US Chain Settles Data Leak Case

US retailer TJX, which owns TJ Maxx and UK outlet TK Maxx, has reached an out-of-court deal with a string of banks over a credit card data breach. The scam saw hackers steal details of about 100 million credit and debit card transactions over several years.

The value of the settlement is confidential but includes payments to Visa and US bank associations to cover costs of replacing customers'' cards. The retailer has said that UK customers were not exposed to fraud. TJX said it had also spent about $125m on improving security. The settlement covered class actions in the United States, Puerto Rico and Canada.