Bloomberg Law
Feb. 14, 2019, 4:39 PM

Wendy’s Reaches $50 Million Pact With Banks Over 2016 Breach

Daniel R. Stoller
Daniel R. Stoller
Senior Legal Editor

The Wendy’s Co. will pay $50 million to financial institutions to settle claims that the fast-food restaurant chain had weak data security systems that let hackers access customers’ credit card information.

The group of credit unions and other financial institutions will release Wendy’s from the claims under the proposed settlement filed Feb. 13.

The institutions, including First Choice Federal Credit Union and Alcoa Community Federal Credit Union, sued Wendy’s over the data breach, saying vulnerabilities in the chain’s data security systems were responsible for the malware attack that impacted 18 million payment cards. They brought their action under Ohio consumer ...

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