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What the Target Breach Means for Credit Unions

The breach, which reportedly involved the theft of mag stripe data, will have a significant impact on credit unions and members.

By Robert McGarvey | Updated on December 19, 2013

Details remain scant regarding the data breach acknowledged Thursday by retailer Target. However, one fact has emerged: the breach, said to be second largest in U.S. history after the 2007 TJX breach that involved more than 90 million credit card accounts, will have a significant impact on credit unions and their members.

The breach apparently extended to all Target stores in the U.S., and credit and debit cards used between Nov. 27 and Dec. 15 may have been compromised. More than 40 million cards are said by Target to be at risk.

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