- In what surely will be the first of many, Alabama State Employees Credit Union files the first class action salvo against Target (TGT -0.1%) by a financial services firm, seeking compensation for losses due to defrauded deposits and costs associated with closing accounts, reissuing cards, and heightened account monitoring.
- Under Alabama law, ASECU must ask for a minimum of $5M in damages, but an attorney representing the union expects the final figure to come to "hundreds of millions of dollars" as other financial services firms join on the bandwagon.