Monday, March 23, 2009

Heartland reveals in their annual report that the data breach last year is currently under investigation by SEC, FTC, DOJ, Federal Financial Institutions Examination Council, and the Office of the Comptroller of the Currency. This is in addition to attorneys general of several states, and Canadian authorities.

This breach is going to be a costly affair for the company if the attrition numbers are continuing to grow. Even more costly will be the loss of sponsorship from their primary sponsor bank. Visa booted Heartland off of its list of processors compliant with the Payment Card Industry data-security standards, or PCI last week.

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