Massachusetts Bankers Association
CONTACT: Bruce E. Spitzer
FOR IMMEDIATE RELEASE
MASSACHUSETTS, CONNECTICUT BANKERS ASSOCIATIONS AND THE
MAINE ASSOCIATION OF COMMUNITY BANKS AND INDIVIDUAL BANKS
FILE CLASS ACTION LAWSUIT AGAINST
TJX COMPANIES INC.
-- Protecting Consumers is Ultimate Goal --
BOSTON, April 24, 2007 – The Massachusetts Bankers Association (MBA)
today announced that it is filing a class action lawsuit in U.S. District Court in Boston
against Framingham, Mass.-based TJX Companies Inc. in response to the company’s
credit and debit card data breach in which more than 45 million cards may have been
compromised. The suit will seek to recover damages in the “tens of millions of dollars,”
and the Connecticut Bankers Association (CBA), the Maine Association of Community
Banks (MACB), and individual banks, are joining the MBA as co-plaintiffs.
The three bankers associations represent nearly 300 banks. Thus far, the “named”
plantiffs in the class action suit include Saugusbank, Saugus, Mass.; Eagle Bank, Everett,
Mass.; and Collinsville Savings Society, Collinsville, Conn. More bankers associations
and many more individual banks are expected to join the list from across the country as
the case progresses.
As a result of the TJX data breach, which was first disclosed in mid January, there
have been dramatic costs to financial institutions in the effort to protect cardholders. The
MBA is filing this lawsuit to protect customer privacy and data security for customer
“The MBA made a decision to file a class action suit because we believe we are in
the best position to achieve success for our members and customers,” said Daniel J.
Forte, president and CEO of the MBA. “With the possible exception of the banks from
California that could also decide to join us, our New England institutions have had the
most exposure to this massive data breach. We believe TJX has more