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The TJX Cos. Inc. have reached a settlement with MasterCard International Inc. that will pay card issuers up to $24 million in connection with credit card data breach claims made against the clothing retailer.

Under this agreement, MasterCard will make offers to eligible MasterCard issuers worldwide that issued payment cards they claimed were affected by TJX’s unauthorized computer intrusions. MasterCard will recommend that eligible MasterCard issuers accept such offers, according to TJX.

The settlement is conditioned on issuers of at least 90% of the claimed-on MasterCard accounts accepting these recovery offers by May 2.

This settlement comes one week after TJX and two data brokers settled data breach-related claims with the Federal Trade Commission (Direct Newsline, March 28).

No fines were levied in this agreement but each company was required to implement comprehensive information security programs and obtain audits by independent third-party security professionals every other year for 20 years, according to the FTC.