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"Given the scope [of the data breach], we thought it appropriate that broad disclosure was the best path to go," said John Mulligan, Target's chief financial officer, on how the company notified customers.

Three Key Takeaways from Senate's First Look at Target Data Breach

Lawmakers kicked off a week of investigations into recent data breaches on Monday and Tuesday, grilling bankers, retailers, government officials and consumer advocates about why the breaches occurred and what can be done to prevent future incidents.

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