Groups claim stolen data resulted in billions of dollars in losses

The Credit Union National Association has joined with dozens of credit unions and banks to sue home supply retailer Home Depot on a data breach they said potentially cost them billions of dollars in losses.

According to Credit Union Times, CUNA and 64 credit unions, state credit union leagues and banks filed consolidated class action lawsuit filed in U.S. District Court in Atlanta Wednesday. The suit seeks damages from a 2014 breach of Home Depot systems that resulted in the theft of the personal information of more than 56 million customers.

The plaintiffs argue the breach resulted in billions of dollars in fraud losses and more than $150 million in fees for reissuing credit and debit cards, according to the news site. CUNA and the state credit union leagues are not seeking monetary damages but rather "equitable relief" for their members.

An attorney for Home Depot said the company plans to mount a vigorous defense. http://bit.ly/1KtjMJP

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