Connecticut and eight other states have reached an $850,000 settlement with TD Bank that resolves consumer protection and privacy claims against the bank related to a 2012 data breach, state officials announced.
Connecticut will receive just shy of $180,000, of which $100,000 will go to the Department of Consumer Protection’s privacy protection guaranty and enforcement account. The rest will go to the state’s general fund.
Connecticut led the nine-state group’s investigation of and negotiations with the bank and the breach, which potentially exposed the personal information of 260,000 customers. Of that number, more than 43,000 were Connecticut residents.
TD Bank notified attorneys general after it lost unencrypted backup tapes in Massachusetts. The bank said there have been no reports of identify theft.
As part of the settlement, the bank has agreed to only transport encrypted backup tapes.
The other states that were party to the settlement include Florida, Maine, Maryland, New Jersey, New York, North Carolina, Pennsylvania and Vermont.
