T.J. Maxx owner pays $9.75 million, settles with 41 states over massive data breaches

Massachusetts-based TJX Cos. reached an agreement with 41 states attorneys general over data breaches that could have released as many as 100 million credit and debit card numbers collecting from customers.

Using stolen card numbers allows thieves to steal identities and make fraudulent transactions.

Under the settlement, TJX has agreed to pay a total of $9.75 million. The money will:

  • Provide $2.5 million to establish a new data security fund for the states,

  • Pay a $5.5 million settlement along with $1.75 million to cover expenses related to the states' investigations;

  • Certify that TJX's computer system meets detailed data security requirements,

  • Encourage the development of new technologies to address vulnerabilities in the payment card system.