Target (TGT) Enters Proposed Settlement in Card Breech

Target (NYSE: TGT) is said to agree to pay $10 million in a proposed settlement of the massive credit card breach it experienced in late 2013.

Reuters said that Target will deposit the amount into an interest-bearing escrow account and will pay individual claims up to $10,000 in damages. The settlement still requires federal court approval.

Target will also need to adopt and implement verious security measures, like appointing a security chief and keeping a written information security program.

Shares of Target are indicated lower in early trading.

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