Judge certifies bank class action against Target

Banks that are suing Target Corp. over its massive data breach in 2013 won approval for a class action lawsuit this week.

Issued by U.S. District Judge Paul Magnuson in St. Paul, Minn., the ruling allows banks to pursue claims together against the retailer.

At least one settlement offer has been rebuffed by banks. Target's $19 million proposal with MasterCard collapsed earlier this year. A month ago, Target agreed to pay as much as $67 million to financial institutions that issue Visa cards.

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