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TJX Settles

Framingham-based retailer TJX has settled a lawsuit with banks and banking associations that sued the discount retailer over its massive data breach.

The settlement is with the state bank associations in Massachusetts, Connecticut, and Maine, as well as three individual banks.

Neither side will say detail the settlement amount... but TJX says the costs are covered in a $107 million dollar reserve fund.

At least 45 million credit and debit cards were compromised in the breach that began in 2005 and was disclosed earlier this year.

This program aired on December 19, 2007. The audio for this program is not available.

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