Home Depot breach cost credit unions almost $60M

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by: Nicholas Ballasy The Home Depot data breach cost credit unions almost $60 million, nearly twice as much as the Target breach, according to survey results released by CUNA Thursday. In the.

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National Association of Federal Credit Unions (NAFCU. in card replacement costs and other expenses. Since Target’s data breach, there has been a major data breach discovered almost every month,

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 · Massive data breaches: Where they lead is surprising. The end of the road for the 56 million credit card numbers stolen a month ago from Home Depot turns out, often as not, to.

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The Worst Home Depot Inc. Headlines in 2015. but settlements between Home Depot and affected banks, credit unions, and financial services companies are likely to be necessary in order for the.

But for the banks and credit unions that have to cover losses associated with data thefts such as the massive, suspected breach. the Home Depot heist, said Christopher Pinkham, chief executive of.

Home depot expects data breach to cost at least $34M in 2014. Home Depot said in its earnings statement Tuesday that its 2014 estimate "does not include an accrual for other probable losses related to the breach that cannot be estimated at this time." The statement says breach-related costs the company is still unable to estimate may include.

The Target breach earlier this year cost credit unions in Florida an estimated $1.4. However, the Home Depot breach is almost three times as expensive. The CUNA survey found that credit unions in Florida saw more debit cards (371,299) affected than credit cards (61,743). The overall cost is estimated at $3.4 million for credit unions in Florida.

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