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Local Banks Part of Target Lawsuit

Created: 02/25/2014 3:52 PM KAALtv.com

(ABC 6 NEWS) -- A group of banks from southern Minnesota has filed a class action lawsuit against Target in U.S. District Court of Minnesota.

The First Farmers & Merchants National Banks of Grand Meadow, Cannon Falls, Luverne, Fairmont, and Brownsdale are part of the suit. The banks say the Target data breach caused their institutions harm and that Target knew its payment system was vulnerable.

The banks say they've had to refund fraudulent charges, close and re-open checking and savings accounts, and cancel and re-issue credit and debit cards.

As we've reported, hackers stole 40 million payment card numbers from Target shoppers late last year.

MGN Online