Chase bank takes steps to protect 2M customers affected by Target security breach

Banks are doing damage control after a massive security breach at Target stores.
December 22, 2013 11:11:40 AM PST
Banks are doing damage control after a massive security breach at Target stores. Saturday Chase bank announced several steps to protect 2 million of its customers believed to be at risk.

Chase is telling any at-risk customers not to worry because they won't be responsible for fraudulent purchases, but at the same time, the bank is making changes to protect its customers.

Anyone who paid with plastic at Target stores between November 27 and December 15 is at risk. Target says an estimated 40 million shoppers' credit and debit cards might have been compromised. Valley shopper Kathy Humphrey is worried hackers may have infiltrated her account so she immediately called her bank, Chase.

"They said they would make it right, and to watch our bank statements through the automated system and they would take care of things," Humphrey said.

Saturday Chase took it a step further, announcing plans to replace about 2 million debit cards for members. And until the cards are replaced the bank is putting limits on debit card use maxing cash withdrawals at $100 dollars and capping purchases to $300 a day.

Chase credit cards won't be affected. Target says they working to set up one year of fraud monitoring system for impacted customers. In the meantime credit experts urge potential victims to continuously check account activities for any suspicious buys.

"Review your transactions, review your credit reports, once very quarter," cardhub.com credit analyst John Kiernan said.

So far Humphrey's finances are in order and she feels better her bank is looking out for her.

"It makes you feel good because your money feels good to you know a days," Humphrey said.

A Target spokeswoman says that other banks have put precautions in place, but she couldn't speak to the specifics of what they are doing to protect their customers.

Chase Bank: Important information about the Target data breach


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