Report: Target offers few details in Congressional briefing; could face $1 billion fine
Minneapolis – A Target representative reportedly offered few new details during a phone briefing with members of Congress about its holiday data breach. According to Reuters, Target official Isaac Reyes spent about an hour on the phone with members of the House of Representatives Oversight Committee on the evening of Jan. 30.
Reyes reportedly told Congress Target was informed of the data breach by the Department of Justice on Dec. 12, but would not say if the retailer knew beforehand, citing ongoing law enforcement investigation. Reyes also reportedly said Target believes it has complied with all state and federal regulations on disclosing the breach.
In addition, Jefferies analyst Daniel Binder said that Target could face between $400 million and $1.1 billion in fines due to the breach, higher than previously thought.