posted on Sep, 23 2005 @ 09:51 AM
Visa and MasterCard are in a California Court today fighting a class action suit that would force them to inform their California customers that their
information had been stolen.
As was three months ago it was reported that 264,000 Visa and Mastercard customers may have had their information stolen when a hacker had breached
the database of CardSystems Solutions Inc. Up to 40 million Mastercard Users may have been affected by the breach between Aug. 2004 and May 2005.
SAN FRANCISCO - Testing the bounds of consumer protection laws, Visa USA Inc. and MasterCard International Inc. are headed for court to determine
whether they are obliged to notify 264,000 customers that a computer hacker stole their account information.
The dispute to be argued Friday in San Francisco County Superior Court revolves around a highly publicized security breakdown at CardSystems Solutions
Inc., one of the nation's largest payment processors.
Although a ruling in the class-action consumer lawsuit wouldn't have legal standing outside the state, it would increase the pressure on Visa and
MasterCard to notify all affected accountholders in this and any future breaches.
Please visit the link provided for the complete story.
Talk about a nightmare for both the Credit Card companies but also for their customers. I would have to stand behind the customer's rights here on
this issue. If a company is storing information about me, for what ever reason, and that information is compromised, I definately will want to know
I myself was a victim of ID theft back in 2000 and let me tell you, I still feel the effects of it today, 5 years later!
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Victim of ID Theft? You may not be told!