Home Depot Settles Data Breach Suit

According to published reports, Home Depot has agreed to pay at least $19.5 million to compensate consumers affected by a 2014 data breach. The breach exposed around 55 million cardholders.

In a settlement filed in federal court, terms call for providing $13 million to affected consumers, with the rest going to identity protection services, the reports indicated.

Home Depot also agreed to upgrade data security.

In a fourth quarter earnings call, Carol Tomé, the company’s CFO and evp/corporate services, pointed out that Home Depot spent a total of $128 million of net breach-related expenses during fiscal 2015.