JPMorgan Chase & Co is taking steps to deter any additional breach its Chase debit cards used at Target stores, according to a Dec. 21 Chicago Tribune News report. The bank notified its Chase debit card customers on Saturday that in light of the recent credit and debit card at Target, it would be limiting the use of the cards used at Target during that time period, to a daily total of $100 for cash withdrawals and $300 for purchases.
This cap on spending does not apply to credit cards; only fewer than 10 percent of Chase debit card accounts. The subject line of the email sent to its customers read, “Unfortunately, your debit card is at risk by the breach at Target stores.”
Reuters reports that JPMorgan Chase said it was taking at the action as a precaution and recognized that the move “could not have happened at a more inconvenient time.”
As the Examiner previously reported, Target announced this week that the company was the victim of a credit and debit card security breach affecting 40 million of its customers. Just one day after the announcement, the nation’s No. 2 retailer offered a 10% discount for all shoppers at its stores this weekend, according to a Dec. 20 CNN Money report.
According to Target, the relevant time period for all cards impacted by the data breach is between Nov. 27 and Dec. 15 of this year. “We recognize this has been confusing and disruptive during an already busy holiday season,” Target CEO Gregg Steinhafel said in a statement Friday. “Our guests' trust is our top priority at Target and we are committed to making this right.”