BBVA Compass to Re-issue Cards Hit by Target Breach

Print
Email
Reprints
Comment
Twitter
LinkedIn
Facebook
Google+

BBVA Compass is re-issuing cards to customers affected by Target's massive data breach.

The Birmingham, Ala., bank decided to re-issue cards to customers who may have been affected by the breach "as a preventive measure," according to a company statement emailed by a BBVA Compass spokesman. The bank chose to reissue the cards after it was informed by Visa that certain customer check and credit card data may have been compromised, the statement said.

Approximately 10% of BBVA Compass' card customers were affected by the breach, according to a report this week in the Alabama news site AL.com. The Target data breach affected approximately 40 million customers who shopped at the retail chain from Nov. 27 to Dec. 15.

Banks have sought to limit the damage caused by the breach in various ways. Citigroup (NYSE: C) has begun calling customers to verify suspicious purchases and reissuing cards that have been compromised. JPMorgan Chase (JPM) said it would restrict the cash withdrawals and purchase limits of about two million Chase card users who may have been affected.

Other banks, including Bank of America (BAC), Wells Fargo (WFC), U.S. Bank (USB) and PNC Financial (PNC), have been monitoring accounts for suspicious activity, but have not begun large-scale reissuances.

BBVA Compass is the U.S. unit of Spain's Banco Bilbao Vizcaya Argentaria (BBVA).

JOIN THE DISCUSSION

SEE MORE IN

'The Law Penalizes the Consumers It Set Out to Protect': Comments of the Week

American Banker readers share their views on the most pressing banking topics of the week. As excerpted from the Comments sections of AmericanBanker.com articles.

(Image: Fotolia)

Comments (0)

Be the first to comment on this post using the section below.

Add Your Comments:
Not Registered?
You must be registered to post a comment. Click here to register.
Already registered? Log in here
Please note you must now log in with your email address and password.

The FinTech 100

FIS and Tata once again top the annual FinTech 100 list of vendors, ranked by revenue; IBM and Hewlett-Packard lead the pack of tech companies serving multiple industries; and Bionym and Silver Tail are among the 10 Tech Companies to Watch.
DAILY ENEWSLETTER UPDATE

A Newsletter featuring Bank Technology News' top stories plus special reports and data

This feature displays payments industry news and analysis from American Banker sibling brand PaymentsSource. Registration is required; for more information contact customer service.

TWITTER
FACEBOOK
LINKEDIN
Already a subscriber? Log in here
Please note you must now log in with your email address and password.