $25 million in damages tied to the data breach, with $19.5 million aimed at compensating U.S. consumers, and $6.5 million funding 1-1/2 years of cardholder identity protection services, according to a Reuters report.
“We wanted to put the litigation behind us, and this was the most expeditious path,” said company spokesman Stephen Holmes. “Customers were never responsible for any fraudulent charges.”
Between April and September 2014, customers who used Home Depot’s self-checkout terminals in its U.S. and Canadian stores were affected by the breach, resulting in 40 million people having payment card data stolen, and between 52 million and 53 million having email addresses compromised.