Target sets aside $19M for MasterCard issuers caught up in December 2013 data breach

Industrials Associated Press

Target and MasterCard say they've agreed to settle lawsuits over Target's December 2013 data breach.

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Target says it has set aside up to $19 million for MasterCard issuers who were caught in the data breach.

MasterCard Inc. says the money will be available to banks and credit unions for operating costs and fraud-related losses on cards believed to have been affected. The settlement will go into effect if at least 90 percent of eligible accounts accept the offer by May 20.

Target said about 40 million credit and debit card accounts were affected by a data breach, including Target store brand cards and major brands like Visa and MasterCard.