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2000px-Target_logo.svgThe Wall Street Journal first reported the story, saying that card issuers would receive up to $67 million in the settlement.

Target spokeswoman, Molly Snyder said, “the agreement is conditioned on a subset of issuers — representing the majority of the Visa cards that Visa determined were at risk as a result of the breach — having entered into direct settlements with Target and Visa. On Aug. 17, Visa certified that the required subset of issuers had entered into settlements for the agreement to become effective. As a result, offers are being extended to the remaining group of eligible Visa issuers using a settlement formula that would enable them to achieve the same economics as the Visa issuers that have already settled with Target and Visa.”

In May, a similar agreement that would see Target reimburse Mastercard $19 million fell apart after not enough banks ratified the agreement.

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