TJX Offers Reimbursement in Data Breach
Framingham, Mass. TJX Cos. has offered to spend up to $24 million to reimburse customers who claim they were defrauded because of a data breach last year, the company said Wednesday. The breach leaked information about more than 45 million of the retailer's customers.
The company will set aside $24 million pretax to pay restitution to customers who claim the data was used to make purchases on their MasterCard credit cards. The deal must be approved by 90% of the lenders on the MasterCard accounts that were allegedly defrauded.
The restitution will be paid in the second quarter, the company said.