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).